Developing a great promotional idea that is relevant to your audience isn’t that hard. It simply takes asking a few questions and as well as understanding of what you really want to accomplish. When you understand the difference between a giveaway and a promotion, it makes it easier to determine your goals. Many clients want to know the most popular trending promotional item, but that item may not be appropriate to help them achieve their goals.

All too often, business owners give away some low end promotional item thinking it will create goodwill and effectively promote their business. If the item is irrelevant to their business or the prospect’s need, the recipient takes the item and (1) puts it in a drawer, (2) gives it to the kids, (3) throws it away, or (4) perhaps uses the item with no real intention of doing business with the advertiser.

A giveaway can be a one-way street. It is also difficult to measure your return on investment. You gain practically nothing meaningful—certainly nothing you can follow up on. And, as far as building more business? Few will say, “Wow! They gave me a cheap giveaway with their name on it! I’ve really got to do business with them.” You may even create ill will if what your prospect received breaks or serves no purpose.

A promotion, on the other hand, is a two-way street. You determine what you want your target to do, then you figure out a way to get them to do it. Trade shows provide a good example of how to use a promotional item as a giveaway versus a promotion.

Most companies at a trade show give away something inexpensive to everyone who stops or walks by. But as a business owner/marketer, you don’t care about everyone—at least you shouldn’t. You should care only about those who are interested in your product or service and are qualified as a lead. Being a smart promotional marketer, you should obtain their business contact information and an idea of their interest level or purchasing time frame. This is how you qualify your prospects and obtain meaningful information. If you’re not giving something to everybody, you can afford to offer promotional products that cost a bit more and will give your prospect a reason to remember you.

For instance, a financial planner who gives pens to everyone who walks by would do better to offer an imprinted booklet about managing finances only to those who fill out a short questionnaire. Sure, the booklet costs more than the pens. But, the financial planner obtains information on which he or she can effectively follow up. The added bonus is the fact that the return on investment is measurable and the prospect has a meaningful item that is relevant to their interest.

Inexpensive giveaways have their place when donating to goody bags or as prizes for contests or token thank-you gifts. However, when your goal is to promote your business, secure qualified leads or increase traffic—an effective promotion beats a cheap giveaway.

Contact Business by Promotion for a meaningful promotion 816-350-8811 or Sales@BusinessBP.com