When choosing a promotional product for your company many variables should be taken into consideration:
- Target Audience- In any business capability a manager should know who their target audience is- this determines how you market your product, and ultimately your business. This is paramount in choosing your promotional products, as it would be pointless choosing iphone cases for a target audience of 60+, similarly using Parker pens for a target audience of 3-5 year olds wouldn't work.
- Market share- This dictates how much liquid assets your company has and therefore availability of resources. If you control a sizable share of the market, you have to become innovative in your promotional products and campaigns as all potential competitors will be looking at you.
- Competitors- By looking at how competitors are either marketing or utilizing promotional products you can see what kind of products work on your consumers. Watch the market leaders, and find out how they utilize promotional products and develop it for your own company,if you are a market leader then look at smaller companies- often they are better at innovation, so you could learn a lot from their campaigns!!
- Cost- The smaller your company the less disposable capital you may have, so inevitably your are not going to be able to run nationwide campaigns with thousands of promotional products, however often quality is better than quantity. For example if you were a small company and you brought your top 50 customers high end branded gifts such as metal business card holders or other office equipment, this would be more effective in maintaining these customers and possibly get new ones by word of mouth than buying 50,000 pens and giving them away at a convention somewhere.
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You should always take into account these issues before you start your marketing campaign as they are free and relatively easy considerations to take into to account before you risk a high investment!
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