Promotional products are a big deal when it comes to marketing.
So big in fact, that multi-billion dollar coperations such as General Motors and Pepsi are spending millions of dollars on promotional products; with both companies spending a collective 133.4 million dollars just on these branded gifts.
Because of the power of promotional products.
Promotional products are increasingly becoming the most effective way to lay an outreach to past and potential consumers. But before we look into this subject, let’s have a quick definition.
What are promotional products?
Wikipedia defines a promotional product as any product that is branded with a given company’s logo or slogan and used specifically for marketing or communication.
Nicknamed swag or schwag, promotional products are mostly given as free items during marketing campaigns. They can span across a wide variety of items, from common household utilities such as mugs to tech products such as USB sticks and power banks.
Image: A USB stick promotional product
Why Include Promotional Products in your marketing strategy?
The primary purpose of any marketing campaign is to reach out to the consumer and make him/her aware of your product.
In that light, the success of promotional products in any marketing campaign is judged by how well they reach out to the consumer, what forms of impressions they make and how good is their Return on Investment (ROI).
There are a number of reasons as to why promotional products should not miss in your marketing strategy. Let’s highlight 3 basic ones:
a. Consumer Outreach
A survey was carried out from which it was shown that 83% of consumers love being given a promotional product with an advertising message on it.
A different survey showed that 48% percent of consumers would love to receive promotional products more often.
So what do these statistics mean?
Promotional products offer a great outreach to the consumer. Not only do they love them, but also a larger number desire to have them offered on a longer basis.
b. Creating Valuable Impressions
British Promotional Merchandise Association (BPMA) conducted a survey which gave some interesting results:
i) 66% of consumers claimed that they could recall the name of the advertiser on a promotional product they were given 12 months ago.
ii) 56% of the consumers also claimed that their impression of a company improved after receiving their promotional product.
So what’s the catch?
Apart from being loved by consumers, promotional products offer invaluable impressions to consumers. But the consumer who receives the promotional product directly is not the only one to whom impressions will be made.
According to a survey conducted by the Advertising Specialty Institute, 62% of those who receive a promotional product will give it away before throwing it out.
This result in a marketing perspective translates to a greater number of impressions. Not only is the direct consumer targeted, but any other person known closely to the consumer will also get to mingle with the promo item, consequently leading to a huge build up of impressions.
It’s no wonder that promotional products have on average the lowest cost per impression, as compared to TV and radio marketing.
c. Return on Investment
Of concern to any business person is the return of investment of any marketing campaign.
Promotional products perform exemplary in solitude. However, when combined with media, promotional products can improve the conversion rates of the media by 44%. This interesting data was the result of a survey conducted by Promotional Products Association International (PPAI).
Your marketing campaign can make and achieve considerably more, by simply employing the power of promotional products.
Promotional products should be one of the marketing pillars in any business. Following the example of established coperations such as General Motors and Pepsi, small and mid-sized businesses should also be ready to invest a couple of dollars, for a hundred more in return.