ARE PROMOTIONAL PRODUCTS WORTH THE COST?
Prospective clients ask this question a lot: “Are promotional products worth the cost?” It’s a good question. It’s smart to spend money on advertising, but only if it will generate a good return on investment. So that begs the question, do promotional products actually work? 40 years in the business have taught us a few things. Keep reading for more information.
How Much Do Promotional Products Cost?
Most business decisions start with a question of cost. Advertising costs are especially important to analyze in order to maximize a return on investment. Thankfully, promotional products are actually very flexible from a cost perspective. Whether your budget is $100 or $1,000 chances are there’s a product for your needs. Customized T-shirts can be surprisingly affordable advertising solutions when ordered in bulk. Other products like mugs or totes can be ordered in the hundreds for minimal costs.
For some businesses it may be worth investing more money into fewer, higher-quality products. If you’re going to be attending a high-stakes convention, plain mugs with your company logo might not cut it anymore. Options like high-quality Nike polos embroidered with your logo or steel Yeti tumblers can make a big impact in a sea of cheap customized pens. The initial investment might be a bit higher, but you can use it to target more specifically and up the ‘wow’ factor.
What’s the Return on Investment for Promotional Products?
Once cost and products have been considered, the tricky part is gauging how effective a promotional product is as an advertising tool. Emarketer estimated that companies would spend over $129 billion on digital advertising alone in 2019. Traditionally, the understanding is that if you see an ad, and then buy that product or service at some point, the ad was successful. Advertising repetition is another method used to help increase the effectiveness of a marketing campaign. You may not remember a company’s slogan the first time you hear it, but by the 4th or 5th time you’ve seen the ad it’s probably embedded itself in your brain.
Here’s where we think promotional products beat out other advertising methods: longevity. A customized T-shirt or pen can last for years and years with no repeat investment. Chances are you still have some kind of promotional product from a business in your house or on your desk right now. Every time you use that item, you’re being advertised to again. If you eventually make a purchase from that business, that promotional product just paid for itself.
How Do I Pick the Right Promotional Product?
The key to picking the right promotional product is thinking about when and how you’re trying to advertise. Different items are going to be more appropriate for different situations. Customized stationary and pens are very affordable even at very high quantities, so from a cost-to-quantity perspective they’re amazing value. However, they might be better for in-office use to help with your branding or as take away items for customers when they visit your location. For public events like your store’s grand opening or a concert items like customized T-shirts or can coozies are a great way to make an initial impression.
Conclusion: Yes, Promotional Products are Worth It
As we’ve established above, promotional products have a variety of advantages that make them a great advertising tool. Promotional products are flexible, so you can stretch your marketing budget as far as possible. They’ve got variety, no matter what item you’re thinking of, there’s a way to put your logo on it. Finally, they create lasting marketing opportunities. Your branded products are going out in public, putting your name in people’s minds for a very long time. If you’re thinking of advertising with promotional products, contact 4 Your Logos today or give us a call at 414.543.4443. We have the products and expertise for all your advertising needs.