As seen in an earlier post, some companies are concerned about the actual return on investment associated with building brand with promotional products. Can a company actually calculate ROI on promotional products or is it too difficult to track the response to a promotional product after it is given away?
Taking the Science out of calculating Promotional ROI
There are certainly unscientific ways to calculate ROI such as reading the recipient’s immediate reaction to the product when it is given or, eyeballing the traffic to your booth because the tradeshow audience has seen or heard about the tradeshow giveaway. At a tradeshow in 2008, Big Frey was giving away text message cards at the booth. We had people coming to the booth this year asking for the text message card again! It was that popular and attracted a lot of attention at the conference where we were exhibiting. This promotion clearly achieved the goals of attracting traffic to the booth and customer retention.
Putting the Science INTO calculating ROI for promotional products
We found that the best promotional product an organization can use to truly track marketing ROI is through the branded download cards. To redeem the gift promoted on the card, the recipient must go to the website listed on the back of the card and follow the instructions to redeem the gift. Almost immediately, the number of visitors to that site is calculated and sent to the gift giver. The organization can then analyze this data to help calculate the user rate and, hence, the return on investment for the campaign.
Giving two gifts in one
The download cards are very dynamic. There is a choice in card stock and a laundry list of gifts. And, as companies try to look for eco-friendly ways to promote their brand, the download cards can be printed on seeded paper. After the gift is redeemed, the recipient follows the directions on the card, is instructed on how to plant the card and nourish it until the seedlings are well established! Watch for more blogs on seeding the future!