How to Budget for Promotional Products

budget-blog

Whether you’re a fledgling startup or a major corporation you may have trouble finding the sweet spot when balancing your marketing budget. Depending on the size of your company your marketing budget could represent anywhere from 6 to 20% of your annual budget. It’s vital for new companies to maximize brand awareness and keep their messaging fresh in the minds of clients and prospects.

So how much should you budget for promotional products? This number will vary slightly based on how many trade shows and events you plan on attending, but according to this marketing presentation via HubSpot promotional product marketing typically accounts for less than 20% of your total marketing budget.

The year is still in its infancy, so you still have time to plan to incorporate promotional products in your marketing campaigns. We’ve rounded up the top four types of promotional products you should budget for in 2018:

Brand Apparel for Your Employees

Purchasing high-quality brand apparel for your clients and employees guarantees local brand visibility and can foster a sense of community within your team. The trick is blending the personality of your brand with fashion-forward branded clothing items that employees will actually wear.

Trendy promotional hoodie

Investing in apparel such as this  trendy hooded sweatshirt, for example, will ensure your branded apparel doesn’t end up in landfill.

If you’re looking to save a little money, consider accessory pieces such as socks, sunglasses and flip flops. 

 

Spend the extra time to create appealing looks that your team will love by focusing on the latest fashion trends.

Promotional Gifts

There’s no better way to reinforce your employees’ value than by giving meaningful gifts throughout the year. For this category, think outside of the box and spend a little more money to show how much your employees mean to you and the company as a whole. Teams that feel appreciated will work harder and stick around longer. Go with something like a power bank or chocolatey treats.

Trade Show Items

You need room in your budget for standard trade show giveaways to draw traffic to your booth and make visitors remember your brand. 88% of people can recall the name of the brand on promotional products they keep, according to Promotional Products Association International. You can go with promotional stress relievers which  are quick, easy giveaways that people love to grab. You can also try to stick out from the crowd with items like a stainless steel tumbler which is on trend and can be reused again and again to increase your number of impressions.

Cost-Effective Promotional Products

At HALO you can order promotional products  in large quantities for terrific savings. Cost-effective giveaways can be used at trade shows, but they can also be used at events like career fairs year-round to charm prospects and generate interest in your brand. You can stick with industry staples like tote bags or pens that are shown to be effective, or you can try a trending item like a fidget toy.

Iron out your promotional budget with your HALO Account Executive and brainstorm the best promo items for your next fiscal year.

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