Strengthening Your Brand With the Right Promotional Rewards
By Bhawna Vikram Kumar
Today, it is easy to start a business but it is a completely different scenario to keep it going with all the fierce competition around. So, to remain in the race and to survive, it is crucial that innovative ways should be coined out to market your business and capture the market share.
Using promotional products to increase brand awareness is an indisputable and well-known marketing strategy; though doubts have been raised about the capability of positively increasing sales through these strategies. Having a well planned strategy can make a marked difference and be highly quantifiable. While it is always a good idea to give a gift, this should justify the expenditure - the most favored would definitely be an increase in the sales of your product or service. There are different ways to address this.
As A Cumulative Loyalty Reward: So as to attract both business and customer loyalty, promotional freebies can be given on a categorized manner. This will be an ongoing process with perpetual benefits - consumers are always fond of accumulating points especially when they know that there are attractive rewards to be gained and this will, as a result have a tremendous impact on sales across industries.
As An Exclusive Reward for Patronage: As a marketing technique to gain customers or to attract fresh business, quality promotional products as gifts are ideal sales incentives. Choosing items that are unique or "in trend" is sure to be highly popular and is sure to work well as promotions that are time limited.
As An Impetus for Contact: Attractive promotional freebies can be offered to entice visitors to a stall at an exhibition or trade fair, thereby capturing a substantial number of would-be customers. In the same way, a promotional gift may be offered as exchange for a quotation or a "like" for a new service/product on Facebook.
As A Branded Product for Resale: By endorsing your product to different promotional items that are displayed for sale, a company can attract consumers to fancy their products and at the same time, create an ongoing phase of demand and supply. When branded items are displayed for sale, there is an illusion of a class brand that is worth spending on. Many prestigious companies sell their branded items so that a positive brand image is created.
In addition to what has been mentioned above, image and impression are crucial when it comes to creating brand identity, which can go a long way to help in increasing sales. Though it is tough to measure direct sales that are done through branding campaigns, it is a well accepted fact that customers tend to purchase from a brand that is established and trusted. Promotional items can encourage in achieving this by supplying a physical reminder of a service or product, while offering a "freebie". For companies with a constrained marketing budget, this can well be a very cost-effective method to build their brand loyalty and thus increase the sales.
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