During an economic slump, it’s more important than ever for companies to invest in promotional items, such as logo USB drives, luxury pens and personalized mugs to get their name out there. This can help a business reach out to a larger audience and potentially find more clients for profit.
Depending on the financial status of a business, it might be difficult to put forth a large amount of money for advertising during sluggish economic conditions. However, using promotional products as a way to heighten brand recognition is a cost-effective marketing tactic compared to the cost of print, radio and television advertising.
One of the benefits to using promotional items, whether the economy is booming or not, is to gain a competitive advantage. When a company reaches out to a wider audience, it will gain more recognition and increase its chances of finding clients by putting a tangible marketing message into many hands.
“Advertising in a down economy is even more important than advertising during the good times,” Joyce Gioia, president of the Herman Group, told SignIndustry.com. “That’s when you can build market share. That’s when you have less competition for share of mind.”
As the economy begins to improve, companies that have invested in this type of marketing will begin to reap the rewards as potential customers will remember them and their message when they have more dollars to spend.