ROI - Return On Investement
Do you have money to burn?
Do you want to waste money?
If you embark on promotional product purchasing without any thought of concept, or integrating it into a marketing plan to produce a return on investment, it is just as effective as throwing your money out of the window.
Do you want to throw away £500 on promotional giveaways* or, invest £500 in promotional merchandise to produce £5000? Then talk to us.
We don't want you to waste your money.
For example...
How many of you exhibit? Investing at a typical 3-day show can consist of: the stand space (£2,000), man power (2 people for four days - one day to set up; £1500), corporate literature (£100), exhibition panels and stands (£1500) £6,000 in total. Then, at the last minute you look for some logo'd merchandise to hand out to exhibition attendees.
The cost of your stand and planned marketing needs to be considered in what you hope to realistically achieve over the three days. How many people can you talk to on your stand; how many of them are serious buyers? How much is an average sales worth? How much are you likely to get based on the 12% rule (only 12% of exhibition attendees are serious buyers)?
Based on this information, calculate what you need to invest to produce your show objective. If your market is high-volume, low-price then large numbers of cost effective products will help you achieve that objective. However many exhibitors have a reasonably priced unit to showcase or promote and the usual mass 'giveaways' (pens, keyrings, lanyards etc) are not the most suitable promotional tool.
Identify your objectives and then plan for what you need to spend and what merchandise will be attractive to a potential customer.
Imagine for a minute that your product has a unit price of £15000: why would a cheap plastic pen be appropriate for that potential customer? It needs to be something they will find useful and desirable and instead of 1000 items at £0.50p try 50 items at £10 each. You get a much better range to choose from and something your clients will keep - for the same initial investment.
Any investment on advertising is accountable. You have to be able to quantify the result and we can help you do that.
We don't want our clients to waste money on this method. To be able to monitor ROI your campaign needs to be structured:
- Identify your target audience.
- Select the right product for said target - they need to find that selection useful (so they will keep it & and use).
- How to distribute your promotional item.
- How to track your campaign success.
Ask yourself this: how much is your client worth? If your product is worth £20k, how much is it worth investing to secure that contract?
Remember, a consultation is not just for exhibitions and trade shows - any campaign that you might have coming up can be reinforced with a promotional consultation. This includes employee recognition (commemoratives), new product drives, brand exposure and awareness campaigns, marketing projects - anything you can think of to get your company, product and/or service out there and noticed. Call us for more information.
*Giveaways: by its very nature a 'giveaway' is just that. You are giving an item away with no expectation of return; thus you may as well throw your money out of the window! Promotional products are for promoting - they are form of advertising and with as with any other advertising media one would expect a return on investment. It should be no different with promotional merchandise.
Read our Top 10 Reasons to Use a Promotional Consultant...
...or Speak to one of our consultants now >>>
For more information on Promotional Consultancy and what it can do for your business or to arrange a session with our resident consultant, contact us on:
+44 (0) 29 2046 5353
info@promotional-product.co.uk
...or email us your details for a call back.
** Photograph **
1. Daniel Vineyard | Bellemedia
