Last year the promotional products industry grew to 17 billion dollars in annual sales. It has grown by double digits for the past 14 years. During the same time it has been the fastest growing advertising medium of all.
Even in 2001, which saw huge decreases in every advertising sector, the promotional products industry grew by 3% (Source; Advertising Specialty Institute). Why in the midst of a recession, huge stock market losses, record bankruptcies taking their toll in nearly every industry and all advertising medias showing record losses, has promotional products gone nearly unaffected?
Smart companies have realized that it's targeted, rifle approach can be even more effective in tough economic times tan ever before.
Instead of gambling valuable advertising and marketing dollars on shotgun approach, broad-based campaigns, these smart companies realized they could not afford to stop doing the right things to make their business successful.
They can drastically reduce their marketing expenses while still thanking, motivating and rewarding their most important partners (customers, employees and prospects) with real, tangible advertising that not only creates awareness about you and your message but delivers value, says thank you and stays around to do it over and over again!
Let's take a closer look at what is important to our business:
- Keep Current Customers Happy and Loyal (Solidify existing revenue stream)
- Develop new business from these existing customers (More revenue from same customer base)
- Get more customers (more revenue from new people)
- Get employees to do more with less (cuts in payroll and personnel create new issues like higher turn-over, drop in morale, attitude problems, etc.)
Saying "Thank You" is still one of the most important things we can do to show appreciation. We were taught it from birth yet, still take for granted those who make us successful. Don't just say Thank You -
How about a program where you consistently show appreciation to your existing clients for their first order, reorders, anniversaries, end of year/holidays of doing business with you or just a THANK YOU at any time and for no specific reason other than to say THANK YOU for their continued patronage?
What are you doing now to keep the hungry competitor wolves away from your client's doors?
Do you think promotional products are too expensive? Can't afford it?
Don't EVEN go there.
First of all, since your customers are the entire reason you are in business, you can't afford NOT TO SAY THANK YOU. Not to mention the thank you does not have to be expensive. Action Advertising has Thank You gifts starting at under $1.00 each. We all know that even a note or card can be a very appreciated sentiment.
But how about if you combine that with a small token of your appreciation that is not only a useful keepsake for your customer but also carries your name to constantly remind them of who gave them this gift.
The bottom line is this: Even though the economy may struggle for some time and many business are constraining their advertising budgets, promotional products continue to be a cost-effective way for you to keep your business message in front of clients and prospects. Call us today and we'll be happy to sit down and discuss products and solutions that will serve the best needs of YOUR business.