Every business is focusing on promotional activities in today’s competitive environment. As days are passing, competition is increasing and so are the strategies for promoting a business. From print media to social media, every area is full of advertisements and promotional activities of different businesses. With the advancement in technology, people have moved towards social media and online shopping. Both of these methods are highly effective in promoting a business.
As a marketer, you must have a targeted audience on social media platforms as well. It is an effective decision that every marketer is making. Luckily, marketing has been blessed with promotional merchandise. The strategy has been recently evolved and the ball is in the marketers’ court.
If you don’t know about promotional merchandising, scroll down and find out all about it.
What Is Promotional Merchandising?
Promotional merchandising is a powerful marketing tool that includes promotional products for promoting an offering. Although most of the companies prefer traditional marketing tools, promotional merchandise has emerged as a cost-effective and time-saving tool for the same purpose. It is a go-to promotion for every product and it preferred by startups, small businesses, and not-for-profit organizations.
Promotional products are useful tangible items that carry the brand’s name, logo, message, slogan, or anything the firm wants. Since the trend for promotional merchandising has increased, different firms have stepped into the market as promotional merchandisers. They help a firm in printing and customizing the products you can refer to the finest firms like fast promotional products for customization.
Are Promotional Products Influential?
Now the question is, are promotional products or merchandise influential for the customers’ buying behaviour?
Promotional products are a highly effective marketing tool that enables the marketer to mess around with the customers’ senses. It allows better brand recognition and shopping experience for the buyer, but how is that possible?
Psychology says that humans don’t forget what they visualize but they might not remember what they heard after some time. Keeping that in mind, promotional merchandise has a significant impact on the customers’ purchase decisions.
Different surveys show that 88 percent of the customers remember the name of the advertiser on the products. 85 percent of people do business with promotional merchandise with the advertiser’s name and 83 percent of the customers like maintaining a relationship with these brands.
Definitely, promotional merchandise works for the buyer and seller.
Promotional Products Industry
The promotional products industry has grown rapidly over the past few years. The industry is currently valued at $23.3 billion as the Promotional Products Association International (PPAI) says.
As the report from PPAI continues, it also states that 89 percent of the customers received promotional products, 79 percent searched for the brand, and 83 percent were motivated to do business with the brand.
The numbers for the current year are yet to be extracted but the past studies show that the trend for promotional products will grow. The industry will grow by leaps and bounds. Why will the industry grow at such a rapid rate?
The answer is simple that the marketers are enjoying the bid numbers on sales, revenues, and profits. They have concluded three major reasons for keeping promotional products; fun, functional, and trendy.
- Promotional products are fun for the companies to give and the customers enjoy visualizing brands.
- They are also functional because it gets easier for a business to play the customers’ minds. Clients don’t forget what they see.
- And for everyone who follows the latest trends, promotional merchandise is an evolving and successful trend that can give you great numbers on the financial statements.
Impact of Promotional Merchandise
Now you are well aware of the fact that the promotional merchandise industry will flourish in the future and it has a positive impact on the customers’ buying decision. You must also know the ways in which it is beneficial for you as well as the customers.
Here are four benefits or impacts of promotional merchandise:
1. Cost-Effective Technique
You must have inferred the wrong idea about promotional products. They aren’t an expensive idea to implement. Entrepreneurs wrongly decipher the idea and step back from adopting the promotional merchandise idea. You must know that it is a cost-effective idea because you save a hefty amount from other marketing tools and your sales increase as well. It is an investment in the long-run, unlike other marketing tools that need to be refreshed several times.
2. Brand Recognition
Brand recognition implies the immediate recognition of the brand by the customers. It is the main target of every marketer that can be achieved through promotional merchandise. As mentioned above, promotional products mark the company’s message and name in the customers’ minds.
A promotional product stays in the customers’ surroundings for a long time, and studies say that a person can hang on the promotional products for 6.6 months on average. That is a big timeframe and an appropriate method of brand recognition.
3. Customer Loyalty
Brand recognition leads to customer loyalty. How is that possible? Seeing the brand name and message often leaves the brand in the customers’ memory. They are provoked to buy from you, and if your offering is top-notch in terms of quality and pricing, these customers become your regular clients. Customer loyalty is earned and that becomes a contributor to positive word-of-mouth. Your loyal customers will share their experience with their friends and family, giving you a chance to flourish.
4. Boosts Sales
Customers know who you are and what you are offering them. With promotional merchandise taking over their minds, they not only recognize your brand, but they are also motivated to buy your product or service. More and more customers visit your firm and the sales gradually boost. Higher sales mean higher profits for the firm.
Promotional merchandising has become one of the strongest tools of marketing. Businesses customize different products like shirts, wallets, bottles, pens, etc. with their business name or slogan. It is an attraction for customers. Psychology supports the idea of visualization and it is hard for a customer to forget what he or she saw. If you haven’t adopted promotional merchandising yet, it is better that you add it to your promotional strategy plan.
It is a million-dollar industry where merchandisers are earning great profits and you can be among them too. If not then you can refer to a merchandiser for your brand’s promotion. In either case, you will experience an increase in sales and profit. As time is passing, customized promotional products are taking over the market. Adopt this cost-efficient method soon to enjoy higher sales in lesser time.