Entrepreneurs in every field of business, whether they provide goods or services, understand the need to advertise. However, how do you gauge whether your methods effectively bring in new business or secure the continued patronage of your client base? One of the most useful tools in the business toolbox is known as Return on Investment (ROI). Using this as a measure of effective advertising can show entrepreneurs where their dollars are well spent, which media are less effective, and where new techniques prove profitable. In the article below, we’ll discuss the merits of printed promotional materials in relation to the ROI of other forms of advertising.
Humans in the Modern World
While various psychological techniques have been employed to enhance the effectiveness of radio or television advertisement, many entrepreneurs overlook the human factor. Today, individuals are overexposed to both sight and sound, creating a saturated environment in which radio and television advertising becomes subsumed.
People tend to tune out the commercials—spending time thinking about other tasks and devoting their attention to other features of their daily lives rather than listening or watching attentively while a product or service is promoted. Internet advertising faces some of the same challenges presented by this environment of saturation.
How is print media different from other forms of promotion? First, it offers potential and existing clients a tangible reminder of your service or product. Print media delivers clear, concise information while also capitalizing on our human propensity to value repeated contact with objects over messages. There is also another way in which printed materials benefit entrepreneurs.
Measuring Impact and Investment
Earlier, we spoke about the ROI of advertising methods. One of the largest factors entrepreneurs must consider when designing an advertising budged is the cost-per-impression of their media presence. While television can potentially yield some welcome business, it tends to have a high cost for each impression it creates—as much as 9 times that of print materials.
The range of types of promotional materials is more extensive than might be available to a business with a limited budget. While a manageable ad campaign on local cable or a radio station will limit options to creatively express the values and range of services or products you offer, printed materials are creative in and of themselves. Some options include:
• Memo or sticky notepads
• Business cards and postcards
• Ball caps
• Pet garments (bandanas, leashes, collars, etc.)
• Chip clips
• Fridge Magnets
• Foam beverage sleeves
• Calendars with your company logo
• Reusable grocery bags
• Canvas tote bags
The ROI of printed promotional materials is a combination of their perceived value by potential customers and existing clientele combined with the constant, unobtrusive reminder of your company. Promotional items function as a form of free advertising. Once the initial cost is absorbed by an impression, users of the promotional item will continue to be exposed to your logo and slogan. Not only will you save money, but you’ll also provide customers with the concept that you are creative and provide useful items, even if those items are not directly related to what your company does.
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