If you are in the business of selling your promotional products, you must find out the key industries, which may be your potential buyers. With little more marketing efforts, you can have them in your clientele list.
Almost every business uses promotional products to please its customers with the gifts. The giveaway items are powerful tools for generating some goodwill for a business and a company in the hearts of the consumers. Talented marketers offer the items that remain useful to the customers for a long time. This ensures that customers are engaged with the gift for many months and even years, which in turn keeps reminding the recipient of the company’s business. Each such gift has a company’s logo. This means that the giveaway item becomes a useful tool of advertisement of the firm.
For businesses, an offering of a promotional product is a proven marketing tactics to increase brand awareness and build a loyal customer base. Know that promotional products remain with the recipients for a longer time than advertisements for giving more exposure to a company and its goods or services. Businesses use the promotional merchandise for a consistent increase in recognition and recall value of a product and brand. The giveaway items are excellent sales incentives also.
But as a seller of promotional products, you would surely like to know about the key industries buying the products in bulk more often. If you can pinpoint these leaders, you can then contact them with your selling proposals.
Louisiana State University and Glenrich Business Studies conducted a survey of distributors to find out the top industries that consistently buy promotional products. According to the survey, here are the top industries that place large orders for promotional products.
Top global buyers
According to the ibisworld.com, the promotional product is a $21 billion industry, and it is growing by 2.4% annually. Global companies are spending millions of dollars on buying the giveaway merchandise. In 2016, companies such as PepsiCo, Pfizer, Penney’s and Philip Morris each spent more than $ 39.8 million on promotional products. The top 10 global giants spent $548 million on the merchandise.
It would be interesting to know about the type of companies spending a huge budget on the giveaways. Of the top 25 companies, seven are from consumer-goods industry and six from the communication industry. The remaining companies comprise of automotive, high-tech and pharmaceutical industries.
Another interesting thing to mention is that the businesses that spend heavily on unmeasured media such as promotional products, direct mail, couponing, special events, catalogs and promotions, about 25 of the top 100 such companies allocated a larger share of ad spend on the promotional products. As far as the companies spending more on traditional media, their percentage of spending on promotional products was a bit smaller.
Studies have revealed that the firms spending more on the unmeasured media are mostly from high-tech, hospitality and pharmaceutical industries. On the other hand, consumer goods and auto manufacturer companies spent heavily more on measured media like TV, radio and print.
Here is a list of the top 100 global companies, which spend heavily on their promotional products programs.
Courtesy to adsource.com
Going by the above tables, we can say that your promotional products sales team should focus its marketing efforts more on pharmaceutical, hospitality and high-tech industries. They are the primary buyers of the giveaway merchandise. But make sure that you look for the clients in other industries also mainly in consumers goods and automobile makers. This analysis will help you distribute your ad spend budget for promotional products cleverly to gain the desired results.