How to Track the ROI of Your Promotional Giveaways
If you’re a small business, you know the cost of staying afloat isn’t cheap.
You’ve got a lot of expenses to juggle. It comes with the territory. Insurance, health care, regulations, and the biggest expense, payroll. You might think you need to hoard every penny.
But, here’s the thing. You’ve heard of that old adage “you’ve got to spend money to make money”? It’s very true.
One of the most cost effective ways to re-invest that hard-earned dough back into your company is with promotional giveaways.
Yes – putting your name on a product and handing them out for free might seem like a headache. That said, they’re surprisingly effective.
It’s no secret that everyone loves getting something for free but they’re actually paying for it – with their attention.
You know swag is a sure bet, but how are you going to measure the ROI for your business?
Stick with us – we’ve got the tips to help you maximize this effective marketing strategy.
Decide What You Want To Measure
What’s the R in your ROI? Of course, you’ll want to see your bottom line expand, but you’ll have to be more precise than that.
Is it going to be more visitors to your website? Do you want to get more phone calls? Want to see more people walk through the front door?
Whatever you want to see happen, make sure your promotional giveaways are working towards that goal.
Create A Compelling CTA
Now that you know what you want to measure, you need to craft your CTA, or call to action.
Looking for more phone calls? Think about those refrigerator magnets you sometimes get from pizza places. They’re tiny, yet do the job.
Spend money on a promotional giveaway that makes it easy for your potential customers.
The best promos work in tandem with your goals so you can accurately track your ROI.
A/B Testing Is Your Best Bet
While a promotional giveaway is an almost sure-fire way to get your message out there, it might take a few tries before you get it right.
You might spend a little bit of money on this part, but it’s worth it to land that winning strategy.
Play with your promotional giveaways to see what’s most effective. Put a few options in front of potential customers to see what they respond to.
Is it the giveaway itself? Would a different color sell your image more effectively?
Be creative and have a little bit of fun!
Track The ROI For Your Promotional Giveaways
After all is said and done, come back to your measurable return.
If you’ve done it right, you’ll see the results you were looking for.
It can be hard work making the perfect promotional giveaway, and it might cost you a bit up front, but when done right, it can be a big boost to your business.
There are lots of great ideas for promos out there, start strategizing!