Best Practices to Maximize Premium and Incentive Return On Objective
Marketing and sales organizations regularly face the unenviable task of selecting the best corporate gifts and premiums in their attempt to convert prospects and retain valuable customers.
One of the most important things we’ve learned is that the specific product a company chooses to offer as part of a campaign can have a very long term impact in reinforcing its brand and building customer loyalty. Selection of premiums and incentives should be viewed with a strategic, long-term view, reinforcing the message a company wants to send to its target audience.
Based on almost two decades of helping clients plan and execute high-impact premium and promotional campaigns, I’d like to share a few simple tips that marketers and promotions’ managers should consider in choosing the right products to meet their key objectives.
Novel/ Innovative: Can one find a product that is very new and unique, which only a precious few (if any) have had a chance to lay their hands on? Not only does a novel product create a strong impression on the recipient, but it also could create high-impact buzz and even trigger an effective word-of-mouth campaign about the company.
Utility/ Usefulness: There’s nothing like combining desirability with utility, because the more useful a product is, the more indispensable it becomes. Each time the product is used, it is a constant reminder who the giver of that extremely useful gift is; now imagine one’s logo or promotional message on that product and the reinforcing effect it will have on the recipient.
Perception of value: The perception of value of a gift greatly plays itself in the subconscious of a recipient. Higher the perceived value of a product, greater the importance the recipient feels. We all know how crucial it is to make a customer feel important; imagine succeeding in doing that.
Durability: Find products that are durable and have a significantly longer lifespan; don’t miss out on the opportunity to be in front of the target customer for a much longer period. There is enormous value in the long-term “advertising” offered by a product than some of the more traditional means of advertising, which are often extremely time bound.
Taste/ Quality: A premium offered is much more than an incentive for a prospect to become a customer; it can be a very powerful statement about the company and its brand. Recipients form strong opinions of a company by the quality of the products it gives out as corporate gifts & premiums. If the premium reflects good taste, thought, and quality- so will the company be perceived. Think and plan long term; careful product consideration will avoid negative perceptions and will only reinforce the chosen image that today’s business environment requires that we so carefully craft.
About the Author
Mike Marsh is CEO of Impact Promotions Group, a Florida-based company helping businesses and non profits with their premium, incentive, and promotional campaigns. Their flagship website; NameBrandIncentives.com ( www.namebrandincentives.com ) is the leading source for brand name premiums, incentive, and promotional products.
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