{"id":3468,"date":"2022-01-18T23:49:57","date_gmt":"2022-01-18T23:49:57","guid":{"rendered":"https:\/\/www.promotionproducts.com.au\/blog\/?p=3468"},"modified":"2024-05-03T11:39:18","modified_gmt":"2024-05-03T01:39:18","slug":"how-do-you-measure-roi-with-promotional-products","status":"publish","type":"post","link":"https:\/\/www.promotionproducts.com.au\/blog\/how-do-you-measure-roi-with-promotional-products\/","title":{"rendered":"How Do You Measure ROI With Promotional Products?"},"content":{"rendered":"\n<p>Should I include promotional merchandise in my marketing mix?  <\/p>\n\n\n\n<p>Do promotional products generate a positive return on investment?<\/p>\n\n\n\n<p>These are common thoughts for a first-time purchaser of promotional merchandise.  You want to know what works and what doesn&#8217;t so you can make informed marketing decisions.<\/p>\n\n\n\n<p>Read on to learn calculating ROI and why it might not be the best metric for looking at the entire benefits to your brand.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"415\" height=\"415\" src=\"https:\/\/www.promotionproducts.com.au\/blog\/wp-content\/uploads\/2022\/01\/Cooler-Bag-On-Camping-Table.jpg\" alt=\"A promotional cooler bag on a camping table\" class=\"wp-image-3742\" srcset=\"https:\/\/www.promotionproducts.com.au\/blog\/wp-content\/uploads\/2022\/01\/Cooler-Bag-On-Camping-Table.jpg 415w, https:\/\/www.promotionproducts.com.au\/blog\/wp-content\/uploads\/2022\/01\/Cooler-Bag-On-Camping-Table-300x300.jpg 300w, https:\/\/www.promotionproducts.com.au\/blog\/wp-content\/uploads\/2022\/01\/Cooler-Bag-On-Camping-Table-150x150.jpg 150w\" sizes=\"(max-width: 415px) 100vw, 415px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">How do you calculate return on investment?<\/h2>\n\n\n\n<p>The calculation for return on investment is a simple one:<\/p>\n\n\n\n<p><strong>(Sales Growth &#8211; Marketing Cost) \/ Marketing Cost = Marketing ROI<\/strong> (expressed as a percentage)<\/p>\n\n\n\n<p>So if you attribute a sales growth of $5000 after giving away $2000 in merchandise your ROI is ($5000 &#8211; $2000) \/ $2000 = 150%.<\/p>\n\n\n\n<p>Easy right?  Well not so fast, the complex part is working out the attribution of sales growth to the merchandise you have given.<\/p>\n\n\n\n<p>One of the strengths of promotional products is generating brand awareness (which is very difficult to measure).<\/p>\n\n\n\n<p>Corporate gifting can also reduce costs by reducing turnover and <a href=\"https:\/\/www.ox.ac.uk\/news\/2019-10-24-happy-workers-are-13-more-productive\">increasing productivity<\/a> because of employee happiness.<\/p>\n\n\n\n<p>It&#8217;s for that reason that we highly recommend looking at Costs Per Impression as a better metric for calculating the benefits to your brand.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How to attribute sales to promotional products?<\/h2>\n\n\n\n<p>Here are some methods you can use to track short term sales increases:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Print a unique phone number on your products for analytic tracking<\/li>\n\n\n\n<li>A specific call to action on the products that directs to a specific landing page<\/li>\n\n\n\n<li>Using a QR code track the number of scans<\/li>\n\n\n\n<li>Gate the recipient receiving the merchandise behind a form that allows for further marketing<\/li>\n\n\n\n<li>Capture that information in feedback surveys from customers\/clients<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Cost Per Impression<\/h2>\n\n\n\n<p>The cost per impression (CPI) of a product can be as low as 1\/10 of a cent and ranks better than nearly any other advertising channel according to a study conducted by the Advertising Speciality Institute.<\/p>\n\n\n\n<p>Cost per impression of a branded product is simply <strong>Cost Of Product \/ Number Of Impressions<\/strong>.  <\/p>\n\n\n\n<p>So if you have a $10 promotional drink bottle that generates 1000 views over its lifetime that&#8217;s a CPI of just one cent ($10\/1000) = $0.01<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><a href=\"https:\/\/www.promotionproducts.com.au\/blog\/wp-content\/uploads\/2022\/01\/1-Cent-Coin.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"415\" height=\"415\" src=\"https:\/\/www.promotionproducts.com.au\/blog\/wp-content\/uploads\/2022\/01\/1-Cent-Coin.jpg\" alt=\"1 cent graphic for showing cost per impression of promotional merchandise\" class=\"wp-image-3745\" style=\"width:311px;height:311px\" srcset=\"https:\/\/www.promotionproducts.com.au\/blog\/wp-content\/uploads\/2022\/01\/1-Cent-Coin.jpg 415w, https:\/\/www.promotionproducts.com.au\/blog\/wp-content\/uploads\/2022\/01\/1-Cent-Coin-300x300.jpg 300w, https:\/\/www.promotionproducts.com.au\/blog\/wp-content\/uploads\/2022\/01\/1-Cent-Coin-150x150.jpg 150w\" sizes=\"(max-width: 415px) 100vw, 415px\" \/><\/a><\/figure>\n\n\n\n<p>The <a href=\"https:\/\/www.asicentral.com\/Downloads\/Public\/impressionstudy\/impressions-study-2013.pdf\">same study<\/a> found that in Sydney the estimated impressions of the following category was:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bags &#8211; 5881 impressions<\/li>\n\n\n\n<li>Pens &#8211; 3233 impressions<\/li>\n\n\n\n<li>Outerwear &#8211; 3179 impressions<\/li>\n\n\n\n<li>Caps &#8211; 2034 impressions<\/li>\n\n\n\n<li>T-shirts &#8211; 1755 impressions<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Tips For Maximising Promo ROI<\/h2>\n\n\n\n<p>Even though the benefits may be hard to measure here are some tips to help you maximise your next campaign:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Consider gating your merchandise behind a form or demo (trading contact details for a freebie)<\/li>\n\n\n\n<li>Have a plan in place for following up with recipients (e.g. call from a sales rep or tailored marketing content)<\/li>\n\n\n\n<li>Test, test, test and ask for feedback<\/li>\n\n\n\n<li>Understand what products your target audience will love<\/li>\n\n\n\n<li>Cheaper is not always better (remember this is a tangible representation of your brand)<\/li>\n<\/ul>\n\n\n\n<p>Speak to a promotional merchandise specialist to ensure you are getting the most value out of your budget.  Providing help with ordering, artwork and product selection.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Summing Up<\/h2>\n\n\n\n<p>While it may hard to come up with an exact number for ROI it&#8217;s no secret that <a href=\"https:\/\/www.promotionproducts.com.au\/blog\/how-promotional-products-help-business\/\">promotional products are an effective way to build your brand<\/a> and achieve marketing goals.<\/p>\n\n\n\n<p>Want to get started?  <\/p>\n\n\n\n<p>Speak with a promotional branding expert to have your questions answered or tailored recommendations for your situation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Should I include promotional merchandise in my marketing mix? Do promotional products generate a positive return on investment? These are common thoughts for a first-time purchaser of promotional merchandise. You want to know what works and what doesn&#8217;t so you can make informed marketing decisions. Read on to learn calculating ROI and why it might [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[86],"tags":[],"class_list":["post-3468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-guides"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Do You Measure ROI With Promotional Products?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.promotionproducts.com.au\/blog\/how-do-you-measure-roi-with-promotional-products\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Do You Measure ROI With Promotional Products?\" \/>\n<meta property=\"og:description\" content=\"Should I include promotional merchandise in my marketing mix? 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Do promotional products generate a positive return on investment? These are common thoughts for a first-time purchaser of promotional merchandise. You want to know what works and what doesn&#8217;t so you can make informed marketing decisions. Read on to learn calculating ROI and why it might&hellip;","_links":{"self":[{"href":"https:\/\/www.promotionproducts.com.au\/blog\/wp-json\/wp\/v2\/posts\/3468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.promotionproducts.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.promotionproducts.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.promotionproducts.com.au\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.promotionproducts.com.au\/blog\/wp-json\/wp\/v2\/comments?post=3468"}],"version-history":[{"count":10,"href":"https:\/\/www.promotionproducts.com.au\/blog\/wp-json\/wp\/v2\/posts\/3468\/revisions"}],"predecessor-version":[{"id":5772,"href":"https:\/\/www.promotionproducts.com.au\/blog\/wp-json\/wp\/v2\/posts\/3468\/revisions\/5772"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.promotionproducts.com.au\/blog\/wp-json\/wp\/v2\/media\/3740"}],"wp:attachment":[{"href":"https:\/\/www.promotionproducts.com.au\/blog\/wp-json\/wp\/v2\/media?parent=3468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.promotionproducts.com.au\/blog\/wp-json\/wp\/v2\/categories?post=3468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.promotionproducts.com.au\/blog\/wp-json\/wp\/v2\/tags?post=3468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}