Perhaps you are wondering if there is really an ROI on promotional products. Are they worth including in your marketing strategies?
Thoughts like these are totally valid and understandable. Of course, no business owner wants to waste their money ordering giveaways that their consumers and prospects won’t appreciate. However, one main concern is measuring your return on investment.
What Is ROI?
Marketing Return on Investment (ROI) is a percentage that measures profitability, which a lot dread calculating. Simply put, it is the benefit you get from an investment. It is usually calculated by dividing the net profit by the total amount of investment. The number is then multiplied by 100 to get a percentage.
There are various ways to measure ROI depending on your goal. Are you looking at your investment from a dollar perspective or you aim for return on impressions? The latter focuses on creating an impression amongst customers and clients. It is all about brand image. This is where promotional products come in.
Why Choose Promotional Products?
Fortunately, you don’t really need a calculator to measure ROI on promotional products. This is especially the case when you are after return on impressions.
Promotional products leave impressions and you can easily measure the impact of your business through their response.
Here are some reasons why you should invest on promotional products:
Improved Brand Image
Promotional items boost brand awareness and improve the overall image of your business. A study conducted revealed that 76.2% of recipients can recall the specific product, the item they received, and the brand message. This applies to promotional products they received within 2 years.
Longer Staying Power
Giveaways that fit into the daily lives of the consumer have more staying power. The average time they are kept is 8 months. Some even keep the promotional item longer depending on its use.
Positive Customer Reactions
Promotional items are more personal compared to TV, social media, or print ads. Though simple as it may seem, a marketer handing out a promotional item instantly creates a bond with the recipient. You’re like telling your target market that you appreciate them.
Giveaways undeniably make customers happy. They elicit positive reactions and certainly grab your audience’s attention. In return, your business is also appreciated.
Ready to Get your ROI on Promotional Items?
The next thing to do after realizing the importance of promotional items in running your business is to plan. What will your giveaway be?
There are many business promotion tips you can find online but have you heard of compressed t-shirts yet? These are the newest trends in the giveaway industry since people are so used to receiving traditional giveaways. Imagine mugs, keychains, tumblers, fans, umbrellas, and the likes.
If you like a twist to your promotional items, then you must definitely try handing out compressed t-shirts this year. Find out more about this product by giving us a ring at 1-877-932-7489. You will be surprised by the ROI on promotional items like this.