As a business owner, you’ve got to keep a steady eye on the return on investment of every dollar you spend. Being a wise steward of how your company spends its money, whether on operations or marketing, is incredibly important. Inefficient spending can lead to cash flow crunches, missed opportunities, and other challenges that could ultimately leave your business on tenuous ground. Wise business owners exercise this mentality on all of their expenses, no matter the size.
So, is it worth it to spend the additional dollars on branded items? Numerous studies say an emphatic YES! Here are three reasons why there is a high ROI when small businesses invest in branded promotional products.
One of the biggest challenges businesses have in a crowded market is simply being remembered by clients. Many times there are hundreds of other options for your target market to choose instead of you, particularly because of the Internet. However, getting a promotional product in their hands can change the game. According to a recent study, 85% of people could identify the advertiser on the promotional products they carry around. This level of recall is significant and is far higher than television or other marketing investments.
When you’re looking at how to spend your money in marketing, impressions are a key metric to examine. Not only do you want as many impressions in your target market as possible, you want them to be as efficient as possible too. With promotional products, items as simple as reusable bags produce an average of 5,772 impressions per item. This isn’t just pennies on the dollar—it’s fractions of pennies on the dollar!
Proves Your Usefulness
When clients ask me what products would be best for them, I always make sure to ask about what would be useful to their customers. It might seem like a simple question, but it has profound consequences. Did you know that 69% of people say they’d pick up a promotional product simply because it was useful to them? Now let’s connect the dots. If the product is useful to them and promotional products help name recognition, don’t you think your customers will connect your company name with the usefulness of the product? It really is that simple!
If you’re interested in a promotional products strategy, I’m more than happy to have a conversation with you. I think you’ll find that the ROI of promotional products is incredibly high.
Connections Promotional Products
“Your Branded Strategy”