When you are trying to increase your business…. If you can’t measure it, don’t spend it.
That’s always been our motto at Edventure Promotions and people are always asking me to share our philosophy about how we use promotional products. The way we do it is much different than any other shop out there. So, here we go.
It’s simple. If you can’t measure it, don’t spend it.
There are far too many companies who don’t think like this. You might be one of the companies that has often fallen victim to the mentality of, “Let’s buy some pens or coffee mugs and see if we get business from it.”
Well, let me tell you … that doesn’t work. Ever.
Even though you are hoping it will work, that’s when you are just throwing your money away. If you want to do that, you could write a check or make a donation to the Edventure Promotions Foundation.
We will gladly accept your donations! (I’m kidding).
Every time we meet with business owners or agencies to discuss their promotional product needs, the first thing we go over is their strategy, or in other words, ‘what they are looking to accomplish.’
Without a plan or a goal, you will be throwing your money away. There are a lot of different ways you can measure your results by using promotional products (we will get into more specifics in other posts), but the point here is to have a goal and strategy that can be measured.
Here is a surefire way to do that:
If you are going to a tradeshow, think of your “I hope they buy” promo items as Tradeshow Bait.
You know, the inexpensive items like plastic pens, as a giveaway to everyone, but in the process, attach a call-to-action giving them the option to sign up to win a luxury Montblanc pen.
How simple is it to track the amount of people who responded to your offering?
For example, 25% of those who took a promotional pen also signed up to win the Montblanc pen. Whala! You have a ROO (Return On Objective), a measurable response rate!
Those people that did respond to get your high-priced (or high-perceived value item), have given you permission to engage them in a dialogue!
While you might not make a sale to every respondent the first time, you can plug them into a nurturing campaign and ‘woo’ them over time. Nurture them as a potential customer with valuable information and special offerings.
The solution is simple. The possibilities are limitless.
Using promotional products as measurable tools of engagement is an Edventure specialty. So stop hoping and start measuring. You will be amazed at the results you get!
To find out more about to create campaigns that will make your bottom line rise to the top, check out the Tradeshow Bait section on our website and then give us a call. We’d love to support your growing business or organization!