Less is More

Quick! And no fair googling: how many years ago did John Cusack do the  famous “boombox” scene below? (Answer at end of this blog.)

Change is happening at a faster pace than ever today. In many cases, less is more. Far more. That tiny little iPod you see above can hold up to 1000 songs. That boombox  underneath? None. Zip. Nada. You had to insert a cassette tape that maybe could hold up to 12 songs on it. (Ask me what a boombox is and I may have to shoot myself.)

I’m recommending a new way to look at purchasing promotional merchandise: purchase LESS quantities MORE frequently, rather than high volume purchases to save a few bucks.

Here’s why: In the 14+ years I’ve been in promotions, I’ve seen massive changes in this industry. One important change has been that where suppliers published a catalog of their new products once a year in January, they now introduce new products all year long. This can make that totally cool new bag you just bought a year’s supply of look a tad dated very quickly.

Another change is that with the growth of internet promotional companies, the cost for promotional items started dropping due to high volume purchases by these providers. This drove many independent distributors such as myself to join large buying groups in order to leverage more competitive pricing. As a result, we can now offer lower quantities at substantially better pricing than listed, and usually at the same price if not better than what the internet companies do, especially once you read the fine print. Plus you get us to do all the hard work for you.

Sure, I wouldn’t turn down another order for 100k canvas bags, but unless my client could turn those over in just a few months and then buy something different (preferably from me again thank you), I’d recommend against it. Here are just a few reasons why:

1. ROI: you’re going to have far higher return on investment and/or objective if people are actually using the merchandise and therefore promoting your brand, rather than walking by your booth (ho hum) or stashing your boring bag in the trunk of their car.

2. Testing and Measurability: buying less allows you to test the item with your audience and measure your ROI. It allows you the flexibility to change course if necessary without a huge investment. Is it well received? Does it accomplish your objectives? How does it compare to what your competitors are offering? If you bring 100 bags to an event and only 10 go home with your prospects, what does that tell you? What does it tell you if 90 go home? Measure Your Marketing.

3. Staying on Trend: staying on top of industry trends creates products that are in high demand – whether that’s your own product and/or service, or the branded merchandise you give away to promote your own products and/or services. High Demand = High Visibility. And isn’t that kind of the point?

Sure, ordering less merchandise more frequently may add to your cost, but maybe not as much as you’d think – especially when factoring in your higher return on investment. But there’s also the “indirect” costs associated with ordering more frequently. This is where working closely with distributors such as myself can be a huge time-saver. We’ll meet with you personally to discuss your specific marketing objectives. With a clear understanding of your needs, we can narrow the search and recommend highly targeted and measurable solutions. You simply choose what works best for you; we’ll take it from there!

If you’d like to discuss this new buying strategy further, please contact me.

And in case you were wondering: The famous “boombox” scene was 23 YEARS AGO. (“Say Anything”, 1989.)

Now for the bonus round: what SONG did he play? And yes – you can google now. Correct answers get a prize from me. Really really old me. (Can you tell I have a birthday coming up?)

Free Offer on Art Glass Awards

Remember a few weeks back when I mentioned that the latest thing in awards was ART GLASS? (see http://wp.me/p1EnMT-bi) Well, one of my best Art Glass suppliers is offering a FREE setup (a $79 savings) on their Art Glass Awards. See http://www.visionsawardcraft.com/visionsawards/ and let me know if you see anything that might work for you.

Friday Funnies

This was sent to me by a fellow affiliate. Love it!

Outstanding in the field...

Subject: Umbrella Review from client

I have a client in NY who received 4 umbrella samples from me and their team used them on a very rainy day. This type A over achieving group just sent me their professional  analysis of the four samples.  If you have a minute or two and need to lighten up your day, it’s worth it!     Katherine

Umbrella #1

Though the label says that it was manufactured in France, I am inclined to think that it was made in Israel considering that it provides roughly the same coverage as a yarmulke. This umbrella is of the “pocket size” category, an outdated and trite group of umbrellas. The umbrella is black with sewn white border around the edge of the canopy-a gaudy over-the-top effect that seems like a desperate attempt to make up for the microscopic handle, which, it seems, could not even be properly grasped by a newborn infant or a Lego man. The mechanical function of this umbrella is its strength, the deployment was quite buttery smooth.

Umbrella #2

At first glance this umbrella appears to be of average build, handle size and coverage. I suppose it would be almost entirely average if it weren’t for its explosive and frightening deployment. Though this umbrella is armed with the standard “push button” release, we were concerned that an accidental triggering could be mistaken for a small explosion or shoe bomb, hardly what today’s professional needs while crowding into the subway car or using the public restroom.

Umbrella #3

This is a golf style umbrella-huge, impractical and embarrassing. You have to wonder about people who carry this type of umbrella. The coverage of this hand held water protection shelter is so vast, that carrying would be equivalent to operating a human sidewalk plow. Rejected.

Umbrella #4

We all seem to agree that this is the best choice. Though it takes itself a bit too seriously with a double retention strap (are you kidding me?) and a “wooden” handle, its combination of a mid-canopy vent, a pleasing and mechanically efficient deployment, and proper heft make this a clear winner. All of us are in agreement that we would be proud to distribute this specimen to our clients. A memento of our commitment to client service, high quality work product and protection from the elements.

-The Umbrella Committee

An Auto Media Holder that makes sense

This is one even I will use in my own car! Check it out. It fits into your air vents; out-of-the-way yet visible, and no sticky attachments anywhere.

ID Followers get this at the 2500 piece price of $2.49 each, as long as you order at least 100.

If you like this product as much as I do, let’s brainstorm to see if we can strategically apply it to help you meet your marketing objectives. Call today – 608.519.0300.

Employee Incentives – Part 3

Recognition and reward programs help the bottom line.

• Companies with recognition and rewards programs outperform their competition
• Recognition and reward programs are ROI compatible.
• Customer satisfaction, loyalty and profitability are tied to recognition.

The above is from an excellent article on Employee Incentives: The Time for Employee Recognition and Rewards Programs Is Now.

Today I’ll talk about another component of employee incentives: Awards.

Awards are effective for a number of reasons, but one of the most important is due to the peer-to-peer recognition that encourages and energizes teamwork and camaraderie. It’s important to recognize outstanding behavior in employees regularly and as close to the behavior being rewarded as possible. Rather than wait for  a once a year award ceremony, incorporate awards at the beginning or end of regular weekly or monthly meetings. On the spot recognition is even more powerful. Of course you don’t want to shut down production to honor an employee with a big award “on the spot”, but a well timed “attaboy” can go a long way towards reinforcing positive behavior and creating excitement in the workplace.

I discussed employee incentive programs in Part 1 of this series. Most incentive programs these days have points cards built in that you can purchase ahead of time and hand out on the spot. These cards could be custom printed with your logo and a thank you message and include a set number of points that the employee can accrue towards a purchase of their choice.

For more formal recognition, awards go a long way towards making an employee feel valued. The trend for awards today is art glass, which transforms the traditional (yawn) award into a beautiful work of art the employee can enjoy on their desk as a paperweight (highly visible to their peers) or in their home (highly visible to their loved ones). Here are a few examples: (click on images for more info)

BONUS: For MUCH more information, white papers, and research on incentives and awards, check out the website http://www.incentivecentral.org/.

Employee Incentives: Part 2

Best Kept Promotional Product Secret: SAMPLES

Here’s a way to reward your employees with a gift of their choosing without having to set up a formal incentive program: let them choose their own gift from one of my suppliers, and I’ll get that item for you as a “blank sample”. One nice thing about incentives is that it’s not necessary to brand them; employees will remember where they got a gift they worked hard to earn.

You’ll be charged the cost of the item at minimum quantity, plus shipping. All you have to do is send your employees to one of my supplier sites, such as www.LeedsWorld.com or www.SanMar.com, they choose their gift, and you send me the order.

The reason this is a best kept secret is because promotional product distributors  MAKE LITTLE OR NO MONEY on this sort of transaction, especially when  overhead is factored in. In fact, we may actually LOSE money. That’s why most distributors are reluctant to mention this option. However, I gladly do this for my loyal customers that give me business throughout the year. Let me know if this is an option you want to explore.

That said, I will say that there is a downside to this: you’ll have to give your employee a dollar value for them to choose their gift. (Unless you’re really really happy with them!) That can be a sticky issue: how much is an insult and how much is the right amount to incentivize the behavior? It’s different for each employee. Here’s an excerpt from the e-book “5 Employee Holiday Gift Mistakes — The New Rules of Giving”: (email me for the pdf)

There’s no disguising the value of money, no matter its form. And it’s human nature to evaluate that value. The recipient’s emotions can run the gamut from “Is this all I’m worth?” to “Why not spend this money on fixing up the lunchroom?” Too much, too little, never right.

Once you offer a cash-based gift, you’re also setting a precedent. Over time, employees will expect you to increase the amount of the gift, i.e., as the cost of living rises or company profits increase, so should the value of the gift. It’s the escalation principle in action. Conversely, if budgets are cut or the management changes direction, your gift-giving program may take a big hit and knock out your employee morale.

Employee Incentives your Employees will Will Work For! Part 1

Two of my clients recently asked about employee incentives:

“What are some creative ideas for employee incentives instead of the usual things that everyone else does?” – Sandra, CEO of an HR Company

and

“…with a diversified group of employees at a small business, how do you find employee incentive items (gift rewards) that will feel rewarding to each person, since each person has different wants/needs/values for what they find rewarding.  I don’t want to waste time/money on items that only a few people appreciate.” – Julie, Manager of a veterinary clinic

Today I will discuss Incentive Programs:

Remember those programs way back in the day where your boss gave you a catalog full of cool gifts for you to choose from? Well, those programs are still alive and well today, available on-line in addition to print catalogs. These programs are highly successful for one very good reason: your employees choose their own gift.

There are at least two ways these programs can be implemented:

• Memorable Gift Booklets – recipients choose their own gifts from preset price tiers.
• Incentive Point-Programs  – participants accrue points redeemable for merchandise.

Memorable Gift Booklets: A simple gift redemption program with no minimums. You choose the value of the gifts and pay the costs up front. Your employees never see a price, and they choose their own gift. This is typical of a holiday gift giving program or years of service program, but can also be used as an incentive program where you want a fixed up front cost for a limited period. An example of how this works can be seen here on this short video:

Memorable Gift Booklets

Incentive Point-Programs: This is a pay as you go type program. The fixed cost of points based incentive programs is 20% – 30% of the program. But here’s the best part: the remaining 70% – 80% does not get paid out until the program has achieved its goals and the rewards have been issued and redeemed. This makes the program highly measurable, and as such, also possible to calculate how much to invest to achieve your best ROI. For example, if the behavior change you are incentivizing will result in higher sales volume, you can calculate the average Customer Lifetime Value (CLV) and decide what kind of investment makes sense for you return. (CLV is the amount of revenue a typical customer will generate for your company during his or her engagement with your brand.)

The cost of this type of program is based on how much or how little you want to be involved in administering it. It is more expensive to do a points based program than to, say, give the employee a choice between a cool water bottle and a tote bag, but you stand a far better chance of getting a return on your investment when your employee can earn the gift of their choice.

To see an example of current gift selections with one of my suppliers, see their online catalog: www.gifthdq.com/cag18.

BONUS: email me at laurel@IDonTheWeb.com for a FREE e-book that relates to Holiday Gift Programs: