In the current economic climate when we are being encouraged to eke out our budget, it’s tempting to opt for the lowest price in many given situations – even more so in the consumer zone where we are permanently on the lookout for a bargain. But for businesses selling products or services to other businesses, opting for the cheapest price can be a false economy. Do you really want your IT systems fixed by a person offering a rock bottom price but with no guarantees, no backup if they are ill or on holiday and with a CV that has an abundance of white space where their professional credentials and experience should be?
You have to bring this thinking to your promotional gifts too. There may be many compelling reasons why you want the cheapest umbrella, the cheapest pen and the lowest price possible on your giveaway T-shirts. But, before opting for the cheapest, priced product it pays to think about the audience you are hoping to attract with these gifts. When they open up your umbrella on a windy and rainy day and it’s transported inside out, breaking in the process, what impression will they have of you and your brand? The cheap pen you gave to your valued clients may do the job it was paid to do but every time they use it, with your name winking at them from the barrel, what will they be thinking about you albeit subconsciously? High-value provider or a bit of a cheapskate? It has been said that we are judged by the company that we keep so choosing to give valued prospects and even more valued clients cheap as chips promotional gifts could count against you. And yet moving up a notch or two with your budget can make an altogether different impression. The difference in price between for example a very cheap pen and a pen of decent quality can be just 10 pence per pen. For that small but incredibly important handful of clients that you want to entertain on your golf day, spending just £5 pounds extra on each golf umbrella virtually guarantees that when they are next on the golf course, yours will be the one that’s in their caddie. And if you are giving your loyal trade customers a T-shirt, make sure that it will last more than a few washes so that they are advertising your brand far more than you could even imagine! Talk to us if you would like to get real value from every penny of your promotional budget.