If you go to any sort of job convention, meeting or campaign, you are likely to see some company representatives handing out pens, notebooks, and mugs etc. that have their company logo on them for free. These products are known as promotional products and they serve as a means of advertising for the company. You will find that promotional products are being used everywhere and by everyone, from small businesses to major conglomerates, sports teams, and even politicians as well.
Now, when a company is handing out hundreds to thousands in cash to hand out these promotional products for free, one cannot help but ask if these promotional product ROIs are worth it or not. The answer is not that simple, actually, it can be yes or no depending on your company and how you choose to give away your promotional products.
Measuring the cost or how effective your ROI on promotional products is not an easy job. In fact, it is a lot more difficult to measure it compared to the ROI you gain from other advertising outlets like the newspaper or TV advertisement. There is still a metric system known as the return of impressions that you can use. This system cannot measure the financial impact a giveaway or promotional product has had, but rather, it can measure how well the customers have responded to the promotional item.
So, in conclusion, a promotional product is given out by companies as a means of promoting their brand and attracting more consumers, and the company will then check the ROI of the promotional product or giveaway to see whether or not it was effective in attracting more customers. So, the next time you see someone brandishing a company pen, calendar or mug, you can now understand the context behind it.