What Type of ROI Can Promotional Products Offer?
When choosing marketing and promotional products, it is common to wonder what the ROI (return on investment) will be. While this is understandable, there is no set formula for what works best in marketing. It is impossible to predict what a promotional product’s “ROI” will be, particularly because in marketing there are different types of promotional product ROI. To label a return on investment as only monetary would be significantly simplifying the impact that promotional products can have for your business.
What Exactly Constitutes ‘ROI’?
First, it is important to establish what ROI can mean for your business. There is obviously monetary ROI – when a promotional product converts to a sale. But, promotional products can also foster goodwill and enhance and extend your branding efforts. Think about the marketing real estate of someone’s desk. If someone sits at their desk every day then that is tremendous opportunity to market your brand if you can take up even a small portion of that real estate. Calendars, notepads, mousepads, mugs, Bluetooth speakers, pens, and more that sit on everyone’s desks can be custom branded. Each time that person sits down at their desk they will see your logo. This creates brand recognition/recall, fosters goodwill because they remember that you gave a gift, and may just be the reminder they need when they need your product or service to give you a call. That is tremendous and diverse ROI!
Diversify Your Definition of ROI to See the True Potential of Promotional Products!
In addition to utilizing someone’s desk real estate, you can strategically use promotional products as creative marketing tools that create brand recognition and help you grow your social media presence. Branded wearable promotional products are great to hand out at events. You can encourage people to snap a pic and tag you so that they can win a prize. Another fun way to increase social media engagement is to encourage people to snap a picture with your logo any time they see it. For example, if they are out at the bank or a local restaurant and see your branded pen on the counter, they can take a picture of it and tag your social media profile to win a prize. This enhances the ROI on a relatively small investment in a promotional pen and creates a grassroots marketing movement for your brand. When discussing branded promotional product ROI, it is important to look at all the different ROI types and potential with any given item so that you can maximize your marketing budget!