As a business, you may have already heard about the benefits of using promotional items as part as your marketing strategy. Whether this is to target a wider audience or simply raise brand awareness within your target demographic, items such as promotional pens, ceramic mugs and branded drawstring bags are a great way to get people talking about your business- everyone loves a freebie!
But how can you measure the effectiveness of these promotional gifts? Are they really bringing something more to your company? The best way to know is to measure the Return of Investment (ROI) on your promotional products.
So, how can you find out if your promotional gifts are adding value to your company?
Work Out the Incremental Operating Margin
The Incremental Operating Margin (IOM) is calculated to see whether a product is adding value to your company and whether the investment that you made in the product was well spent.
To work out this IOM figure, you will need to calculate the following:
From this you will be able to determine whether your investment in the promotional product paid off by increasing the value of the ROI, or whether your money and time may have been better invested somewhere else.
Measure the Call to Action Results
The majority of promotional items will include a call to action, which could be in the form of a website URL, email address to contact or social media page link.
The effectiveness of your promotional products can be measured by how many people respond to these calls to action once your promotion has begun. This is an effective way to see if you are targeting the right audience with the right items and figure out ways in which you can improve your exposure using promotional gifts.
Unique URL’s or Phone Numbers
Another great way to measure how well your promotional gifts are working is to create a unique url or phone number which will only appear on your promotional items.
This will make measuring your call to action responses quick and easy as you will be able to see who has responded to the items and who has used other means to find out about your company.
You could even take this a step further if you have a range of promotional items by adding a slightly different email address or phone number onto each item and measure which items provide the best call to action response within your target demographic.
There are many different ways to measure how successful your promotional gift campaign is, but there is no right or wrong way to go about it. Some businesses have their own ways to measure how successful their promotional items are which may not work for others.
Here at EMC Advertising Gifts, we have a wide range of promotional items to suit any business. If you would like to know more about how our gifts can help promote your company, contact our expert team today by calling 020 8492 2200 or 0800 170 7570.