Marketing has always been the strongest factor to maximize the market reach and business growth of any product. It is believed that marketing cost constitute up to one fourth of total investment made on particular product. And no one will ever invest that much on something if it is not fetching more than the investment made. Considering this you can realize how much important marketing and promotion is for not only a product success but for the entire company. That is why it is highly recommended that a good proportion of investment should be made on proper branding and promotion which helps in gaining the fruitful results and flourishing the company horizons. And one very important aspect and method of branding is the promotional product.
Many businesses may not realize that the promotional product can really help with the branding of the company and can be a great complement to your marketing strategies. Promotional products or merchandize, branded with your company name or logo should be considered as an investment and part of marketing budget. Giving promotional products to your potential customers can aides in branding and improve customers’ opinions about your company. This will also result in your company being remembered by them over a long period of time and will make them more likely to buy from you in future. This comes out to be less expensive and more effective than other source of marketing and promotion.
Thus, considering this highly efficient mode of marketing, we present you some of the major benefits which promotional products offer to the company for the success of its marketing strategies and expectations.
- Flexibility in Delivering
Promotional products are highly flexible in nature. They can be given in any form you want. There is no rigidness in the delivering services and methods. Whatever your campaign is, you can always relate the products and merchandise to the current campaign and promote or advertise your product, event or campaign. Pens, mugs diaries etc. are the most common form but promotional product can take up any form to represent your company and products that are relevant to you. For example, any travel company may provide you with some beach related products, any insurance company can think of any safety product and so on.
- Measurable Statistics
In other modes of marketing like TV ads etc. you cannot measure the statistics of the effectiveness of your method or the people who got involved or came through your company event or product. But in this, you can have a rough idea about the people you targeted and the conversion of your effective methodologies in success rate. You can easily calculate the effectiveness or success for any particular event very easily.
When customers perceive promotional products, they keep them for long period of time. In fact, some studies have shown that many people keep the promotional products for an average of one year or longer. This increases the brand awareness of not only those using the promotional product but also those who are in contact with the recipient.
- Improves Company Value
Everyone likes to receive something for free and they do not mind getting something with promotional logo or company name on it and accept it as a part of exchange. Once they keep this product, they use it and become more familiar not only with that product but they also get encouraged to know about other products of the company. This results in making them more likely to buy products from your company in future.
- Cheaper than other Modes
Investing in a promotional campaign can bring a greater return on investment than other types of marketing campaigns. Promotional products can cost considerably less per impression yet are kept for some years and also get in touch with other potential customers. So, this works as a chain, thus act as an endorsement of your brand and helps get the word out to multiple people other than the recipient. In this mode, you invest for only an individual and the result comes out not only from him/her but also from other potential customers who are in contact with him/her or who got the word of mouth from him/her about your company products.
- Direct Contact
Promotional products have benefit of getting the direct contact with the customers where you are assured of getting people noticed about your company’s brand value and the products. In other methods, you are not sure whether people came across your ads or not or will they remember it for a long period of time or not. But here once they get your promotional product, you are not only assured of that person but also other people as well who might get in touch with him/her and get the endorsements from hi/her end itself.
- Increase Company’s Brand Value
These promotional products also help in establishing a good image among the people about your company and products. People tend to show some respect towards your methodologies and your products which helps in getting you to the league of their and their peers’ good books as it reflects your professionalism and generosity.
Investing on promotional should never be seen as the waste of money but they should be considered as the prime source of future returns and profits. Putting a little effort on these campaigns will do most of your legwork and covers a wider range of your target customers even without reaching out to them as it done by keepers of your promotional products itself in the form of word of mouth.