Because we’re in the business of helping companies improve business, we are especially skilled in structuring effective employee programs that improve engagement, increase sales and achieve other metrics and improve business in general. (There are many reasons why improving employee engagement is beneficial.) This recent article suggests that some company leaders may be unclear about the difference between corporate gifting and properly structured employee incentive, recognition and reward programs.
Gift cards have been gaining in popularity, for personal use but also for use in employee reward and recognition programs. Studies continue to show that tangible merchandise is a far better motivator, that delivers greater long-term results. Why then do some companies choose gift cards to reward their employees or customers?
What is important to those purchasing promotional products this year? Here are the priorities that are trending in promotional products in 2020:
ASI (Advertising Speciality Institute) recently put out this article showing promotional product sales growth as 3.4% in the first quarter.
The Incentive Research Foundation has released their 2019 Industry Outlook on Merchandise, Gift Cards and Event Giving, revealing the following:
When sales and marketing leaders are looking to boost sales, discounts and buy-one-get-one-free (BOGO) offers often come to mind. While these may be effective some of the time, they are expensive and cut into profit margins. A gift-with-purchase program is affordable and can boost your sales.
Though standard ballpoint pens, coffee mugs, key chains and tee shirts will always stay in the mix, there is a growing desire for corporate gifts, give-aways and “leave-behinds” to make a statement and lasting impression on recipients.
Corporations and their marketing departments are expressing a bigger interest in products that “fit” the brand and demonstrate creativity and marketing expertise even though product is more expensive. Many ASI suppliers have added brand names to their product lines to enhance their offerings and attract these higher end shoppers. The rule of thumb in most every product search is “high perceived value” at the best possible price.
“Promotional” grade items are less popular and even unacceptable to some. There is a growing appeal for the association of corporate brand recognition with brand name gifts. Useful, high quality items that will last and be utilized over and over, therefore extending the exposure of the company logo, are sought after more often than not. The old adage, “you have to spend money to make money”, is taking on new meaning. Instead of making purchases to get as many as you can for the dollar, more money is being spent per item on lower quantities in order to make a better impression on sought after prospective customers.
But, whether it is a need for 5,000 BIC® pens, 500 Tervis Tumblers® or 50 High Sierra® backpacks, you can depend on All Star Incentive Marketing to find those top quality items for the best price.