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Have you ever really sat down and thought about what you want to get out of the marketing dollars you spend each year? Often, business owners don’t understand the value of strategically thinking about what they want from the promotional items they use as giveaways. Take for instance promotional pens, because these are so common and can be purchased at such low cost in many circumstances business owners write them off as unimportant.
This is not the case at all! A well thought out marketing plan that includes promotional pens as part of the plan can actually be analyzed to show whether the promotional pens positively affected the bottom line for the company. The key words in this last sentence were “affected the bottom line”.
It is not impossible nor too much work to measure the effect of promotional pens if you set some baseline data to measure from. Baseline data doesn’t really mean how many pens you gave away last year versus how many pens you give away this year. Increasing the number of promotional printed pens does not equal increasing the bottom line. This kind of thinking - bean counting - is archaic and rarely used in the business world today.
Baseline in today’s world of business means things like: what was the revenue from the previous year, what was the profit in the previous year, how many new customers were added to the roster etc.? When you use this type of information as your baseline, you are able to set measurable goals for your promotional pen giveaway activities.
For clarification sake, let’s say that during a promotional sale the previous year the revenue brought in was $50,000. You spent $500 on the promotional pens you gave away to customers who attended the sale. You can look at the ratio between pen cost and revenue earned. In this example you get a $100:$1 ratio. Knowing this baseline data, you can set up your annual seasonal sale goal to be the same or to increase it to say a $125:$1 ratio. If you don’t reach the goal, analyze what the difference was between the two years and make corrections in your planning for the next year.
If you are a company that has sales representatives located in various parts of the state, country or world, it would be beneficial to you, and the bottom-line profit of the company, to help these outlying representatives increase the visibility of your company within their territories or regions. This can be done by purchasing boxes of promotional pens and giving them to the representatives for distribution with in their areas.
Do not believe that the company’s representatives will understand how to market and promote using these promotional pens. In fact, assume that they don’t know how. It is important that you make a plan for how to teach the company’s representatives appropriate strategies for distributing the pens. If this is done, there is a good chance that the company’s name recognition will be increased in a positive and productive manner.
We at Ideasbynet are here to help you with
your promotional gifts requirements. Call us: 0870 787 5527
- Our Promotional Staff are highly experience and will provide
you with the dedicated professional service you would expect from
a major corporation.
Browse our massive online catalogue of promotional items and promotional products for a diverse
selection of gifts all at great low prices.
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