As a business owner, whether a large corporation or a small start-up, it’s critical that you understand the importance of promotional merchandise for your business. After all, this tactic has been around for centuries. George Washington used promotional merchandise in 1789 when he used commemorative buttons after being elected president.
Now, here we are in the 21st century and promotional merchandise is still critical, despite the advancements in technology and the way times have changed. In this article, we’ll explore 6 reasons why promotional merchandise is important for your business.
Effective, Low-Cost Marketing
Suppliers and distributors of promotional merchandise price the items at such affordable prices to begin with – and they get even better the more you order. For anyone on a marketing budget, promotional merchandise is a great way to easily reach lots of potential customers. In fact, research shows that around 80% of consumers own at least 1 promotional item.
For the business, it’s much more cost effective than other advertising strategies, and much more economical than TV, radio, or newspaper ads.
Long-Lasting Exposure
These days, consumers are bombarded with information, brand recognition and recall has become a profession. In a 2007 market research survey, it was discovered that consumers were exposed to as many as 5,000 ad messages every day. In 2021, that number is likely to be quite higher. Chances are, they don’t remember many of the companies from the 2 to 3-minute ads they’ve seen or heard during the day. However, if you give them something tangible, research indicates that 60% will keep those items for approximately 2 years and 89% will remember the company in the future.
Sets a High Standard
In addition to bringing recognition to your company, promotional merchandise indicates the quality of your business. When you use promotional merchandise, you put yourself to a higher standard. Studies show that 85% of consumers are more likely to interact with a business that has given them something.
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Tax Write-Offs
One of the perks of promotional merchandise that is often overlooked is that, as long as your marketing efforts are reasonably related to your business, you can deduct the expenses from your income.
Employees Appreciate Them
While promotional merchandise is generally sent out into the public to promote your business to consumers, employees love them too. In fact, many employees state that when they have a coffee mug, stress ball, pen, or anything else with the company logo, they are proud to represent the company they work for.
Bolsters Other Marketing Efforts
Today’s technology allows us to connect and communicate without a second thought- and marketing isn’t any different. Marketing efforts are focused on social media and digital marketing, but you can offer promotional items that improve social media campaigns, and increase awareness and traffic to your website. In fact, research shows that the effectiveness of other media is improved by 44% simply by adding a promotional item to social media advertising.
Conclusion
If you want to improve your chances of being successful in business, it’s critical that you understand the importance of promotional merchandise for your business. As you can see, this is a low-cost way to provide long-lasting exposure for your business. Plus, it is a tax write-off, which is always a good thing. They set a higher standard for your business and bolster your marketing efforts. Finally, your employees appreciate them as well and are happy to represent a company that is willing to show they care.
Digital Strategy for 2022