Promotional Merchandise Marketing – A Huge Yet Often Under Used Branding and Sales Tool
Many if not most of us have received a corporate polo shirt or some other promotional item at trade shows, conferences, from sales representatives, and in the mail. We all love them. However, I’ll bet few of us realize just how much we love them and how tremendously effective they are. Promotional marketing material combined with other branding and sales techniques are tremendously effective.
What is the evidence that promotional merchandise is effective. Since the early 90s, several studies completed by numerous major universities with very large sample sets have delivered compelling statistics on a wide range of very telling marketing and sales attributes for promotional merchandise. The universities include:
- Baylor,
- The University of Texas at San Antonio,
- Louisiana State University, and
- Georgia Southern University
The fact findings are very strong and perhaps even astounding. Consider these points:
- Adding a promotional product to an advertising campaign increased favorable attitudes up to 44%;
- Promotional materials increased message credibility from 33% to 54% in one study;
- Purchase intent rose from 17% to 25%. Purchase rates rose correspondingly. Purchase volume increased 27%. And, repeat purchases rose dramatically as well;
- Referral value rose from 16% to 26% and referrals rose as much as 500%;
- Name recognition increased almost 3X;
- Almost 1/3 of recipients were carrying materials received in the last 12 months and more than 50% used the item daily. If they didn’t keep the item, in 26% of cases they gave it to a friend;
- Offering a promotional item increased trade show visits more than 100% over attendees receiving no such offer; and
- Promotional items perform significantly better than coupons and they enhance coupons when offered together;
These results cannot be presumed to generally apply to any offer. Many factors must be considered when coupling promotional merchandising with a sales offer. However, assuming a promotional item is chosen that the buyer or consumer values over the long term, effectiveness is very high along a number of important marketing considerations. Few promotions or advertising campaigns so consistently can improve attitude, response, sales, repeat sales, and referral sales as promotional merchandise marketing can do. We all know people love free stuff and these studies prove the point with remarkable clarity over and over again.
Businesses should look at their value proposition, their customer base, their brand goals and consider how to apply promotional merchandise marketing in their overall marketing plans. Effectively designed and coupled, increased sales and market share is a reasonable goal.
Blake Ratcliff (US Naval Academy Graduate & Marine Officer, Serial startup entrepreneur, COO/CEO, multifamily / residential investment founder, and property manager).
Blake’s crafted 100+ business plans, prepared and delivered 1000+ investor presentations, and is an expert financial modeler. A deeply experienced real estate business person and startup business expert, Blake hones your Business plans, reports, and presentations.
Article Source:
http://EzineArticles.com/?expert=Blake_Dale_Ratcliff
