In these tempestuous times, companies all over the world are now struggling to find a successful way to make their customers keep buying their products or paying for their services. Staying in business is wrapped with great uncertainties. More importantly, for quite some time clients have been more focused on the experience that you can provide for them, the emotions that they are going to feel, especially under lockdown, rather than on the goods that you are selling. Not being able to adapt to recent changes fast enough had forced a lot of managers to downsize their teams or even close their firms.
However, knowing how the promotional market has changed and how people perceive corporate gifts can give companies a sense of security. Moreover, being able to research the behavioral changes of their clients, respond to their fears and desires adequately can revive their business. That is because they will understand what kind of experiences – and what kind of promotional gifts linked to those experiences – the clients would find appealing.
Fun Merchandise Facts
According to Promotional Product Association International (PPAI), 8 out of 10 people love receiving promotional gifts and own between 1 and 10 merchandise products. 45% of consumers use a corporate giveaway at least once per day while 73% will use a promotional item at least once per week. 91% of consumers have at least one promotional product in their kitchen, 74% have at least one in their workspace, 55% have at least one in their bedroom. 63% of consumers pass along the promotional products they no longer wish to keep. Nevertheless, only 20% of consumers are willing to repeat purchase after receiving a promotional giveaway. So how can you keep more people’s attention?
Trend 1: Make A Difference
People are much more likely to support businesses that give back to society. If part of your profit goes to solving a social problem – whether it is in a small community issue or it helps tackle a global problem, people will back the cause. It will help them feel fulfilled because they spared some of their resources to be part of the solutions rather than the problem. This also builds their trust in your brand. Try introducing T-shirts and bags related to the cause to gain even more money. You might actually inspire people to be proactive and tackle other unsolved issues they have some personal perspective on. And this is how their experiences are linked to your products and services.
Trend 2: Introduce an Innovative Prototype
Startups who don’t have the financial resources for mass production of a product, prefer to make a prototype first. Then they initiate a crowdfunding campaign to raise money. However, this could be a great way for struggling companies to revive customers’ loyalty. If you don’t want to invest too much money under the circumstances, you can test the water by introducing an exciting and innovative product. If people like it, they will easily invest in your idea in return for getting the product when you raise enough money to multiply the prototype. Others might prefer to support your campaign in return for getting some simple perks – like a T-shirt, some promotional socks, branded bags, etc.
Trend 3: Revolutionize The Market
It is a well-known fact that it takes 20 years to build a reputation and only 5 minutes to ruin it. Staying on top of your game means to always present products and services that are even better than before. Explore different ways to reinvent the sector which can take you way further than your competitors – find new materials for your products, search for last-generation machines, invest in training your staff. Make sure you take calculated risks and put your efforts into what you are truly good at instead of trying to start something entirely alien to you.
At Kingly, we have always believed in giving back to society, constantly pushing the envelope with new products, and taking steps into revolutionizing the promotional market. Become a part of our community of supporters by joining our group Kingly donates to those in need. Explore our full range of game-changing upcycled knitwear and take a step towards sustainability. Your clients will be thankful.
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