Promotional Industry Misses the Boat
Promotional Industry Misses the Boat
Even after the tech meltdown of 2000-01, overall marketing budgets fell by less than the decrease in sales in the promotional industry. And then when marketing budgets started to recover, the promotional industry lagged behind. Why is that?
Well, frankly, the promotional industry missed the boat, that’s why. Companies think about promotional items last. After, say, they have designed a marketing program for the quarter or the year worth hundreds of thousands or even millions of dollars, somebody says: “Oh, yeah, don’t forget to order a few hundred pens, mugs and key chains for us too.”
Well, that isn’t the future for this industry and if it is, we should all be looking for new jobs. The promotional products industry has to move up the food chain and embrace marketing solutions.
Marketing solutions is all about intricating promotional products into the very fabric of the organization’s marketing plan. Why, so the industry can make more money? No, so the industry’s clients can be more effective in their marketing and they can make more money (an coincidentally, the promotions industry can too).
People love to receive FS (Free Stuff); they’ll go to ridiculous lengths to get stuff for free. When you reward a high-performing employee or a valued client with a cash bonus or cash back incentive, almost half of it can be eaten up by the taxman (in the case of the employee) or it is just spent in a few days anyway on something else. Give that same employee or client a company-branded DVD player and every time she turns it on, she is reminded of what a great employer or supplier she has… for years.
And the company’s brand on the DVD player is visual and permanent and can’t be zapped like people zap TV commercials or flip radio stations when a commercial message comes on. And unlike a newspaper ad, it keeps on working for years, not 20 minutes.
There go your Marketing Dollars
Marketing solutions means doing more Agency-style work, like making sure that the right promotional items are selected reflecting the demographics of the target group, like making sure that the delivery solution is in place (no one needs a warehouse full of undeliverable FS), like having some type of call-to-action so you can track and measure the efficacy of the campaign and its ROI (Return on Investment) too, like doing some follow up study and research so you can constantly improve what you do.
Warren Gencher, President of Brymarkpromostore.com, one of North Americas leading providers of TQA marketing solutions in the promotional products space. warren@brymark.com
Promotional Industry Misses the Boat - To learn more about this author, visit Warren Gencher's Website.
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Promotional Industry Misses the Boat
Even after the tech meltdown of 2000-01, overall marketing budgets fell by less than the decrease in sales in the promotional industry. And then when marketing budgets started to recover, the promotional industry lagged behind. Why is that?
Well, frankly, the promotional industry missed the boat, that’s why. Companies think about promotional items last. After, say, they have designed a marketing program for the quarter or the year worth hundreds of thousands or even millions of dollars, somebody says: “Oh, yeah, don’t forget to order a few hundred pens, mugs and key chains for us too.”
Well, that isn’t the future for this industry and if it is, we should all be looking for new jobs. The promotional products industry has to move up the food chain and embrace marketing solutions.
Marketing solutions is all about intricating promotional products into the very fabric of the organization’s marketing plan. Why, so the industry can make more money? No, so the industry’s clients can be more effective in their marketing and they can make more money (an coincidentally, the promotions industry can too).
People love to receive FS (Free Stuff); they’ll go to ridiculous lengths to get stuff for free. When you reward a high-performing employee or a valued client with a cash bonus or cash back incentive, almost half of it can be eaten up by the taxman (in the case of the employee) or it is just spent in a few days anyway on something else. Give that same employee or client a company-branded DVD player and every time she turns it on, she is reminded of what a great employer or supplier she has… for years.
And the company’s brand on the DVD player is visual and permanent and can’t be zapped like people zap TV commercials or flip radio stations when a commercial message comes on. And unlike a newspaper ad, it keeps on working for years, not 20 minutes.
There go your Marketing Dollars
Marketing solutions means doing more Agency-style work, like making sure that the right promotional items are selected reflecting the demographics of the target group, like making sure that the delivery solution is in place (no one needs a warehouse full of undeliverable FS), like having some type of call-to-action so you can track and measure the efficacy of the campaign and its ROI (Return on Investment) too, like doing some follow up study and research so you can constantly improve what you do.
Warren Gencher, President of Brymarkpromostore.com, one of North Americas leading providers of TQA marketing solutions in the promotional products space. warren@brymark.com
Promotional Industry Misses the Boat - To learn more about this author, visit Warren Gencher's Website.
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 Promotional Industry Misses the Boat
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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 Warren Gencher (Visit Warren's Website) President and owner of www.brymark.com www.brym arkpromostore.com www.corporat estyle.ca
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