Posts Tagged ‘Cost Effective’
Friday, October 2nd, 2009
At the world famous Cranfield School of Management’s Business Growth Development programme they spend a lot of time talking about a couple of tasty food analogies; “Squeezing the Lemon” and “Growing the Pie”. As part of the marketing part of the programme these two ideas are at the heart of the growth of any business. So what’s the story behind these culinary concepts for success? Let’s start with the lemon.
The lemon signifies your customer base, and who amongst us can put hand on heart say we get the most out of all our customers? Do we sell as much as we can, are there other products or services we can sell to them, do we sell to all divisions and departments of our customers’ businesses? No, well that’s actually the story for most companies and to add even more zest to the analogy think of your average customer like this; if we’re using a lemon at home more often than not we cut into it and squeeze out what we need and then stick it in the fridge – great, the poached salmon tastes great. The problem is when we go to use the lemon again (sometimes after weeks sitting lonely and forgotten next to the eggs) it’s wrinkled and dried and all that juice has been wasted.
And that’s what happens to new customers; we fail to squeeze the maximum amount of business out of them. After the initial order is won, we don’t pay them enough attention until eventually they go and find another supplier. And if you didn’t know already, it costs up to seven times more to aquire a new customer than look after an existing one. So the moral of the analogy is; get squeezing - before your lemons dry up or someone else does it for you.
Of course, in the light of the above blog, it would be remiss of me not to mention that The Corporate Gifts Company supply a comprehensive selection of promotional items and advdertising merchandise that are perfect for communicating with your customers in a tangible and cost effective way. Whether you want to reinforce your brand values with items such as business card cases or clocks, or say thank you to key customers with an appropriate promotional desk item or personal accessory, The Corporate Gifts Company can help you squeeze your lemons.
Look out for “Growing The Pie” next week!
Tags: brand name, Business Gifts, Business ideas, Corporate Gifts Co, Corporate Message, Cost Effective, Engraved Gifts, Exexcutive Clocks, Growing your business, promotional business card case, Promotional Clock, promotional gift ideas, Promotional Gifts, promotional incentives, Promotional Messages, Promotional Sourcing
Posted in Corporate Gift Range | No Comments »
Friday, August 21st, 2009
Make your promotion special
Promotional campaigns come in all shapes and sizes. Quantities, target audience etc all vary; from hundreds of thousands of plastic pens at a few pence as give–aways, to a prestigious item for heads of state. When budgets are squeezed like now, there is always awareness that a “special” corporate gift for selected customers or staff can have a bigger impact and can be more cost effective than adapting a scattergun approach that is so often prevalent when times are better and budgets are more liberal. If you allocate the same budget but purchase fewer items coupled with a targeted approach, your promotional campaign can be cost effective with greater results
Segmentation of your database is key. You can slice your pie any number of ways (dependant on your goals and targets along with your particular market) from top spenders to key decision makers, or from most profitable customers to lapsed customers. Good data, of course, is essential, and put good use a series of highly targeted campaigns to defined customer groups will always be better than a blanket campaign to your whole database.
The Corporate Gifts Company
specialise in high – end business gifts and executive incentives ideal for targeted promotions. Engraving individual names onto a corporate gift such as a desk item adds little cost will have a huge impact. So, the next campaign you plan, try to segment into customer groups with different messages and choose your corporate gifts accordingly.
Make your promotion special
Tags: Branding, business gift, Business Gifts, corporate gift, corporate gifts, Corporate Gifts Co, Cost Effective, engraving, executive incentives, gifts company, promotion, promotional campaigns, promotions
Posted in About The Corporate Gifts Company, Corporate Gift Range | No Comments »
Wednesday, August 5th, 2009
In today’s difficult economy many companies are seeing their traditional revenue streams shrinking. If there is one challenge to the sales promotion industry it is how to reach minority markets, currently estimated at about £400billion. Conventional marketing and promotional methods are not enough to capture those hard – to – reach minority markets This is made up of a range of markets including ethnic minorities, seniors and the LGBT community. A lot of the organisations have been unsure how to respond to these changes, opting instead for a, “one a size fits all,” generic approach.
During the recession, businesses should be investing in marketing strategies that target these diverse, groups through targeted products and messages.
An advantage of the promotional merchandise industry is that it provides the perfect platform for this short of approach to our increasingly diverse, cultural society. Promotional products and services can reach and engage with hard to reach audiences.
In terms of cost, promotional items and corporate gifts, can reduce wastage and maximise efficiency. According to the Office of National Statistics and Brand Choice;
1) Disposal income in the U.K ethnic minority market is access of £90 billion.
2) 18.7% of the U.K population is 65 and over.
3) 8% of the population in the U.K are ethnic communities.
4) 1/3 of businesses are owned and run by members of ethnic minorities.
A number of major brands already communicate well with ethnic groups in the U.K as part as their marketing, and PR strategies, such as Tesco and HSBC. They, have conducted specific very successful campaigns and built brand loyalty and revenue. Niche products tailored to meet specific needs, are also doing well.
In the good times, when budgets are generous and targets are perhaps less important, sales campaigns often are characterised by a scattergun approach – throwing spaghetti at the wall and hoping enough of it will stick. Obviously in a recession every marketing pounds or dollar needs to count and promotional items and corporate gifts can prove highly targeted and cost effective; different products can be chosen for each and target market with a range of branding techniques; from jewellery to keyings and flash drives .
Tags: Branding, corporate gift, corporate gifts, Cost Effective, promotional item, promotional items, promotional products, sales promotion
Posted in About The Corporate Gifts Company, Corporate Gifts Advice and Help, Corporate Gifts Business Opportunities | No Comments »
Thursday, July 23rd, 2009
In today’s climate of slashed marketing budgets, a little guerrilla marketing could go along way – but what’s it all about?
Guerrilla marketing can shake up markets and break the mould. It can make your company seen as innovative and daring with a reputation for creativity. That goes for all of your promotional activities too. Guerrilla marketing with its unconventional tactics and frequent run-ins with the law can be an ideal way to launch a new business or product. By bending the rules a little by using a lot of imagination you can execute cost effective ideas to get your target marketing buzzing. Guerrilla Marketing tactics can also identify your brand or company as one to take notice of.
To refer to a campaign as guerrilla, it has been surprising and use media in unconventional way. But more than anything, a guerrilla idea must try and get customers talking. Trying to establish marketing on a low budget is particularly challenging. Guerrilla tactics raise your profile and can also position your brand as an unconventional and innovative company. Traditional forms of marketing might not be able to convey the same message to the right audience.
Online Guerrilla tactics- the internet is also a hotbed for guerrilla activity, from leaving comments promoting your sites in a rival’s forum; to posting brands content on sites like YouTube and Flickr some search engines marketing also have a rebel about it. Until recently if you typed in “miserable” failure into Google, George Bush’s homepage would come up as first result!
The practice known as Google Bombing is now a common part of online marketing guerrilla marketing.
Guerrilla marketting is a cost effective and way of promoting your business. It can motivate staff and make people take notice. It’s not for every one; you would not see many banks using guerrilla tactics, and it doesn’t always work. But every once in a while, a great unconventional idea can be highly effective and won’t kill your budget.
Click below to find examples of guerrilla marketing
http://weburbanist.com/2007/06/06/15-coolest-craziest-and-most-innovative-guerilla-marketing-campaigns/
http://digg.com/odd_stuff/Great_examples_of_Guerilla_Marketing
http://www.bootstrappingblog.com/10-great-guerrilla-marketing-examples
Corporate gifts are one of the most traditional promotional methods, but used creatively and imaginatively they can form of a valuable part of a Guerrilla marketing campaign – do something different with your business gifts, engage your target audience and really get them talking about you.
Here are a few ideas to get you thinking;
- If you’ve got an event you need to promote or invite customers, to use metal post cards printed or embossed with individual details. They can be used like a normal postcard. Costumers would have never received anything like it before.
- Most companies just engrave a logo on a promotional product; but why not engrave a challenging message, question or riddle that drives traffic through your business’s websites or initial a response.
- Business cards holders are one of our most popular corporate gifts; but most are sent out empty – why not fill them with your own cards or printed leaflet.
Obviously different things will work for different companies so why don’t you ring our sales staff on 0845 430 2902 to see how The Corporate Gifts Company can help with your marketing campaign.
Tags: business gift, Business Gifts, corporate gift, corporate gifts, Corporate Gifts Co, Cost Effective, gifts company, promoting, promotion
Posted in Corporate Gifts Advice and Help | 2 Comments »
Monday, July 20th, 2009
Giving business gifts is the most successful advertising and communication tool that a business can use. Corporate gifts remain the most enjoyable method to strengthen the relationship between staff in the office and to express your thankfulness to your customers, corporate gifts have come an extremely long way and do not necessarily mean plastic pens or bumper stickers!
Of late businesses have increased marketing budgets for business products, they have realized that it is one of the most cost effective marketing tricks available and frequently the most effective one. It doesn’t matter what the size of your company is or your budget, it is still possible to fit the promotional product campaign to your limiting factors.
Perhaps the most appealing thing about business gifts is the ability to articulate that certain sentiment you can’t communicate through other advertising strategies. People love to get gifts, especially gifts that are specially picked out for them and that illustrate how much you value them as a customer, a client, a business partner or a part of your team.
While business gifts are not the solution to start the ball rolling on new commerce contacts and dealings, they certainly play an important part in maintaining the associations you have already established. Giving corporate gifts is not just a way to construct relationships, but it’s more a way to continue them and it’s also a very good way to promote your commodities and services. In addition to that, business products can be used to improve your company’s image.
Tags: Advertising, business gift, Business Gifts, business products, corporate gift, corporate gifts, Cost Effective, promotion
Posted in Corporate Gifts Advice and Help | No Comments »
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