Shaking the Money Tree
Choosing Promotional Items Based on Recipients' Household Income
Sellers need buyers
If your mission is to raise sales or increase brand awareness so as to increase sales, you need to be targeting the right people and choose promotions based on income group-preferably people with enough disposable income to purchase your product or service. You need to advertise and sell your services to those who can buy them. So if you're working with a limited budget, you need to make logical decisions about where to direct your resources. This is where market research can really help to fine tune your approach.
What do MY potential buyers want? Here is a little food for thought from the Global Advertising Specialities Study 2013:
Buyers with money to burn: Earning $100K+
- Affluent consumers who make $100K+ own an average of 10.8 promo items.
- Those making $100K+ are more likely to own a promotional jacket-a promotional item that has a 95% advertiser name recall! And nearly half of the recipients of promotional outerwear say they are more likely to do business with the company who gave them the item.
- Six-figure earners are more likely to own a logoed USB drive, and the recipients mostly likely to keep and use these drives tend to be in the coveted 21-44 year-old demographic (which is more apt to be comfortable with current technology and be involved in tech careers).
- Buyers at this earning level are the less likely to own a promotional pen or pencil than those earning less, but of note is the fact that they are the most likely to own logoed health or safety items (perhaps attributable to the likely numerous professionals in careers related to medicine and biotechnology to be found in this group).
Buyers with some extra cash: Earning $50-$99K
- People who make $50K-$99K+ own an average of 10 promo items.
- Take aim at this middle bracket by choosing branded tees, headwear, drinkware, or calendars since they are the most likely to keep these items longest. These are are also great items for most earning levels, as they are considered useful.
- Buyers at this level tend to be more financially mobile and may follow into the next earning level, so items aimed at your $100K+ audience may also serve this group.
Buyers on a budget: Earning < $50K
- People who make < $50K own an average of 8.5 promo items.
- Budget buyers are more likely to carry an imprinted promotional bag than the two other income groups, increasing your brand's visibility OVERALL!
- It is important to keep in mind that those individuals making < $50K make up about 73% of the income-earners in the US. This is a tremendous number and their buying power should not be underestimated.
It's all about the number of “Impressions”
Don't forget that recipients in ALL income groups may act as walking billboards for your company if they are wearing or carrying your logo! The number of times that your logo or information is displayed or seen by others is referred to as "Impressions". These impressions all represent chances for your company's logo to be seen and serve as forms of advertising.