Ask five different companies what they think of promotional products and you’ll get five very different answers. Those answers shift depending on their promotional strategy or the ways they are using the products and merchandise. Success with the program, how well they leverage promotional merchandise to meeting goals, also influences how a company will answer.
Swag, promo merch, tchotchkes, giveaways and freebies — promotional products have just as many names as they do uses. Just as businesses are constantly adapting to market shifts, customer pressure and new technology, they are uncovering new strategies for their promotional products.
5 Ways Businesses Are Using Promotional Products Today
The days of ordering cheap pens with a logo are over. Promotional products have grown up with business, and smart companies are finding new and innovative ways to make the most of branded merchandise.
We’re covering a few of the savvy ways companies are growing and solving problems through promotional merchandise.
1. Brand and Brand Promotion
In many ways, branding is a numbers game. You can have a clear vision for your business, and an engaging message that rings true with that vision, but if your customers and prospects haven’t heard of your brand, it won’t matter for sales. You need to boost your brand visibility, and promotional products can help.
By providing customers useful, branded products that match your brand and brand messaging, you can increase brand visibility. In fact, 9 out of 10 people will remember the name of the company that provides them a promotional product, and 72% of users link the quality of the product with the reputation of the company. Promotional products are a great way to connect customers to your brand.
2. Marketing and Lead Generation
With the right tactics, promotional products become a powerful tool for lead generation and sales. Many services and products with a longer sales cycle require multiple touchpoints with the prospect. The right promotional product can provide a touchpoint. It becomes a low-cost marketing tool with a long lifespan sitting in the hands of your best prospects.
Promotional products can also help you stand out from the crowd, and provide opportunities for cross selling or upselling. Look at your promotional merchandise as a step or point on the buyer’s journey. Consider adding a call to action, a next step for the buyer, and contact information on the item. With the right merchandise, you will be the first company your customer reaches out to when they need additional help.
3. Customer Rewards and Promo Products
Customer loyalty is critical for business success. Customer churn, or losing a paying customer, is extremely costly. It’s lost recurring revenue as well as lost future revenue. Replacing that customer is expensive. The CAC (Customer Acquisition Cost) for a new customer is more expensive than retaining and additional sales with an existing customer. Add it up, and losing too many customers can quickly sink a business.
Using promotional products as customer gifts or as the foundation of a reward program can boost customer loyalty and prevent churn. It adds extra incentives for loyalty from the customer and gets your brand in the customer’s hands. It can keep you top of mind, especially when it comes time to reorder. The right merchandise also shows that you understand the customer and value their business. A strong reward program quickly pays for itself with stronger customer loyalty and additional sales.
4. Employee Rewards and Gifts
Employees are the most valuable resource for your company. Employee engagement is a measure for the passion and commitment your employees have for the business. It’s more than just job satisfaction. It is the willingness to go the extra mile when completing work. It’s the motivation for working harder, doing more, and advocating for the business. In truth, employee engagement plays an important factor in business success, customer satisfaction and productivity.
A promotional product makes an excellent tool for boosting and promoting employee satisfaction, engagement and advocacy. It can be a physical reward for employee effort. Branded promotional items can also be a reminder of the relationship between the business and the employee. It can help boost the loyalty and engagement of not only the employee who receives the merchandise, but also inspire other employees.
5. Productivity Support and Internal Branding
The COVID pandemic has taught all of us, businesses included, many hard lessons. One lesson that companies have come to embrace is the importance of supporting employees during difficult situations. If you take the time to invest in and support employees, you can increase employee engagement and boost their productivity. You can help employees to do their job better, which in turn makes the business stronger.
Consider designing care packages for employees to help them work better and be more productive. For example, for employees working from home, a kit with productivity tools like a bamboo lapboard and a branded mouse pad. Even simple, low-cost promotional products like cookies and a bag of ground coffee can bring smiles to the faces of employees and reduce the pressure they may be feeling. Add a branded element to reinforce the connection employees feel to the business.
The Next Generation of Promotional Products
The sky is the limit when it comes to your promotional strategy. With the right promo partner and an eye for innovation, you can leverage the latest in branded merchandise and promotional products to boost your business, convert prospects, build your brand, inspire customer loyalty and motivate employee engagement.
Contact GO2 Partners and ask about our promotional products team. See how the experts at GO2 can help you reach your goals and solve the challenges holding back your business. We’re here to help.
