Measure the success of Promotional GiveawaysIt's important you know if you're generating a return on your giveaway promotions to know if you're spending your marketing dollars wisely. So how do we measure the return on our investment (ROI) when we do a promo giveaway?
Whatever you can measure you can improve
Peter Drucker is credited with two of the most important quotes in business management. Here's the first: “If you can't measure it, you can't improve it.”
It's important you know if you're generating a return on your giveaway promotions to know if you're spending your marketing dollars wisely.
So how do we measure the return on our investment (ROI) when we do a promo giveaway?
There are many ways of determining whether you should persist or pivot on your campaigns. Here are a few things you may want to consider before making a decision on your next giveaway:
Step 1: Determine what outcome you’re expecting from your giveaway promotions?
start with the end in mind.
What goal do you have for your promotion?
Clarify what return you are expecting, this will enable you to calculate the ROI on your campaign accurately.
The entire premise of distributing promotional gifts is to get the attention of your audience – will your giveaway items provide this?
Step 2: What can you afford to invest in your giveaway promotions?
Working with a tight budget, be a bit creative to reduce the costs.
Save costs on mockups, many promotional giveaway companies have in house designers who can create free virtual mockups with your specified details at no cost.
Consult with other departments, and/or branches within your organisation to check if /what ordered promotional gifts they have previously ordered. This will not only minimize the chance of duplication but enable you to save money. Set up fees can be avoided if the same logo has been previously used.
Step 3: The reason for giving away this promotional product?
Promotional gifts are carefully selected and consistent themes should be used regularly as a constant reminder of your organisation to your audiences.
Important factors that should be considered when purchasing promotional gifts – Who will be receiving them & how will you get your audience`s attention.
Step 4: What type of image does your company portray to your clients and prospective clients?
You must be clear about whom you are trying to reach through your marketing effort.
Develop a plan and themed approach which includes general and target audiences.
Once the audience is identified we suggest you choose a promotional product which fits well with this group.
Step 5: What product will you deliver which encumbers the true value of your company and the event?
If your promotional efforts are associated with a special event or department, pick items that will be useful to that audience.
Make sure that you do not send the wrong message, give out gifts that are aligned with the core values, purpose and mission of the event and your company
Promotional gift items are a great way to reward your staff’s achievements and recognise their hard work. For clients, they help build a stronger relationship and keep your company in their field of vision that can lead to more significant business opportunities. Invest your promotional budget in gift items to gain the appreciation and trust of your staff and clients for considerable benefits in the future.