Half-a-Cent – Study finds that Promotional Products average a Cost Per Impression of only $.005
Beating out Radio, Newspaper and Television, Promotional Products score big with smart advertisers looking to make big time impressions on small time budgets.
A 2010 study was conducted with businesspeople in the New York, Chicago, Los Angeles, Philadelphia, London, Sidney, Toronto and Montreal metro areas to determine the value of media and the cost per impression made with the target audience.
The Conclusion? Promotional products have a lower “cost per impression” than nearly all forms of media.
What is an “impression”?
An impression is created when a person sees or hears your brand image/message featured in some form of advertisement. Impressions are critical in the effort of creating brand awareness. The more a person sees your brand message, the higher the chance that they will one day do business with you.
Top 5 product categories which average the highest number of impressions..
#1. Bags – 1078 impressions per month
#2. Caps – 443 impressions per month
#3. Pens – 437 impressions per month
#4. Shirts – 344 impressions per month
#5. Calendars – 295 impressions per month
Calculating Cost Per Impression
Impressions are calculated by multiplying the number of times an item is seen/used by the number of people that saw or used that item and the brand message it carries.
As an example, let’s look at a branded Bic Pen costing the advertiser $.46 per per pen for 300 pieces, a total cost of $138.00 for this order.
Based on the findings of the study, writing instruments average 437 impressions per month, which would mean that this particular pen would have a $.001 cost per impression.
For the sake of argument, let’s calculate this example at half the amount of impressions, bringing it in at 218.5 per month. This equates out to $.002 per impression. Even at just 100 impressions per month, the cost only reaches 4 cents per impression!
So what happens if this advertiser gives out all 300 pens at an event and then decides to be conservative by calculating each pen at just 100 impressions in six months time.. This calculates out to 30,000 impressions at a cost of $0.0046 per impression. In 6 months time, the advertisers brand message was identified 30,000 times! All for $138.00 in branded Bic Pens!
What about that $35 branded shirt you’re wearing?
Did you realize that shirts average 344 impressions (views by others) per month? That equates to $.10 per impression after just one month. What happens to that number after 6 months? Your impressions average 2064 over 6 months and your cost drops to $.01 per impression.
Other findings from the study..
Top 5 types of promotional products used by those who participated in the study..
#1. Pens – 46%
#2. Shirts – 38%
#3. Calendars – 24%
#4. Bags – 23%
#5. Caps – 16%
Ability to identify the advertiser..
83% of those surveyed in the U.S. said they could name the advertiser on a promotional product that they had been given, with glassware (87%) and shirts (86%) having the highest recall.
Reasons for keeping an item..
75% of those surveyed said that the items usefulness is the primary reason they keep an item. The next highest reason was an items attractiveness, coming in at 27%.
Impressions of the advertiser..
41% of U.S. respondents indicated their impression of the advertiser was more favorable after receiving a branded promotional product.
Business after receiving a branded promotional product..
60% of respondents in the U.S. say that they have done business with the advertiser after receiving the branded promotional product.
Likelihood to do business in the future..
Among those who had not done business with the advertiser since receiving the item, 27% of U.S. respondents thought it likely that they would eventually do business with the advertiser.
Fate of items not planned to keep..
62% of respondents indicated that when given an item they do not intend to keep, they choose to give that item to someone else rather than throw it away.
Number of promotional products owned..
U.S. respondents have the most promotional products, averaging 9-10 items that contain and advertisers brand.
Importance of branded merchandise..
57% of respondents indicated that the brand name of a product is important, but only 18% consider them very important.
Gender & age marketing..
Males are more likely than females to own branded shirts and caps, while females are more likely to keep bags, writing instruments, calendars and health & safety products.
Those 45-54 years of age tend to keep the most items given to them (averaging 9.8 items) while those aged 22-34 tend to keep one less item than their more experienced counterparts.
The end result, promotional products not only have a great cost per impression, but they also get results. By using promotional products, small businesses are able to compete with their bigger budget competition and achieve a better result with less money.
Chris Morrissey is the Owner of Proforma Big Dog Branding, a premier provider of printing services, promotional products multimedia production and ecommerce solutions. To reach Chris: firstname.lastname@example.org; http://www.bigdogbranding.com/.
Posted on September 26, 2013, in Big Dog Branding Marketing, Branding your Company, The Future of Marketing, Uncategorized and tagged cost per impression, Marketing case study, ROI. Bookmark the permalink. 4 Comments.