Many people feel that the cost of promotional products is beyond their budget or in difficult times, all promotion should stop. Nothing is further from the truth. Promotion is vital, especially during difficult periods – however, businesses should choose strategic advertising tools that create customer loyalty and have a high ROI (return on investment).
In this article we will highlight the importance of gentle advertising with promo merchandise to secure relationships in tough market conditions; keep on reading to find out why your marketing plan should always include promotional items.
Promotional products are an essential part of any marketing plan
As Bruce Barton said, “In good times, people want to advertise; in bad times, they have to.” However, your range of options may be limited during bad times. Unlike other marketing strategies, promo products present cost-effective value in challenging times. History has demonstrated multiple times how businesses that keep advertising during crisis outperform competitors who did not advertise during those times. The profits of the latter can drop as low as zero when cutting back on advertising. When some of the players on the market step back, a gap develops and the others can take over it, thus increasing their market share.
Here is why you should choose branded merchandise as a marketing strategy when your budget is limited:
1. Setting your business apart
Promotional products enable you to increase your business during challenging market conditions. When you choose to keep marketing despite the difficult times, you display confidence in your company and make your business visible in the marketplace. At the same time, in the era of all digital marketing, consumers crave promotional products that they can touch and feel and that provide good value to them.
2. Long-term effects
Keep your budget quietly working for you through strategic activity like promo products. Unlike other promotion tools, promotional products ensure repeat exposure (even thousands of impressions) and your brand message is communicated more effectively.
3. Securing business relationships
A thoughtful, useful branded item is the best way to create and maintain business relationships with potential customers. Offering a useful, physical object helps to establish rapport more than a visual message because you instantly provide value to the recipient and they feel appreciated and cared for.
4. Build loyalty & retain existing customers
The psychology of gift giving shows that “We often give gifts to re-confirm or establish our connection with others, which means that they’re a reflection of both the giver and the receiver, as well as their unique relationship. Giving a gift to someone we care about allows us to communicate our feelings and appreciation for them.”
5. Converting leads
Promotional products are so effective at converting leads because they stay front and centre of daily life by providing instant value. This is why you need to focus on useful and quality promotional items that recipients will use on a regular basis.
What promotional items to choose during challenging times
Is your budget limited? You absolutely must keep advertising; however, you should choose your promotion tools wisely. At VMA Promo Products we recommend items that have a higher perceived value yet are not being purchased when household budgets are leaner.
Consider quality leisure items suitable for the season you give them, such as blankets like Oslo Luxury Blanket heading into colder months and sun protection like the Bahama Beach Umbrella in warmer months. Likewise consider tech items and gadgets which are not seen as vital, but can make one’s life so much easier.
Maximise your budget
Ship shipping is a useful way to stretch your budget if you don’t require your items immediately. A little bit of planning goes a long way and if you are able to wait for delivery, this is a great way to secure indulgent branded merchandise for your customers. You may even consider split shipping for urgent items so you can get enough (via air express) for that tradeshow you are attending now, yet benefit from the lower cost ship shipping for the balance of the items for later.
You can extend your ROI by choosing a durable and useful product that has high daily value for the recipient and increases the longevity of your message. Each time the item is used you remain top of mind and this can be extended if your item is used in public spaces and becomes a talking point.
As a solutions team, whatever your budget, whatever your idea, we can help you out. Looking to keep your advertising going no matter what? Talk to the VMA Promo Products team to tailor a solution within your budget for quality items that will keep you ahead of your competitors!
