Gifts V Incentives
To recognise what an effective gift strategy is, it helps to understand what it isn't. Start by making the distinction between corporate gift giving and incentive award programs. Though gifts and incentive awards often involve similar types of recipients, they are different on both strategic and practical levels. Incentives are awards for achieving defined levels of activity, such as sales quotas, safety improvements, or good attendance.
In contrast, gifts are more or less spontaneous, given not as part of any defined exchange between giver and recipient. The gift recipient doesn't consciously set goals in anticipation of a reward, whereas the incentive recipient does. It's tempting to view gift and incentive programs in the same light. After all, you want to know that you're getting your money's worth from any business investment, and most givers want to motivate the recipient in one way or another.
But be careful. Leaving customers or employees with the impression that they're being bribed can do more harm than good. Instead, look at gift giving as a subtle, long-term process of relationship-building, following the basic guidelines described in this article.
Marketing Tips for Promotional Merchandise Market:• Promotion informs customers about the product and tries to encourage them to buy and some methods of promotional marketing include advertising, public relations, price reductions, free gifts, coupons, loyalty rewards and point-of-sale material, freebies and imprinted promotional merchandise.
• Buying promotional items in bulk is a cheaper option and allows you to concentrate on more expensive part of your promotion.
• When marketing your products you need to create a successful mix of the right product sold at the right price and right place, but most important, using the most suitable promotion and the way to do it is to budget for price promotion or free items.
• Use of promotional products in corporate marketing will help retain and grow your business.
• Want to please your bosses or merging with another company-corporate gifts is a must.
• National promotions are usually planned around new car launches and receive a huge interest from public eye; therefore unique products are always in demand.
• Personalized corporate gifts can include a company logo, name, address or an image and can be supplied in various colours.
• Do you want to keep your customers happy? Free giveaway thrown in with their Sunday paper of weekly grocery shopping is a top idea.
• Whether you fancy cups or mugs, using them as promotional giveaways is always a good and effective way to promote anything from medicines, sweets to cars and large, company giants.
• If you are new and still growing, product giveaways are a cheap option for the marketing of new products or services you offer.