How Do Price Changes Affect Consumer Perceptions?
By Kara FinnertyJun 1
Published June 24th 2014
Promotional products have been a popular choice for building brand recognition during marketing campaigns for many years.
Now that advertising on the internet provides such great detail on tracking the results of advertising, it is important to show that promotional products and branded gifts have a positive effect on your brand and sales.
The British Promotional Merchandise Association (BPMA) has conducted several surveys and done research that provides evidence that there is a direct correlation between promotional product advertising and an improvement in brand recognition and increase in sales.
In addition to brand awareness and better sales, this form of advertising yields a better return on investment.
Here are some of the key findings from a 2012 study conducted by the BPMA. The research included surveying close to 15,000 people who had received a promotional product for free within the previous year.
The most popular promotional products in terms of favorites listed by those who were surveyed were USB drives, pens, an electrical item, or a mug.
When it comes to how long a promotional product is kept, mugs were reported to be kept longer than any other promotional item.
When it comes to longevity, a good portion of them – 87% – said they kept a promotional item for longer than a year and 30%, keep promotional products up to 4 years.
Of course, the longer a promotional product is kept, the more impressions it makes on the recipient and anyone else that sees the recipient using said promotional product.
The impact of these products on recipients is great. They can recall the specific type of product received and also remember the brand name or name of the company for a long period of time after receiving it.
In fact, over 94% of those who participated in the research study said that they do not forget the advertiser or the product advertised.
One of the more staggering statistics on branded promotional products uncovered is on how they can change buyer habits. Many consumers are willing to switch their brand in order to receive a free promotional gift.
This means that advertising “free gift with purchase” can be a promotional or branded item. Consumers are much more likely to keep free branded items than they were several years ago.
When asked about re-gifting promotional products, some even said they would give away a promotional product they received to someone else as a gift. One of the main reasons that consumers keep promotional gifts is because they find them useful.
The best combination for an effective promotional product is for it to both be useful to the recipient and relative to your brand for better recollection in the future.
The main use for promotional products is to increase brand recognition.
However, marketing and advertising executives also report that they often use branded merchandise in product giveaways, combining it with a call to action.
In whatever way you decide to use promotional products in your advertising campaign, they will certainly likely to help you build brand awareness and increase sales for your company.
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