If you are wondering how promotional products can help your business, this article will go some way to explain just how vital promotional products are within the marketing mix.
We Are Promotional Products has put together a series of images which summarises the BMPA’s talk from the B2B Marketing Expo in March. The B2B Marketing Expo is an annual exhibition which is dedicated to business to business marketing.
The Expo featured over 150 speakers, one of which was the BPMA’s Jon Birrell who gave a keynote presentation exploring where premiums have grown or changed brand perception, demonstrating how brands improved through merchandise and premiums.
Mr Birrell has spent over 17 years working within the promotional products industry and without further ado, here’s how promotional products can help your business.
What are premiums? You may be asking! ‘premiums’ are promotional products that are gifted or claimed when a product is purchased. The IMI ‘International Consumer Research’ found that consumers would prefer to receive a free gift with a purchase when compared to other methods of gifting premiums.
A study by the ASI (Advertising Specialty Institute) found that promotional items have a very low cost per interaction. For example; A promotional bag, will be viewed 3,300 times on average in its lifetime. If that bag costs £2.50 then the cost per interaction is therefore one tenth of a penny!
This section will hopefully give you some ideas on how to use premiums to increase sales and brand exposure.
In the Compare the Market study we show how the infamous ‘meerkat’ toy is claimed every 30 seconds, with 4m+ toys claimed and a 65% redemption rate. We’ve all seen one of these toys kicking about in someone’s car or home, not only are Compare the Market enticing customers to buy insurance but they are also ensuring continual exposure for its brand through the toys.
We also looked at how Coca Cola used the branded selfie stick to drive social engagement. Over 500,000 consumers entered the promotion which resulted in nearly 4,000 twitter mentions and almost 14 million twitter impressions.
This section details some key statistics from BPMA research on how the effects of promotional products effect brand awareness and increases buyer intent with that particular company.
- 96% – of recipients said that promotional merchandise increases brand awareness
- 79% – of recipients are more likely to do business with the company
- 83% – of recipients remember the brand for 12 months+