As a business, you want to make sure that your company gets the recognition it deserves, and the key to a successful and steady business happens to be marketing and advertisement because, at the end of the day, you need customers to keep your business running. Apart from the obvious and commonly used newspaper, television and social media advertisement options, a lot of businesses also rely on promotional products and giveaways as a means of branding.
Assessing the return on investment on promotional products is not easy, however, there are a few steps that you can take to ensure that your promotional product ROI is satisfactory.
- First and foremost, you will have to spend some extra money using actual good products as your promotional products, Things like balloons, silicone bracelets and pens are easy to lose, and will not have any impact. However, things like calendars, mugs, and even USBs with your business/company logo on them can serve as an effective means of advertisement for your business.
- While it is still important to attract new customers, it is also necessary to maintain your relationship with repeat customers as well. So, give your repeat customers the promotional products as well. In fact, multiple surveys have found that giving promotional products to repeat customers further strengthens their likelihood of continuing business with you.
- You can keep track of how well the ROI of your promotional product is going by interacting with people as you hand out the products. People immediately form a positive impression when they are given free stuff, so they are more willing to give you their email or fill a survey. By doing this, your customer is happy, and you get the opportunity to follow up and see whether or not the ROI of your promotional product is any good.