Shorten the Sales Cycle and Reduce Advertising Expenditures

May 16, 2012 by  Filed under: Advertising 

The Rosen Velocity Scale is a process tool used in advertising to drive and measure the speed in which the communication stimulates the interaction between customers and the brand via all marketing channels.

The velocity allows marketers to tune the assertiveness of the communication to their desired level of interaction with prospective customers.

At its core, the scale represents two opposite extremes – Brand and Interaction. According to Rosen, neither extreme will achieve the desired result of building brand and product demand simultaneously.

Ideally, marketers should move towards the middle of the scale to interact with customers, while respecting the brand.

When we closely examine the scale, it is apparent that the “Brand” is low-velocity. Communication is meant to deepen relationships with customer, create brand awareness and strengthen brand-equity over the long-term.

On the other end of the spectrum, “Direct” is short-term, high-velocity interaction with customers that motivates them to purchase your product.

This scale demonstrates how brand and interaction can build relationships with customers more quickly and with less money, thus maximizing ROI. Striking a balance between both extremes allows marketers to switch their advertising spend from mass media (Brand) to more targeted, personal and less expensive marketing channels that speak directly to the customer.

Ultimately, the Rosen Velocity Scale can help marketers develop a realistic, focused and measurable approach to their marketing efforts while reducing advertising expenditures and maximizing ROI.

The Importance of Promotional Products within the Scale

Promotional products can and should be utilized on both ends of the scale to maximize brand-equity and ROI.

Brand

Unlike television, print, radio and online advertising, promotional products have the ability to engage all five senses. This results in a far more memorable and favorable impression with customers that helps strengthen brand-equity, create brand awareness and deepen relationships with customers.

Studies have shown that promotional products outperform the majority of other marketing channels when it comes to recall, reach and impact.

A study conducted by L.J. Market Research determined that 76.1% of those surveyed could recall the advertiser’s name on a promotional product they had received in the last 12 months. Conversely only 53.15 of participants could recall the name of a SINGLE advertiser from a magazine or newspaper they’d recently read. This is a good indication that promotional products effectively create top-of-mind brand awareness.

L.J. Market Research concluded that 73% of participants reported using promotional products they’d received from advertisers at least once a week, while 45.2% claimed they used the product once a day. This frequency of exposure clearly demonstrates the positive impact of promotional products on brand awareness. Moreover, 55% of respondents said they kept and used promotional products for more than one year providing advertisers with long-term exposure and a low cost per impression.

Building brand-equity with customers is monumental to long-term success. This requires creating memorable, favorable impressions on customers. L.J. Market Research stated that 52.1% of study participants reported having a more favorable impression on the advertiser after receiving a promotional product from the advertiser.

Promotional products prove to be the ideal solution for low-velocity, branding efforts geared towards creating brand awareness, building brand-equity and developing meaningful relationships with customers that ultimately lead to brand recognition at time of purchase, resulting in a sale.

Their positive impact continues along the velocity scale into direct interaction.

Interaction

Marketers can use promotional products in many facets to motivate customers for purchase. They can be used to increase direct mail response rates or as an incentive within a well integrated campaign.

A research study conducted by Baylor University concluded that using promotional products within a direct mail campaign will increase response rates nearly 2X. Direct mail is a valuable solution to consider when interacting with customers. Direct mail offers marketers a personalized, targeted solution that speaks directly to customers and reduces customer acquisition costs in comparison to mass media.

A 2006 study conducted on behalf of PPAI determined in a nutshell that Promotional Products

  • May be effectively employed as a stand-alone advertising medium
  • Add to the media mix, creating impact by supplementing other advertising media such as television and print
  • Are a useful information and reminder medium
  • Enhance impressions about both the brand and product
  • Contribute to consumer intent to buy

Promotional products prove to be flexible, versatile and vital. It is apparent that they can utilized on both ends of the Rosen Velocity Scale and aid marketers in their brand and interaction efforts with customers. More importantly, their impact on long-term and short-term advertising success is unparalleled.

Oliver Gagnon
Principal
T.800.810.0572
http://www.inkelement.biz

Article Source:
http://EzineArticles.com/?expert=Oliver_Gagnon

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