Every marketer faces a budget crunch every year but this year it is going to be different. This year, marketers will probably not even get the usual quota of their budget spend and may have to do with very little, thanks to the recessionary trend. However, they need to show the same enthusiasm and enterprise to make sure that the brand image is not compromised and enjoys top of mind recall with the customers. This is a test and it is going to take all the ingenuity and creativity to come out a winner.
The good news is that it is not impossible and you can take the help of promotional products as a very viable alternative to conventional advertising to meet your objective. With these products, you are sure to be able to sustain the visibility of the brand within the budget allotted to you as there is a wide choice and budget is never a constraint for picking the right giveaways.
The variety and price points allow you to play around with different merchandise and optimize your budget spend. You can also fall back on trusted and time tested gifts that you have been distributing over the years to do the trick for you this time also.
You can also look at the following options:
1. Distribute lesser quantities of the product that you have been always giving, but to a reduced number of customers selected by you. You could do an A, B, C classification of customers according to revenue, tenure for this purpose and then choose the customers who should be receiving your chosen items.
2. Distribute a lesser priced alternative product to the left out customers. This way you will not disappoint anybody and will have also served your purpose. Care needs to be taken to however ensure that there is no compromise on the quality of the product, as that will really set you back a lot.
3. Look for an equally functional but lesser priced and durable quality alternative to the ones you have traditionally been distributing. Here, you are not disturbing the utility value of the product, but just presenting an alternative, resulting in some cost savings for you.
The above measures will help you to tide over the problem this year. Customers also understand the constraints that everybody is facing and are not likely to be fussy about what you are giving them. The objective behind this is to just ensure that your brand does not suffer due to the economic downturn and by distributing these promotional products, albeit low on profile, you are doing your best to sustain the interest in your brand and company. More importantly, you are not allowing competition to make an easy entry and walk away with your customers through this brand building exercise.
Lottie Carrot works in the promotional products industry for Argon Promotions, the leading company in terms of innovative business gift ideas. Lottie works closely with businesses to help market their products and services by providing information and help in the selection of suitable promotional products for their advertising campaigns.