Promotional gifts—what’s not to love about them? Who doesn’t love receiving free gifts, especially when they’re completely unexpected? Many consumers would agree that they love receiving free stuff from their favorite companies because it helps them to feel valued, appreciated, and engaged.
And according to an article published by Business 2 Community, customers actually get use out of their gift incentives the majority of the time, which is even better. Per the article, 90 percent of gift recipients use their promotional products once a week or more!
So, if you’re new to consumer incentives, it may be time to come up with promotional strategies that boost customer retention and acquisition rates in the 2017 year. Now that you know your gifts will be used, valued, and appreciated, you can feel great about rewarding your clients with products and promotions they will truly benefit from.
Why Offer Rewards and Incentives?
Throughout this article, we’ll discuss the top 5 benefits to offering your clients rewards and incentives in the 2017 year. For starters, rewards are a great way to showcase your products and services at a very low cost, especially compared to the amount of money spent on advertising and acquiring new customers!
Plus, effective promotional strategies help you to improve your company’s image and reach a larger amount of people. Now, let’s dive in!
Reason #1: Company Showcasing
According to Business 2 Community, promotional products help to show off your business. Not only do 90 percent of gift recipients use the products they receive from their favorite companies, but 10 percent share the product with a family member or friend, which is basically a silent way of referring you to another person. Additionally, 87 percent of customers reportedly keep promotional gifts for one year or longer.
Reason #2: Low Cost, High ROI
According to Social Annex, it costs your company 500 percent more to bring in new clients than it costs to retain your current customers. And per Business 2 Community, consumers are 20 percent more likely to purchase a product or service from a company who gives them a gift. Compared to the low level of effectiveness of print ads (4 percent), television commercials (1 percent) and online ads (6 percent), gift incentives are the best way to go.
Reason #3: Customer Usability
When compared to other promotional strategies, gift promotions are marketing techniques that consumers actually love and use. Business 2 Community says that 55 percent of survey respondents reportedly have at least one promotional item in their home, 74 percent have at least one item in their work area, and 91 percent have at least one promotional gift in their kitchen! This goes to show that promotional products really do get used.
Reason #4: Effective Marketing Strategy
Promotional gifts like gift cards and electronic rewards are fun and exciting rewards that consumers love. Plus, they can be tailored to meet the needs of your specific customers, which is a major bonus. Sure, other types of marketing strategies can be tailored to reach your target audience, but gift promotions are tangible items that clients can directly benefit from.
Reason #5: Reach More People
While business cards are still a great way to make clients aware of your products and services, it’s difficult to reach a large amount of people using business cards alone. Unless you meet with them personally, chances are you won’t get a chance to leave them with your card. However, running a promotion (especially when you post about the promotion on social media) gives you a better chance of reaching more people who you probably would’ve never been able to reach before social media existed.
Mpell Promotions Handles Gifts So You Don’t Have To
Understandably, many companies avoid offering promotional gifts because they don’t have the time to track, measure, and report their client behavior. However, that’s where Mpell Promotions comes in. We handle gift cards, gift promotions, reporting, and more—all so you don’t have to.
But even better than that? Your company only pays for the rewards that get redeemed! Mpell Promotions offers cost-effective solutions for generating the largest return on your investment today, tomorrow, and well into the future.
Contact us today to learn more about how we can help you!