Talk a little bit about the promotion industry. How big is it nationwide?
The advertising specialty industry has come a long way since George Washington’s commemorative election buttons were made in 1789. In fact, he is the first-known user of promotional items. It is a $20 billion industry and growing every year. Did you know that 84 percent of people that see a company name or message on a promotional item remember it, while 62 percent have done business with the advertiser after receiving the item? In my opinion, businesses can’t afford not to participate.
Frankly, the word “promotion” brings to mind cheap plastic pens, golf tees and jar openers. Where is the promotion industry nowadays and are plastic pens, golf tees, and jar openers still used as promotional items?
The industry has come a long way from pens and golf tees, although these still remain popular and prove to be effective. The items can range from Nike golf apparel to Waterford Crystal to Movado watches, as well as high-tech computer accessories, leather goods, environmentally friendly products and custom food gifts. The promotional industry has come a long way in achieving the marketing goals of businesses and organizations today.
Why is promotion the first thing companies cut and why is that a bad idea in this economy?
Companies are making the move away from marketing spending in order to salvage budgets to support other areas of the company. This is a mistake.
In our current economy, it is even more critical to market than ever before. Those who stay visible will weather the storm and remain on top.
At The Perfect Promotion, we increased our marketing budget in the fourth quarter of 2008 and into 2009. We felt that if someone was in need of our services, we wanted to be top of mind. But we also wanted the business community to know that we were alive and doing well.
Gutsy marketers are identifying the most economical marketing manner possible, while still achieving their goals.
On average, the cost per impression for promotional items and imprinted apparel is only $0.004. There are so many productive ways to maximize your marketing dollars by using imprinted apparel and promotional products both internally and externally.
To purposely take that out of the mix is a strategic error. I can’t stress it enough … now is not the time to stop marketing!
What are mistakes companies make when ordering promotional items?
The two biggest mistakes I see people make are: 1.) not being true to the integrity of their brand; and 2.) just ordering ‘stuff’ without having a plan.
What’s the hot new promotional item in 2009?
With the fact that new products are being developed all the time, it is hard to pinpoint one hot item. There has been a lot of interest in ‘green’ items such as water-powered electronics and apparel made from bamboo. Overall, T-shirts and bags are walking billboards and are a staple in most marketing plans. But again, it’s not only about the item, it is about how it is used.
