In today’s world of technology, many businesses resort to online marketing, and the power of promotional products is often overlooked and undervalued. Statistics, however, will show why promotional products are still beneficial in this digital age.
Since 2013, IBISWorld reported an average annual rate increase of 2.7% for the promotional products industry. In 2018 alone, the industry saw a growth of 3.5%. Handing out free promotional products can be a powerful advertising strategy. The items provide long-time interaction not only with existing but also with potential customers. That is why businesses, ranging from startups to well-established firms, are still resorting to this marketing strategy. Companies are reaching out to printing services in Utah to customize a wide range of other products to hand out to customers and increase brand exposure, brand recognition, and customer loyalty.
Here are some interesting numbers and advantages of promotional products:
- Eighty percent of consumers have received a promotional product.
- Sixty percent of such consumers keep the promotional products for up to two years.
- Seventy-seven percent say that the number one reason for keeping the products is the item’s usefulness.
- Promotional products draw as much as 500% more referrals.
- Ninety-four percent remember the name of the company.
- Eighty-nine percent can still recall the advertiser even after 24 months from receiving the product.
- Eighty-five percent of people do business with the company after receiving the promotional item.
- Eighty-two percent have a more positive impression of the company.
Cost Effectiveness
Affordability is one thing that needs to be taken into account when putting up an advertising campaign. Handing out promotional gifts is one of the most affordable marketing methods with a high return of investment. Many manufacturers of promotional products keep the prices low for mass distribution, and the products may come out as costing even as little as pennies per item. But all the same, these products will manage to provide a long-lasting favorable impression on the customers.
High Return of Investment
Another reason many businesses still resort to promotional gifts is that this strategy is easy to implement. It works not only with external customers but with internal customers as well: the employees. The return on investment on employees will be ones that cannot be neglected.
But how do you know which promotional products can best support the company’s goals and promote the business? Some products are useful, but other times, they just do not make any sense. Although there is no need to spend big money to see a return, it is important to choose promotional products that are useful and are of high quality.
Why? Consumers will most likely associate the quality of these items with the quality of the company. Many staple items for the kitchen or office, like key chains and pens, are relatively low-cost but will likely still leave an impression on the users.
Managing to understand why promotional products as a form of marketing strategy continue to be relevant in this age of technology can be difficult. The numbers mentioned above should help advertisers understand why these products are still being used. The benefits that they provide should be able to convince any marketers to use promotional products as part of their advertising campaign.
