How Businesses Can Leverage Promotional Products for New Market Opportunities

How Businesses Can Leverage Promotional Products for New Market Opportunities

  14 Jun 2021

We know as shoppers that the release of promotional products can be a big enticement.

If the brand is distributing items as part of a discount, for a seasonal sale window, to draw in consumer information or for any other purpose, this can be the offer that delivers residual dividends for the business.

The key for outlets is not to undertake this campaign in an ad hoc nature where undesirable collections are pushed out the door, but to use this strategy as an opportunity for the benefit of the company.

We will look at the approaches that have worked before to assist those owners and managers who want to make a splash in the market.

Use Products Customers Actually Buy

It might sound like an obvious point from the outset, but businesses need to think about what kind of promotional products will actually generate cut through. Pens, hats, shirts, mugs and other accessories might be cheap to produce and simple stock to move on, but will it entice users to engage with the provider in a meaningful way? By providing goods that are of interest and sell well, there is far more incentive to get involved from the user’s standpoint.  

Target The Right Market Segments & Demographics

Enterprises that actually think about who they are targeting and for what purpose always stand a better chance of leveraging their promotional products. Perhaps there is a way to encourage current customers to buy new products or higher quantities of the same stock? Maybe it is interested shoppers who could be convinced to make the investment with the aid of a prize draw or a two-for-one offer? Outlets need to plan strategically and think about who they are targeting and for what purpose to make the project worthwhile.

Multimedia Synchronisation 

In 2021, there is no excuse not to leverage promotional products across a wide array of media sites and formats. Why stick with a poster, a newspaper spot, or a single Facebook or Instagram post? Social media channels can be targeted across all hubs while email marketing ventures help to maximise the potential of a thriving contact list for a business. The aim of the game is to deliver a consistent message and theme for the promotion that keeps in line with the brand image.

Track Engagements & Progress in Real Time

If companies are looking to make an impact with promotional products, they need to lay out a timeline for the project. Perhaps it is a day, a week or a month. Across this time, representatives should be tracking engagement levels and gauging where the traction happens to be, seeing which messages are achieving recognition and what is falling flat. Modern software analytical programs will deliver this data in real time before an official report is developed.

Plan for Experimentation

Businesses that tap into these ventures for promotional products should be prepared for some inconsistent results, especially from the outset. Once brands put these types of campaigns into motion, they have to recognise that consumers won’t be accustomed to these kinds of offers from that brand before. It might require a complete revamp and rethink from management if the reception is less than ideal. The best approach that outlets can take is to plan for experimentation before gauging what worked and what fell short, giving them a foundation to build on.

Examine Business Case Studies

For those outlets who are new to the concept of promotional products, they should take note of the successes and failures of their peers before investing their own time and money in these ventures. Particularly if they are based in the same industry with similar target demographics, it will be good to see which products were enticing and how that messaging worked. This is a fluid process at the best of times so a ‘copy and paste’ approach won’t work, but assessing previous case studies will be beneficial for the sake of context.