When you spend money on promotional gifts for your business, you're putting money into your relationships with the people who help you succeed. These people include your partner, your client, your employees, your loyal customers, and anyone else who has used your products or services for years. Corporate promotional gift items always have a price, because they are an investment. But sometimes the return isn't as good as you thought it would be. In other words, the money you make just covers the cost of all the corporate promotional gifts you give out. What doesn't look right?
Many companies spend money on promotional gifts for only one reason: to make more money. As was already said, giving promotional gifts to partners, clients, and customers strengthens relationships, which will lead to more money. This is because people remember both the gift and the company's name, as well as the products and services it sells. Meanwhile, a company that only gets back the amount of money it spent on a corporate promotional gift item is definitely doing it wrong.
It might be okay to give a partner or client a $100 gift as long as they bring in more than $100 for the company. But if the company gives away free promotional items that cost the same amount to a lot of people who can only give the company a small amount of money, that's like jumping off a cliff with a big rock tied around your neck. Because putting too much money into corporate promotional gift items, even if the return isn't that great, is the same as killing the company.
Simply put, the cost of a corporate promotional gift should be based on how much each recipient can be expected to make back.
This only means that if a company wants to give a lot of people promotional gifts, they have to be cheap and useful. The item is both cheap and useful because it makes the most of the company's budget while still giving the expected amount of return.
So, unless you're giving something to just one or two people, it's best to choose a cheap corporate promotional gift that works well. But then you ask, "Does cheap mean bad quality?" In some ways, yes. But that doesn't have to be the case all the time. There are cheap promotional gifts that serve the company's purpose well and are of high enough quality to raise the value of the product and the company's name. On the internet, these things might cost as little as $5, and if you buy a lot of them, they might cost even less. Cheap promotional gifts should be useful and related to the company's products or services to be more effective.
The goal of a cheap corporate promotional gift should be to help the company make more money. The gift could be a way to say "thank you," show appreciation for what the client, partner, or customer has done for the company's success, or act as a marketing strategy. In either case, a cheap corporate promotional gift should be of high quality, related to the company's products or services, and useful to the person who gets it.
