3 Prime Benefits of Promotional Products
In an ideal marketplace, you could charge a premium price for your product, and customers would flock to your store. In reality, sales fluctuate and customers need enticement to buy goods. Promotional products, such as samples, discounts and contests, are tried-and-true ways to develop a customer base and ensure its loyalty, but marketing promotions must be done right in order to reap the benefits.
Getting New Customers with Free Promotional Products
Free samples can get new customers hooked on your products or services. Whether it’s an in-store promotional event where people get a taste and buy on the spot or it’s free items mailed to a potential customer of your online store, promotional products lead to sales.
However, free samples are not just a way to get your product to more people. Promotional items with your logo or contact information also increase brand awareness. This is most effective with service-oriented enterprises that want to corner the local market. Items to consider giving away include but are not limited to:
- Bottle openers
- Travel mugs
- Water bottles
- Reusable grocery bags
Marketing managers certainly know the value of the freebie. Getting subscription-service products free of charge for the first month is almost expected by modern consumers. Companies make back the cost of the giveaway when customers continue past the free trial period. Some also get customers who tried and canceled to come back by marketing directly to them, offering them more time at no charge.
Increasing Sales Volume with Discounts
Limited-time price decreases tend to bring customers in droves, especially if you undercut the competition. But, this is a careful balancing act between getting people to buy and making sure you still make a profit. Customers likely won’t be swayed by a mere 10 percent discount, and 50 percent off won’t help your profit margins. To keep customers, ensure your product is high-quality, and don’t run sales so often that people come to expect them.
Encouraging Loyalty with Contests
Social media marketing can be a cost-effective method of promotion. You can offer a promotional product, such as a free item, session or service, as the prize in a social media contest, granting entries for every “like” or “share.” If you run contests regularly, people will be inclined to follow you on social media and may eventually become customers.
The bottom line is that using promotional products leads to great benefits, including growing your customer base. If you offer great service and a great product, your customers will continue to come back time and time again.