Marketing experts say many businesses would record tremendous growth if organizations ditch the tendency to restrict their promotional sales to their primary or core market. There is ample evidence to suggest that event managers can maximize the impact of their company’s road shows or product promotions by venturing out of the traditional market and spreading into the so-called alien markets.
New grounds are always available to be broken and for that reason, breaking into new demographics must be one of the core objectives of event managers during product promotions.
One proven way of achieving these is through the use of free or subsidized promotional merchandise to attract and retain new clients. This article seeks to shed light on how companies and event managers can best maximize the impact of product promotions for improved sales and revenue.
Ensure You Give out Many Free Giveaways
Few people would pass upon the chance for a good bargain and even fewer would pass up on completely free stuff.
Handing out free stuff is a time-tested method of getting the attention of customers or potential clients at promotional events. The strategy works in all situations but this article goes several steps further by showing how companies can turn that attention and into improved sales figures.
Spreading a statement with the free giveaway
Companies and organizations don’t always have to spend a ton of money to make a powerful statement about their corporate philosophy. One effective way they can do this is through the use of branded merchandise and other promotional products.
The choice of branded merchandise can tell a lot about a company’s values, its mission and vision statement. For example, a company that values sustainable, eco-friendly development can share its ideals with its potential customers by deliberately giving out branded merchandise like tote bags or water bottles made entirely of recycled materials.
Deciding on Promotional Events
Before sponsoring or investing in any promotional event, companies must take the time to properly evaluate its potential cost and benefits. In all cases, it is important for the promotion to break grounds and attract new clientele. For example, a company that manufactures and markets cosmetics products to a mostly female demographic group can look into packaging its products to attract growing number style-conscious young, urban men who are particular about their looks and personal hygiene.
It is important for the company to clearly define or identify the kind of clientele it plans to attract with the promotional event. A profile of the potential client can be developed to reveal their income bracket, interests, lifestyle, aspirations and even the places where they are most likely to hang out.
Promotional events can leverage this information to decide on the best places to meet and engage with potential customers. Sometimes a relaxed and informal occasion like a sporting event or a car show is some of the best places to introduce a new line of products to potential customers.
Selecting Promotional Products with the most value
Companies must put some thought into the process of deciding what kind of merchandise would be handed out during promotional events. Marketing experts say the particular type of free merchandise handed out, is even more important than the act of giving itself.
Items like pens, notepads and baseball caps have become standard fare at promotional events, but it would serve companies well if event managers buck the trend and learn to think out of the box and offer handy and creative merchandise like the increasingly popular fidget spinners, USB sticks, soda can-shaped CD storage cases, Rubik cubes, tabletop speakers and key rings.
The effective use of branded merchandise at promotional events can win over new clients, who then go on to become loyal, life-long customers, who may, in turn, bring in new referrals.