Think Small and Smart: How Small Business Can Use Promotional Merchandise As a Marketing Strategy – Wisely

Marketing StrategyIn an increasingly information-intensive market, leaving impact on potential customers continues to be a difficult feat.

Amid these challenges, promotional products offer a unique opportunity to get your brand out to your target audience and hopefully, keep it there.

A lineup of promotional merchandise — ranging market-proven goods, such as bags, umbrellas, tumblers, to more innovative items, like power banks, custom lanyards and other corporate giftscan do a lot.

Depending on your goals, they can:

  • Establish brand recognition: Promotional products can subtly or not so subtly embed your brand name into the minds of current and potential consumers.
  • Show customer appreciation: Perks provide a great way to reward customer loyalty.
  • Enhance your media plan: Promotional items, especially usable ones, easily make their way into your customers’ homes. Unlike a flyer or a radio ad, a custom lanyard may permanently be in your customer’s desk or their office bag. People who don’t read the newspaper ad are likely to notice your logo on their umbrella on a rainy day.

The good thing about promotional products is that the only limit is your creativity. That means if you have great ideas and a great team to execute them, there are practically no limits.

Remember that all items will project your brand name and logo. Although optional, it’ll work in your favour to choose products that your customers will use on a daily basis and will serve as a reminder in the most consistent way possible.

Whichever items you choose, be sure to maximize your investment – because it is still an investment at the end of the day.

Take a look at how you can make the most of this small yet effective marketing resource.

Set clear, short-term goals for your promotion.

As mentioned previously, there are many possible reasons to kick-start your marketing through promotional merchandise. Boost sales. Increase brand awareness. Offer an opportunity to thank your loyal customers.  It can be anything.

Decide what you want the products to achieve for your small business. Set a clear, realistic short-term goal, the one you believe is most commercially sound for you at the moment.

Most starting businesses prioritize building awareness and attracting customers more, and boosting sales less.

Set a BudgetSet a budget and stick to it.

Effective marketing is your objective, but making money is still the goal.

Don’t jeopardise profitability by overspending. Identify your costs up front.  Factor them into your overall pricing strategy and marketing budget.  Keep careful track of all expenses, particularly indirect costs, such as shipping, handling and storage.

Determine the shelf life of your promotional products.

Many small businesses have stockrooms full of outdated items that will never be distributed – waste of cost and resources. Don’t order more than you need, which tells you to establish how much you need to begin with.

Printing your logo on custom lanyards or coffee mugs tells customers that your brand has arrived and your business is in it for the long haul.

If you do it wisely, promotional merchandise can be a cost-effective way to generate exposure, boost sales and encourage repeat customers. Once you’ve set your goal and a feasible budget, the opportunities are endless.

And the best part? It’s small, simple – yet, effective.