What’s the ROI of Your Business Promotional Gift?
Creating promotional items to enhance your brand is a great idea. However, like all great ideas, the logistics need to be weighed in advance so that you won’t end up spending more money than you ought to in order to put your plan into operation.
When it comes to creating promotional items to hand out to your customers, you certainly want to give them something of value that they will associate with your company in a positive manner. However, you don’t want to go overboard by spending far too much money to create an item that is, in the end, a promotional write-off. It’s important to strike the right balance.
Promo Items Give Your Customers A Positive Association
Perhaps the most compelling reason to give out these free promotional items is to give your customers something positive to associate with your business. For example, a handy sun visor not only keeps the glare out of their eyes, but also reminds them every time they put it on of where they got that item from. As a result, that person will be much more inclined to purchase from your business than if they had never received that item from you. The positive association that such a customer has of your company is publicity that cannot be overestimated. It’s practically a guarantee of repeat business.
The Items You Hand Out Should Positively Reflect Your Brand
It’s crucial to give out promotional items that reflect your brand in the most positive manner possible. For example, if you own a printing company, you might want to give out some shirts or sun visors that contain examples of your work. Whether you’re celebrating the anniversary of your business or some other event, such as the winning of a prestigious award in your industry, you can make this occasion the excuse for a free promotional giveaway that lets your customers know that you value them. These items are an excellent way to promote your brand while giving people a little something extra.
You Should Never Spend Too Much Money On Promotional Items
When you decide to allocate a portion of your company budget for the creation of promotional items, it’s important to consider the ROI (Return On Investment). You want to give them a quality item, but you don’t want to spend more on each item than you can afford to. You don’t want to give away a pen set that is worth more than the average item in your inventory. You’ll need to strike a respectable balance between the items that you desire to hand out versus the amount of money you can pay out to ensure the quality of those items.
Keep A Balance Between Good Public Relations And A Positive ROI
In the end, your most important consideration will be to strike and maintain a balance between the public relations potential of promotional items versus the return on your investment. Giving away these items is a great way to reinforce your brand and keep your name in the public eye. But you’ll need to do an initial cost-benefit analysis in order to ensure that you aren’t spending more on these items than your company budget can handle. Once you strike the right balance, you’ll be free to use a tried and true promotional technique.