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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!
Increase Sales, Revenue, and Profit through Promotional Products
Promotional products have a significant consequence on the sales and income of the company. This is due to its direct effect on consumer views and perception. A lot of quantitative and qualitative proof is available to show how promotional merchandise can increase company sales and profit. A study conducted in 2004 by LJ Market Research looked at the effects of promotional gifts on consumer impression. It showed that the majority of consumers who received freebies immediately made a purchase. Survey participants included shoppers at an airport.
The data collected shows:
- 52% of consumers who received promotion items conducted transactions after taking the item
- 50% of people interviewed have suggested that they would check the items sold by the advertisers who provided them with promotional items.
- Businesses involved have reported that there has been 15% increase in profit after distribution of promo products.
Promotional items are very effective marketing tools to increase chances of consumer interaction. Free promo products allow a company to establish a favourable impression. Companies are able to gain more success than their competitors were able to achieve this through effective production and distribution of promo items.
Short Term and Long Term Effects of Promotional Products on Profit
Market analysis research was conducted by SMU. They were able to establish the quantitative effects of promo items on the sales of selected companies. The researchers conducted surveys to check the increase in earnings of companies after their promotional campaigns. The companies involved in the study included a food delivery services and a dry cleaner. The two businesses launched a wide scale distribution of promo merchandise to consumers belonging to their target market. The dry cleaners distributed promo items and discount stabs to consumers in addition to their regularly provided coupon. The food delivery service provided complimentary promo food items.
Data on the results of the marketing campaign are as follows:
- The food delivery service had a 30% increase in overall sales.
- People who were given promo items ordered 18% sooner than those who did not.
- Dry cleaning service customers who received promo items spent 27% more money than people who only received coupons.
- Consumers who received promo products also spent 137% more cash that the ones who did not receive any promotional items.
- Although the promo items were only valued at 5 dollars a piece, it was able to increase company profits by thousands.
- After a year, the overall income of the companies has been increased by 20% to 30%.
A Real Life Promo Item Example
A small bank in Arizona had 60 branches and launched a marketing campaign revolved around a promotional product. The bank used a flying pig promo item to signify abundance and growth. It was distributed as a toy, print ad, and even included in a commercial. Promotional items can alter consumer impression at a low cost, and they can be used to improve the image of a company. The promotional flying pig was a success. Company figures ballooned in a couple of months. 14,085 newly registered savings accounts. Overall business transactions increased by 70%.