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PLEASE NOTE: The article below was submitted as part of a recent online competition we ran, inviting our clients and others to share their thoughts and experiences about using promotional products. For that reason the articles are written at a very general level only, and are far from ‘expert’ in any sense! It goes without saying though that if you now could like more detailed help or advice, please do not hesitate to contact us on 1800 519 071, or just send us an email. We would love to be of service to you.. that’s why we are here!
How Do Promotional Products and Custom Branded Products Help Business Establish Brand Equity?
Successful companies have several things that they do well. One is to develop strong bonds with business partners and investors.The second is to manage positive business relationships with customers. The key to successful customer relationship management is to establish high customer equity. You will have high customer equity if you have effective marketing strategies to make potential and existing clients loyal to your brand.
A brand can be established by developing a product that drives customers in due to its value, quality, price, and convenience. It can also be established using various communication tools, such as advertising and public relations, to build high market awareness. Another effective way to build high market equity is through relationship drivers. This includes giving away promotional products, like customised gift baskets, corporate mugs, fans with your brand on it, and logoed T-shirts, to stimulate sales and keep loyal customers. Here are the steps in using promotional items to yield a higher return on marketing investment:
Who are your targets?
Determine prospects that are most likely to become your first-time customers. Once you have identified potential customers, you can now implement the basic level of building relationship with the customer, which is mere selling.
Attract New Customers and Convert to Repeat Customers
Promotional merchandises or promo items entice consumers to be aware of your brand and eventually create a sale. They are beneficial when you have a new product launch or when there is a sale. More customers will visit your store out of curiosity for the promo items handed out. Others will come in because they are interested in your products.
Do you ever wonder how Starbucks attracts many new customers and encourage them to buy coffee again? Aside from convenience, it is because of the cups with the logo on it, customised T-shirts, logoed promo mugs, and all of the other promo items.
Conversion to Loyal Trusting Customers
Loyal customers should be treated knowledgeably. Make them feel valuable by handing out useful promotional gifts with your logo on it during Christmas and other special events.
Corporate products and Custom-branded products are more professional looking than personalised products. Though personalised gifts create uniqueness and personality, remember that you are dealing with loyal customers, so you should deal with them professionally.
Build Community Using Promotional Products
There’s no better way to keep track of your customers than active interaction. Build a community, where you can promote your business and products, post recent updates, ask opinions and suggestions. Offer logoed items to new members and custom branded items to advocates, those who recommend your brand to others.
Turn Advocates to Respecting Business Partners
This is considered as a big challenge for your business as you have to convince the advocates to become part of your business success. You have to encourage them to market bulk products and set your business as their distributor. They eventually become corporate customers. You have to work with them continuously and assist them to have an improved business performance.