Marketing is crucial for every company or brand for acquiring new customers and retaining the existing ones. As SMEs usually have limited budget for their marketing activities, selecting economical marketing tools are very important. Some of the most cost-effective and influencing marketing tool that SMEs can go for promoting themselves are:
1)Promotional gifts: Promotional gifts are one of the best marketing tools, which are largely used by many companies and brands. These are the gift items having name or logo of a particular company printed on them. Creating brand awareness or promoting brand image is the main purpose of promotional gifts. These gifts don’t cost much to a company but offer a long lasting influence because of their longer shelf life. Pens, note pads, dairies, mugs, pen stands, key chains, paper weights, decorative table tops, etc. are the most common forms of promotional gifts. These are the little giveaways offered by the company to its clients and other audiences which help in promoting the company’s corporate image. Promotional gifts are often distributed during corporate meetings, events, conferences, trade fairs, special sales, festivals and other special occasions.
The quality of the promotional gifts should be good as poor quality gifts can ruin the image of a brand in the customer’s mind. Promotional gift often work as impression maker. These gifts can be presented to employees, partners, clients and potential customers of a company. According to Promotional Product Association International, out of thousand people who have received promotional gifts in last one year, 80% could recall the organization advertised, 75% also remembered the product or service being promoted and a full of two-thirds could recall the specific product, the advertiser and the message being promoted.
Some of the benefits of promotional gifts are:
- Long lasting impact
- Develop loyal customers
- Brand awareness or brand recognitions
- Competitive advantages over other similar brands
- Promote corporate image
2) Corporate Seminars: Corporate seminars are one of the other cost-effective marketing tools ensuring better brand image and brand promotions. Seminars on your company, industry, products, etc, result in developing image of an expert in a particular field and help in building credibility. Direct interaction with customers and other stakeholders during such seminars ensures better customer relations and builds up public’s confidence over a particular brand or company. Corporate seminars are one of the economical ways of creating brand awareness and improving the corporate image of a company. For example, Tradeindia.com being an B2B portal organized a seminar on ‘ How SMEs can grow their business on the web’ in Jaipur to educate the SMEs owners about online business opportunities.For further details on this seminar, click here.
3) Media conferences: Media, being the most credible source of information for general public, is the best way to promote your company and to develop a good brand identity. Press conferences persuade media to publish news about your company and products which leads to positive promotion of your company. Organizing press conferences is much cheaper in comparison to other advertising mediums. These conferences also help in maintaining good relations with media which is quite important for ensuring good public relations. Press conferences allow you to give detailed information about your brand and why your products are better and different from all of the other brands. When media present these details to the general public through news, it builds a good image of your brand in the customers’ mind.
4) Trade Fairs: Trade fairs are the least expensive but most effective marketing tool. Trade fairs provide interactive environment where consumers get the opportunity to have a face to face conversation with the sellers. These fairs increase buyer’s confidence over a particular brand. These fairs even serve many business leads and high value sales. Trade fairs are hubs of business opportunities and a way of getting new customers and developing brand awareness. According to a study, Trade fairs result in 63 % faster lead generation as compare to other advertising mediums or marketing tools.