What are promotional products?
Promotional products, usually imprinted with a company's name, logo or message, include useful or decorative articles of merchandise that are utilized in marketing and communication programs. When promotional products are distributed free, they're referred to as advertising specialties. When the imprinted items are given in exchange for a purchase, deposit or financial contribution, they're called premiums. Other kinds of promotional products are business gifts, awards and commemoratives.
What is the purpose of promotional products marketing?
Promotional products marketing is used for a variety of purposes. Thanking customers for patronage, introducing new products, services or facilities, reinforcing established products or services and generating sales leads are just a few of the marketing applications. Promotional products can be used internally by organizations to motivate salespeople and other employees or to recruit new employees or members. These objectives are achieved through either simple distribution of the products or through comprehensive promotions developed by Irving Kannett & Associates.
Principal uses of promotional products:
Recipients report they look for the following characteristics in receiving a specialty:
What are the advantages of imprinted promotional products?
Promotional products marketing fits into any advertising budget, complements other media, can be directed to selected audiences, and remains to repeat the advertising message, without added cost, each time the advertising vehicle is used. Because these items are useful and appealing, they are effective as incentives and motivators. The thousands of products available allow flexibility in planning promotions.
Much of the industry may be ascribed to the refocusing that has taken place in marketing during the last two decades of the 20th century. For one thing, marketers have rediscovered the importance of customer retention. It's a lot cheaper to keep the customers you've got than to go out and find new ones. Ad specialties and business gifts, presented in appreciation for patronage, have long been part of the customer-retention culture.
The erosion of mass media effectiveness has prompted marketers to look elsewhere for methods that can help move their goods and services. They have turned to premiums and other forms of sales promotion that entice consumers with added value offers.
Equally notable has been the realization that communicating to mass audiences rather than to smaller niches is wasteful and unproductive. This plays well for promotional products which, like direct mail, can be targeted to selective audiences. By addressing Only prospects, the advertiser saves money that would otherwise be wasted on persons having no interest in the advertised product or service.
The usefulness of promotional products also offers an advantage not found in other media. Recipients usually keep, and sometimes collect, what they can use. Every time an ad specialty is used or referred to, the advertising message is seen.
What are some of these promotional articles of merchandise?
Since there are more than 15,000 different types of items used as promotional products, it would be difficult to list them all. Some of the more conventional articles are ballpoint pens, calendars, T-shirts, coffee mugs and glassware, portfolios, pocket calculators, cutlery, key tags, and desk accessories.
Top Ten Selling Products by Dollar Volume
Which product classes are the most popular?
Each year, advertisers spend more than 15 billion dollars on products they purchase through professional promotional products distributors like Irving Kannett Associates. The most popular product categories are: Wearables which represents 24.0% of the market; Writing Instruments which represents 11.9% of the market; Glassware/Ceramics which represents 9.4% of the market; Calendars which represents 7.7% of the market; Recognition Awards/Trophies/Jewelry/Clocks & Watches which represents 6.4% of the market; and Buttons/Badges/Ribbons/Stickers/Magnets which represents 6.2% of the market.
Research shows . . .
Recipients of ad specialties remember the advertiser's name. A recent study showed that nearly four out of ten (39%) persons receiving specialties could recall the name of the advertiser as long as six months after they received the specialty.
For creating awareness among a selecting audience, specialty advertising is hard to beat.
Promotional products, used as dimensionals in direct mail solicitations, can boost response rates by as much as 75%.
In building customer loyalty, in terms of reducing elapsed time between orders and repeat orders, promotional products are likely to outperform coupons or no promotion at all by as much as 12.9%. In terms of order frequency, by as much as 16.2%.
The main strength of promotional products marketing are tangibility, listing ability, creative impact, good applications flexibility, ability to be tangible symbol and motivate tweaks behavioral change.
Business Gifts gifts to foster customer good-will and retention.
Employee Relations & Events morale and motivation, corporate/ employee events, employee orientation, organizational commitment/ corporate identity, corporate communication, employee training (other than safety), employee referral programs.
Trade Shows trade show traffic generation.
Public Relations corporate involvement with community, fundraising, sponsorship, school programs, media relations, corporate image.
Dealer/Distribution Programs dealer incentives, co-op programs, company stores.
Employee Service Awards anniversary recognition, service awards, etc.
New Customer/Account Generation new customer or new account generation.
Not-For-Profit Programs Not -for-profit use for fundraising, public awareness campaigns (health, environment, public safety, etc.)
Safety Education/Incentives employee safety and education
Brand Awareness promotion of brand awareness and brand loyalty.
Employee Incentive Programs sales incentive, TQM/quality programs, productivity, inventory reduction, error reduction, attendance improvement.
New Product/Service Introduction new product or service introduction.
Customer Referral customer referral incentive programs.
Marketing Research marketing research, survey and focus group participation programs.
WEARABLES/APPAREL consists of Aprons, Uniforms, Blazers, Headwear, Jackets, Neckwear, Footwear, etc.
WRITING INSTRUMENTS consists of Pens, Pencils, Markers, Highlighters, etc.
GLASS/CERAMICS consists of China, Crystal, Mugs, Figurines, etc.
CALENDARS consists of Wall and Wallet Calendars, Desk Diaries, Pocket Secretaries, etc.
RECOGNITION AWARDS/TROPHIES/JEWELRY/CLOCKS AND WATCHES also consists of Plaques, Certificates, etc.
BUTTONS/BADGES/STICKERS/MAGNETS also consists of Decals, Transfers, Signs, Banners, etc.
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