Is your business attending a trade show or some sort of convention this year? What is the number one thing you always see the most of? The answer is other businesses putting their name out there by providing their guests with branded promotional products. Everyone loves FREE stuff right?
These companies are providing you with a small gift for several reasons trying to turn you into a potential client.
Companies that attend trade shows and conferences are trying to catch your eye with something to come to their booth. This could be new personalized tech. item such as a WiFi Smart Plug or Wireless Earbuds. These products are meant to draw you in so they can engage with you and have a conversation regarding their product or service.
After some time, you start to part ways and they give you a free sticker and pamphlet and maybe some other cool gadget that has their imprinted name on it.
Now let’s break this down and think about why their business just gave you a free product with their name on it.
Each company has specific goals they are trying to achieve when they spend their money on custom products with their names on them.
They can set qualitative goals in hopes to provide their brand with a higher perceived value which can reflected in the price point of their desired promotional product. They might even offer you a first time discount which make the deal which sweetens the deal a little more. Another thing that companies will try is to order promotional products that their niche will enjoy and make use of which will increase their competitive position.
If those businesses aren’t utilizing those methods, they might be focusing more on quantitative data to maybe see how many attendees, units sold or how many leads have been captured.
- Cost per Sale = Amount Spent for Event/Campaign (A) / Number of sales (S) = Cost per sale (CPS)
Formula: A / S = CPS
- Cost per Qualified Lead = Amount Spent for Event/Campaign ( A) / Number of Qualified Leads (L) = Cost per qualified Lead (CPQL)
Formula: A / L = (CPQL)
- Cost per Visitor or Response = Amount Spent for Event/Campaign (A) / Number of visitors or response (R) = Cost per Visitor or Response (CPR)
Formula: A / R = CPR
No matter the businesses intent, they utilize the power of the promotional product to aid them in keeping repeat business as well as gaining new clientele. With custom branded products, you can maximize your brands recognition. The possibilities are endless, they can open new doors and can make strong impressions through trade shows, conferences and many other programs and events.
The statistics will show your that promotional products are better than offering discounts. Researchers at Georgia Southern University found that companies that sent invitations with a promotional item prior to an event drew larger crowds than the ones that had sent only invitations or invitations with a coupon. From there, it was found that 76% of trade show attendees retained a favorable impression of a company that had provided them with a promotional product.
Info graphic from Xibit Solutions
With MyShopAngel Promotional Products as your one stop shop for all of your promotional needs, you can rely on us to get you the products you need when you need them. Are great staff will help you infuse your program or event and deliver ideas that will put your business exactly where you want it to be.
Order now at www.MyShopAngel.com