Using giveaways to promote your brand is a very specific strategy. Your company’s promotional strategy may depend on one factor: the budget. Things like, ordering giveaways or attending trade shows will typically fall into your marketing budget. Working with a budget can be stressful, but it doesn’t have to be.
Commonly businesses use 6 to 20 percent of their revenue for marketing. With only about a fifth of your marketing budget going towards trade shows and other events, it’s not uncommon for marketers to feel constrained by their budget. The better you understand your budget and the more you plan ahead, the less of a burden it will be when the time comes to order products.
Where to Begin
Before doing anything, you need to calculate the maximum amount you can afford to spend on giveaways? This calculation is vital because the last thing you want to do is overspend. Your strategy drives revenue; not vice versa. Even if your budget is tight, you can still give away quality products.
One common method to measure budget is to recall past experiences, with most event planners basing their decision to participate in an event on past performance. Based on your previous success, you can evaluate if your spending for that specific event should be increased or decreased.
In the case of trade shows, your goal should be to gain qualified prospects through various marketing strategies. Promo items can be used at trade shows to attract leads. Considering how your company’s products tie into your business goals can help you set a base budget.
Now that you have a maximum spending amount, it’s time to plan how you’re going to spend.
What to Include
What kind of products should you budget for? Here are 4 common types of products you should include in your promotional products budget:
Trade Show Giveaways
Trade show giveaways increase booth traffic, gain brand recognition, improve brand image, and add value to the attendees’ overall experience. High-value trade show products can also help attract people to your booth.
Research from PPAI (Promotional Products Association International) has found that consumers can recall the advertiser of a promotional product they’d received in the last 2 years. It’s likely that consumers will remember your company based on the products you choose giveaway, so search for items that stand out.
Inexpensive Brand Awareness Giveaways
Inexpensive giveaways are often used “in the moment,” when delighting a lead or a prospect. These are the casual giveaways you can use throughout the year. They may be used for trade shows, career fairs, and other events, but in the end, they have the potential to raise brand awareness.
Since these products are usually inexpensive, you should keep a few different varieties on hand. Pens, water bottles, and tote bags are some examples of brand awareness giveaways, but if you’re looking for more ideas, we have a list of 10 inexpensive promo products.
Corporate Apparel for Your Team
Corporate logo apparel is essential for any business.
Corporate apparel is more than just adding your logo to a T-shirt – it’s a representation of your company. Your employees, clients, and customers will be wearing your brand when you give them that T-shirt, which means it’s vital to put some thought into your order.
Businesses order corporate apparel for the following reasons:
Employee or client gifts
T-shirts and hooded sweatshirts are both examples of everyday fashion. Giving employees apparel is also great for your company because it shows off your name and logo each time your employee wears the item outside of the office.
Employee Appreciation Gifts
Employee appreciation gifts are comprised of high-value items that show your employees that they’re valued.
Where would your company be without great employees? Appreciation gifts and incentives can be for special occasions, holidays, or rewards. These are the gifts that will make your employees feel special.
Don’t let your employees’ hard work go unrecognized. Gifts and incentives should be an important part of your promo products budget because employees are an important part of your business.
Planning your promotional products budget will give you the reassurance you need when you’re faced with a huge project. When you allocate your marketing budget for promo products, it’s important to plan for these 4 types of items. By planning ahead, you’ll be able to order the products you want, any time of the year.
All Seasons can print any number of promotional items, many of which we print on site. Contact us to find out how we can help on your up and coming projects.