Filed under: News About ASI, Research
ASI recently completed an exclusive study about end-buyer expectations for promotional products compared to other forms of advertising, the types of programs that use promotional products and the products they’re using for those programs. Of course since everything is about “the economy, stupid” we asked about how marketing spending and promotional product spending has changed this year as well.
It’s amazing what you can find out by just asking, and we found out some great stuff, like:
- Distributors can increase their sales by educating customers on the value of promotional products. Always educating end-buyers about the positive return on investment (ROI) promotional products have can result in some real ROI for the distributor, too. Nearly one-half (48%) of respondents said that promotional products are expected to deliver positive ROI. The good news is that the higher the expectations, the more end buyers are willing to spend. Those who have the highest expectations for promotional products ROI will spend nearly nine times more on them than those who believe promotional products are simply “nice to have but…”
- And when it comes to delivering the best ROI, nearly two-thirds (64%) of end-buyer respondents told us that promotional products were second only to the internet as the most effective advertising medium.
- But it isn’t all about the bottom line, as creativity is the number one trait end-buyers look for in distributors. So in addition to coming to the table with new product ideas for an event, consider teaming an ad specialty promotion with the internet to deliver a real one-two punch. That’s creative, and it’ll have the ROI end-buyers are demanding.
Studies like this, and all the others we’ve done this year and have planned going forward, make it a fascinating time to be part of this industry. But we’re always looking for new ideas to explore that will provide information to our members, so if you have anything you’d like to know more about, just ask, because “It’s amazing what you can find out by asking…”
Larry Basinait is ASI’s executive director of research services.
Filed under: Community, Members, News About ASI
It’s almost too easy to use superlatives when describing a company’s top players. After all, they reached the apex because they’re the best at what they do. The men and women on this year’s Counselor Power 50 list – announced last night at the ASI Power Summit – truly deserve every accolade. Each one is an industry ace.
This year, in recognition of the biggest industry news story of the year – BIC’s acquisition of Norwood – the No. 1 spot honors both Nicolas Paillot, general manager of BIC Group (asi/40480), and Paul Lage, president of Norwood Promotional Products.
The other top-ranked executives in the 2009 Counselor Power 50 ranking include:
- Marty Lott, president of SanMar (asi/84863)
- Greg Muzzillo and Vera Muzzillo, co-CEOs of Proforma (asi/300094)
- Marc Simon, CEO of Halo/Lee Wayne (asi/356000)
- Gene Geiger and Jo-an Lantz, CEO and executive vice president, respectively, of Geiger (asi/202900)
I’m also happy to say that there are 14 newcomers, including Derek Block, CEO of Touchstone (asi/345631); Maribeth Sandford, CEO of Bag Makers (asi/37940); and Anthony Corsano, CEO of Anvil (asi/36350).
What I like best is the democracy of the voting system. While the exact ranking is determined by Counselor editorial experts, they rely heavily on the survey sent to all of you, asking which names go on or off and which names move up or down. They also carefully consider each nominees’ achievements and the state of their business.
For the complete Counselor Power 50 ranking, visit asicentral.com/power50. To view photos from the 2009 ASI Power Summit, click here.
What did you think of this year’s list? Post a comment or email me here. I’m also on Twitter and LinkedIn.
Filed under: Community, Education, Industry Initiatives, Members, Research
Everyone gathered at the 2009 Power Summit in California has seen, heard and learned a lot already at numerous sessions, speeches and networking opportunities.
Click here for a video outlining these key insights from our sessions:
- Exclusive session with economics expert Roger Farmer. This last year was really about a lack of confidence, which means companies lacked any real decision-making about purchases. Going forward, inflation is possible, which would affect prices of raw goods from China. But, as jobs start to recover, wages will go higher. He predicts it’ll take about five years for unemployment to drop back down from 10% to about 5-6%.
- What’s working and what’s not. Executives in this session said communication was most important right now, with clients and employees alike. Have a baseline plan that outlines how to get more revenue and how to cut costs appropriately. And just because the economy is down doesn’t mean you shouldn’t recognize and reward your staff.
- U.S.-made products versus importing. Know where your products come from. If clients ask you where the product was made, you need to know, and you need to know if it’s safe. Interestingly, price is not the sole factor in a purchase. Safety and the manufacturing source are very important.
Click here for the video.
What are your thoughts? Post a comment or email me here. I’m also on Twitter and LinkedIn.