Custom Promotional Gifts for Business
Is your marketing strategy dearth in utilizing custom promotional items? Then your marketing management systems are not galvanizing its full potential in enhancing business growth and market penetration.
Marketing management is saddled with the responsibility to develop mutually beneficial transactions between your company, and its customers (i.e., both your current and prospect customers) and to sustain that exchange in a competitive market. But when the marketing tools employed is not efficient or generating the right traffic when compared to other Behemoth players in that industry then your business strategy needs a little shake-up.
What are Custom Promotional Gifts?
These are items or merchandise with your business logo or identity embedded in it that are given away, and it serves as an apparatus to promote your business identity, logo, product or used as an incentive for employees to improve their morales to work. The efficacy of custom promotional gifts cannot be quantified as it is an effective strategy employed by businesses to increase or broaden market penetration, perfect to initiate a conversation in a trade show and also custom promotional items helps in increasing customer’s loyalty to your brand. Promotional gift items can be used in political campaigns with a custom slogan of the political party and as an incentive in a fundraising event.
Custom Promotional Gifts ranges from custom apparels, bags, calendars, candy and snacks, custom caps and hats, computer accessories, golf items, etc. The first use of promotional Gift item can be traced back to 1789, where a commemorative button aimed at the presidential election of George Washington was presented to the president to honor his triumph at the polls. Though it did not take off until the mid-1900s which saw the booming use of promotional gift products, the 2012 Academy Award gift bag reportedly comprised an ordinary bottle of Purell, hand sanitizer in an extraordinary Gold sleeve encrusted with jewels.
Do you know that Gucci sends deluxe cakes to their best customers on their birthdays?
It has been estimated that company’s spends over $20 billion yearly on custom Promotional Gifts items, thus it implies that most of these Behemoth companies understand the intrinsic relevance of a market-based Promotional Gift item to the growth of their business. Also, about $41 billion is lost by US companies annually due to poor customer service, invariably if your business is not getting it right with your customers, you are practically losing revenues to your competitors. Deducing from a recent research carried out on the behavioral pattern of customers, about 53 percent of customers will stop patronizing the services you provide if they feel unappreciated and this behavioral trait conforms with practical neuroeconomics which emphasized that it becomes disastrous when perceived pain outweighs anticipated gain. Therefore, appreciating your customers for being loyal, giving incentives to outstanding members of your workforce does not the only market or increases production it helps in preserving the longevity of your organization. Do not underestimate the effect a grumbling staff can accentuate to the stability of your business and cause chaos that may be demeaning to the overall Job performance of the other staffs.
In choosing Promotional Gift items for your business a lot of factors have to be considered. What is the motive of such Gift Items? Is it solely for marketing purpose? Or was it meant to appreciate your best customers or as an incentive to boost staff morale? If it is solely to be employed as a marketing tactics then will it be cost and impression effective when juxtaposed with other advertising tools?
Umpteen a time businesses have been fretting on either to employ Promotional Gifts because of the perceived exorbitant price. This behavior can be ascribed to most Behemoth companies like Mary Kay cosmetics that issue Deluxe Pink Cadillac cars to their best employees, or the Gift bags churned to celebrities which amount to thousands of dollars. But the reality is that in as much as your organization does not have such ginormous budget there are gift items that customer finds appealing and useful on a daily.
According to 2017 PPAI reports on consumers behavior towards Promotional Gift items, it was discovered that people are more likely to keep your gift items if it is fun, functionality relevant and if it is a Trendy Gift item. Also the survey proclaimed that about 9 in 10 customers recall the name of the brand, 7 in 10 of the people who received your Gift product are likely to do business with the brand, and 8 in 10 recalls the custom message of the item they received, about 82 percent had a more favourable impression of the brand.
If you are to implement a custom product in your business, then you must be sure that such gift item will be useful to the targeted audience, because if it is not it can go a long way to portray your business in the worst way. There are a lot of companies involved in using promotional gift products; yours have to be distinct, and it should be in a way that the recipient feels proud to flaunt and brag about it. You will have to envisage being in the shoes of the recipient to comprehend the ideal gift to disseminate. Also, for an effective Promotional Gift, look for ways to personalize the item with your customer’s name and your brand visual identity.
Why you should invest in Promotional Gifts for your Business?
- Relatively low cost per impression: Do you know that Promotional Gifts Items has a low cost per impression when compared to other advertising and media outlets as a marketing technique? Research had shown that Primetime television is nearly five times more expensive regarding CPI when juxtaposed with custom promotional items. The CPI for prime time television is pegged at an average of about $0.019, and the average cost per impression for a half page black and white newspaper, Ad syndicated day television, and spot radio rate is comparable at $0.006 and $0.005 respectively. Billboards folds at $0.003 and the average CPI for Gift items is about $0. 0004.
- Target Demographics, Geographics, and Psychographics: The ASI reports shows that promotional Gift items draw 500 percent more referrals from satisfied customers than an appeal note and it is the technique that is age appropriate notwithstanding if the better percentage of your target customers are millennial. It helps in understanding your customer’s attitude to your organization’s policy.
- Ideal and resulted oriented than pricing marketing strategy: According to research from Yale, it was discovered that if two similar products are priced the same, consumers are often less likely to buy one than the other if their prices are usually slightly different. Also, another research from Stanford University indicates that brands promotion increases the productivity of the recipient of a product rather than the intrinsic potency of the product.
A study from Stanford University proclaimed that when an Apple drink was given to two separate group of individuals who were using the gym; one of the groups was told that the beverages were bought at a relatively very low price and the other group were told that the beverage was purchased at a regular price and it was discovered that the group that was told the beverage was priced regular outperformed the other group. So invariably the potency pricing cannot be compared to the effects promotional products have on consumers.
Finally, according to Weber’s theory ‘the just noticeable difference between two stimuli is just proportionate to the magnitude of the stimuli which implies that a change in something is affected by how big that something was beforehand.’ Promotional Gifts as marketing is efficient and can really change the course of dwindling business if the right promotional service company is engaged.
If you are looking for custom promotional gifts for your business, you may search our Product Catalog that provides you access to millions of products options within specific categories. Should you require additional assistance in finding the right promotional gift, please contact us using either our live chat (available from 9:00am to 5:30pm EST from Monday to Friday); call us on (301) 963-3553 or simply use our contact form to send us an email and we’ll get back to you within 1 business day.