It’s an old expression that’s a perfect fit for what happens when companies set about cutting expenses without thinking about the harm they do to themselves in the process.
The first place cost cutters turn when looking to cut expenses is marketing, rooting around for savings by eliminating products that on the surface can be judged frivolous. Give aways, magnets, pens, mugs are all easy targets — giving anything away (imprinted or not) when money is tight seems wrong. Yet these hardworking items have a lower cost per impression than other ways of getting your message out. Things like newspapers, TV and radio spots.
Many companies, schools and non profits know how effective promotional products are. Politicians know it too, though they sometimes (most recently in Oklahoma) pretend they don’t. Whenever you hear such foolish talk, think about this. If promotional products were not affordable and effective ways to build awareness, to get a message out, would politicians be using these items themselves to win elections? Probably not.
Those who use promotional products know that these silent workhorses get noticed and cost less than other forms of advertising. Plus they last a whole lot longer than a TV or radio spot (you know how people love those) or an ad in a newspaper or magazine. A useful, quality product with your name or other company information on it is a lasting reminder of your business.
A gift that gives back.
Promotional products have been shown, over years of research by the ASI (Advertising Specialty Institute) to be more cost effective than other forms of advertising. PLUS the research shows that unlike other ways to advertise, people hold onto promotional products for a long while, so your message gets seen over and over again, by countless eyes.
It’s hard to put a price on that.
So when the cost cutters come calling, hold them off with these three facts:
- Promoting the business is not optional, unless you do not want to stay in business.
- Promotional products are an affordable, effective and lasting way to get your business noticed and remembered.
- Cut out, or cut back, in other areas, but use whatever resources you can on giving customers (and prospective ones) a gift that will give back, over and over again.