It’s mind-boggling how many companies, big and small, throw money away by purchasing and giving away promotional products. Now mind you, if you come to us and want to buy 5,000 cheap pens and give them to everyone who walks by, we’ll take your money. But we’d much rather work with you on a promotional campaign that will actually help you to grow your business.
Let’s begin with the term giveaway. If you treat promotional products as a giveaway, what you are giving away is actually your money. A giveaway is a one-way street. A promotion is a two-way street. You are exchanging something of value for something else of value. The important thing to realize is that each party gets to define “value”. It doesn't have to be equal value, it just has to be meaningful value.
Consider a trade show example, since January seems to be the beginning of trade show season. A financial planner is interested in finding people who can use his services—and are able to pay for them. A useful gift such as a customized booklet with tips on money management can be offered to people who fill out a brief (really brief!) questionaire. When the show is over, the financial planner will have a select list of people who are likely to be legitimate prospects. The gift may have been more expensive, but the quantity was limited. Rather than a giveaway, the product served as an incentive.
Sticking with trade shows for a moment, consider the value of a pre-show attendee list. A mailing sent in advance to those planning to attend can do a lot to increase your booth visits, especially if done in conjunction with a promotional gift. The gift can be teased or directly mentioned in the mailing, but there should also be a specific reason relating to your product or service. A well-thought-out promotion should consider all of these factors:
“It’s tough to make predictions, especially about the future.”
~ Yogi Berra
