You see them everywhere. From the logo pens that you bank gives away at its teller counter, to reusable totes with sponsor logos that are handed out at trade shows, and the big foam fingers you might get at a Major League baseball game, promotional products are ubiquitous. They’re also known by many names, including branded products, advertising specialties, SWAG, tchotchkis, giveaways, etc.
In the world of advertising and marketing, promotional products aren’t considered sexy. After all, it’s much more interesting to talk about your next Superbowl ad then the t-shirts you’re giving away at a promotional event.
There’s no denying that big, splashy media campaigns are fun to talk about (especially when they’re done well), but did you ever stop and ask yourself whether they’re really worth all the hype? Based on the data we’ve seen, the answer is “no.” In fact, based on return on investment, promotional products should actually be getting all the attention.
Why Use Promotional Products?
According to the Advertising Specialty Institute, promotional products provide the most cost effective form of advertising when compared to TV, newspaper, radio and magazines. There is some good data to back up this claim:
- 84% of recipients of promotional products can identify the advertiser
- 42% of recipients of promotional products have a more favorable impression of the advertiser
- 62% of recipients of promotional products did business with the advertiser after receiving an item
- The average promotional product is kept for 7 months!
No other advertising medium provides any where close to the name recognition associated with promotional products. They are less expensive as well, with an average cost per impression of $0.004 (compared with $0.005 for radio, $0.006 - $0.019 for TV, $0.019 for newspaper ads, and $0.033 for magazine ads).
When Promotional Products Become Collector’s Items
The data makes it clear that the ROI of promotional products is greater than for many other forms of media. But what happens when your promotional product becomes a collector’s item? Recently, we learned first hand how the value of a promotional product can skyrocket after its initial distribution.
Take the 2013 New York Mets Broadcast Booth Bobblehead we created featuring Keith Hernandez, Ron Darling and Gary Cohen. We made 1,000 of these for the Phillies vs. Mets game on August 27 and now they are selling on eBay for over $130! That is roughly 15 times the cost of the item!
What’s the value of this kind of buzz? The Mets brand is still being talked about online well after the game in which the bobbleheads were given away, and the bobbleheads have become keepsakes that will remind their owners of the Mets every time they see them. Very few print ads, TV commercials or radio spots can claim to have this kind of lasting impression!
Choosing the Right Promotional Product for Your Brand
There’s no doubt that promotional products can be highly effective tools for building brand equity and customer loyalty. But these benefits only come when you pick the right promotional product for your brand, event, or promotion. That’s where we come in. All of the items we sell can be bought elsewhere, but our expertise in the promotional marketing industry is unique to us. Clients like the Mets come to parsonsKellogg because our team knows how to source products that their fans will love and we bring this same attention to detail to every client with whom we work. Give us a call and we’ll brainstorm ideas with you!