Austerity is the buzz word among MPs at the moment as they grapple with the budget deficit. In actual terms that means companies don't have a whole lot of money to spend and that for the immediate future, times will be challenging.
In a world where outgoings will be scrutinised like never before companies have to be a bit smarter when it involves advertising themselves. This involves getting the most for your money. Gone are the days when companies could undertake a scattergun strategy to marketing, flooding all of their clients with elaborate branded products and rinsing the marketing budget in doing so. The contemporary marketer needs to be smart and target their campaigns to relevant audiences more than ever before. By doing this they will be delivering the most appropriate marketing to the most appropriate people.
So what does this mean in real terms? With the holiday season just around the corner and attention turning in the direction of Christmas business gifts, the opportunity for using these as a marketing tool are clear. It is commonplace for companies to recognise their clients with Festive corporate gifts each year and they deliver successful marketing opportunities, placing a practical branded item into the hands of your clients. But where does the strategy of gifting your customers at Christmas fit in with this new era of austerity?
Back in the good old times, businesses would spray out Festive business gifts to everybody on their database which would result in a great deal of publicity, but was this approach ever beneficial?
When it comes to Festive corporate gifts, targeting and personalisation is the key. Rewarding your leading customers with a high quality item will make more of an influence than handing out promotional plastic pens to 100 less prominent customers. By offering your finest customers a premium business gift you're showing your appreciation for their custom instead of blatantly advertising your brand and this will likely create a more substantial, lasting impression with the customer. Find out who your top 10% of customers are and perform some research to find out what is going to truly leave an impact with them.
Target your top 10% in this way and you can then consider what your strategy will be for the remaining 90%. It may well be a classic corporate gift or something a bit more promotional, what is most significant is that your finest customers feel valued. Remember, these may not be precisely the same individuals every year so you should not be concerned about leaving people out that are on the cusp. You may even want to stagger the standard of your gifts and introduce another category, but what matters is that you're targeting the recipients by utilising specific considerations. This way you can establish your main clients and ensure they're getting your individual attention.
We might well have to consider more carefully about how we are spending the budget in this environment, but in some ways it might well benefit the effectiveness of promotional methods. By introducing a more focused approach to your Festive business gifts this year you won't only lower your expenses, you may also discover that your Christmas marketing strategy could well be more effective.
In a world where expenditure will be scrutinised like never before companies have to be a little cleverer when it comes to promoting themselves. The contemporary marketer needs to be intelligent and focus their promotions to relevant audiences more than ever before.
Alan composes posts on issues concerning the promotional flash drives industry on behalf of Business Gifts Co.
David writes articles on issues surrounding the promotional gifts industry for The Promotional Gifts Company.
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