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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!
What marketing strategies do you need to consider when preparing to order promotional items?
How does overall market size factor into promotional item ordering?
Overall market size is a significant factor in promotional item ordering. It forces you to carefully consider the amount and type of promotional items to be ordered. Market size is how many people you are planning to appeal to or advertise to. Larger, more robust market sizes need smaller, easily transportable promotional items. Smaller market sizes often have bigger gains when they are connected with market heavy hitters. Thus, each market size requires a different set of promotional items.
How does market growth or decline factor into promotional item ordering?
Anytime your market size changes, the promotional item ordering strategy should be re-evaluated to ensure that the right amount and type of promotional items are ordered. Any new areas of customer growth should be considered as a new customer demographic to appeal to. This might infer the need to change or add new promotional items to your distribution rotation. Additionally, growth within existing customer market segments means maximising your distribution strategy to ensure there is minimal waste. Any expansion of an inefficient distribution process will lead to a larger extrapolation of said inefficiencies in your distribution. Consequently, your net losses will diminish your marketing gains.
If your company exists in a declining market, it is imperative that you are aware of this, and you maximise your existing customer relationships. Loyal customers are less likely to abandon your product when the market decreases, and as such, it is critical to keep loyal customers. Promotional items help this if they are presented as personalised, thoughtful gifts to ensure the client knows your company cares! This means how you order promo items changes a bit. You might go from mass distributed generic products (i.e. key rings with your logo) to more personalised products (“Jenny’s coffee mug”) in order to maintain customer loyalty.
How does general marketing strategy factor into promotional item ordering?
General marketing strategy should factor in closely with promotional item ordering. First, general marketing strategy dictates how much or what percentage of the budget is dedicated to ordering promotional items. Once the budget is determined, promotional item ordering should align well with other marketing angles being pursued. This will maximise the overall marketing campaign of the company. For example, a marketing campaign that is involved heavily in TV advertising during footy games might also do well with ordering and distributing customised footy balls.
How does changing corporate strategy factor into promotional item ordering?
Just like market strategy, corporate strategy factors heavily into promotional item ordering. Before your company places an order for a set of promotion items, think closely about what direction your company wants to go. When you think of your strategy and your planned direction. Consider how to deal with non-distributed products,and in case of success, how to place a new order of products. Finally, look again to ensure that ordering the product can be comfortably absorbed within your budget.