October 16, 2014
It’s here: ASI’s groundbreaking global research report packed with stats and graphics to help you convince customers to spend more of their marketing moolah on promo products.
Click here for a quick, catchy YouTube video on the study and here to ASI’s 2014 Global Advertising Specialties Impressions Study in its entirety.You’ll also find easy-to-understand graphics to save and share. I encourage you to post the video and the study link (www.asicentral.com/study) on your own business website to further spread the word about the incredible power of promo products.
The strongest number to tout is promo products’ commanding advertiser recall among 85% of consumers surveyed. People really remember the advertiser on logoed items, largely because they see or use them nearly every day. In fact, most people own about 10 items they generally keep for seven months.
Can you remember a single advertiser from the last time you watched TV? I’m betting you can’t. Perform this simple test on your next potential customer and you just might score a sale.
ASI conducted its first comprehensive research study in 2006. In a nod to our increasingly global marketplace, this year’s study contains far greater global reach, and features several differences worth noting. For the first time we:
This year’s data updates prior years’ reports by expanding interviews into two cities in Mexico (Monterrey and Mexico City) and several additional mid-major markets: Tampa, Charlotte, Minneapolis, Denver and San Diego.
Through conversations with real people who get, use and share ad specialties, we gauged the reach of products, consumer’s perceptions, their influence on buying decisions and their influence on the perception of the advertiser.
After thousands of interviews with businesspeople and students in key cities across North America, Canada, Europe and Australia we can say with certainty that ad specialties are one of the most high-impact, cost-effective advertising mediums around.
And, since knowing the likely recipient of products is paramount for an advertiser, we made sure to include demographic information broken down by political affiliation, ethnicity, gender, age and income.
What’s most impressive is that no matter where we polled consumers, we found end-buyers who feel good about the brands on promo products they use day in and day out. When’s the last time an annoying TV or radio commercial made you feel good? I rest my case!
Another conclusion that resonated with me: First and foremost, consumers want products that are useful, like pens and USB drives. In Canada, 82% of consumers polled said that’s why they kept branded items, the highest percentage of any country.
The study is a living document that’s meant to be used – not scanned once and forgotten. It’s powerful data you can, and should, refer to again and again. Cherry-pick graphics that work best for your business and post them, share them and pass them out on sales calls.
September 17, 2014
A major theme of this year’s U.S. Power Summit was helping prepare the promotional products industry for the future. The keynote speaker, Forbes publisher Rich Karlgaard, advised business leaders committed to growth to hire more people who can deliver different solutions to the organization, while futurist John Smart encouraged companies to invest in e-commerce and mobile platforms.
And since suppliers and distributors must be prepared to meet the ever-growing demand for faster service and order processing, we also invited industry experts to discuss the “need for speed” during a session highlighted by an actual drone demo. While flying drones (pictured, right) are really cool, our bigger point in bringing them to the power summit was to get industry people to start thinking about ways they can be utilized in in areas like warehouse inventory and Amazon-like delivery.
This year, the 2014 ASI® Power Summit in Scottsdale, Arizona, attracted about 200 of the most influential distributors, suppliers and decorators in the industry. From the early feedback I’ve gotten, everyone enjoyed the superior content and business discussions, which were helped along during fun activities like golf and a visit to a nearby ranch for lassoing and skeet shooting. The fine scotch helped too, I’m sure.
Click here for Facebook photos of the action.
We packed a lot into three days. During my Q&A with alphabroder CEO Norman Hullinger, we even broke some news about his plans to double the size of the company in the next five years – and for sales to hit $1.6 billion. In 2013, the number-one supplier on the Counselor® Top 40 list posted sales of $697 million.
Future growth for alphabroder will come from acquisitions and organic growth, especially growth in ad specialty distributorships. But the really big news from alphabroder concerned expanding beyond apparel to a line of hard goods – an expansion that will likely come about through acquisitions as well as internally.
Throughout the power summit, ASI’s editorial staffers provided full coverage of happenings along with video interviews from all major presentations. To read more:
When I say we packed a lot into this year’s U.S. Power Summit, I mean we packed a lot into this gathering. We also released the names of the industry’s most powerful people with the 2014 Counselor Power 50 list. Click here to read our press release with more detail and click here for the full list, topped by Marty Lott and Jeremy Lott of SanMar.
Finally, we also released the 2014 Global Advertising Impressions Study, a cost analysis of promotional products versus other advertising media. For the study, our research team conducted thousands of in-person interviews with businesspeople and students in key cities across North America, Canada, Europe and Australia. This year’s data updates prior years’ reports by expanding interviews into two cities in Mexico (Monterrey and Mexico City) and several additional mid-major markets: Tampa, Charlotte, Minneapolis, Denver and San Diego.
Ultimately, the comprehensive study provides buyers and sellers of promo products with powerful data to convince clients worldwide that ad specialties can increase sales and brand exposure.
If you were at the Power Summit, thanks for joining us! I’d love to know what you thought – and any suggestions you may have for next year’s event, which we’re already planning at the St. Regis Monarch Beach Resort in Dana Point, CA in November 2015 (www.asicentral.com/psreg).
August 6, 2014
To most people, summer means family road trips, zeppelin-sized zucchini, backyard barbecues and lightning bugs. Here at ASI, summer means all that and more, since summer is when we produce our annual State of the Industry report.
While it doesn’t yet come with a free umbrella drink, Counselor magazine’s industry MRI does pack a ton of info designed to help any sized company plan strategically for the future, grow their business, streamline operations and tap new and emerging markets.
If you haven’t read the issue yet (available in print and online at www.asicentral.com/soi), take a hard copy with you to the beach or check it out electronically on your device. ASI editorial staffers spent months gathering and analyzing key sales, marketing and operational metrics used by most of you to provide useable info tailor-made for our industry. The accompanying graphics also provide valuable snapshots of what’s up, down and trending.
Click here to read the report in its entirety.
As a whole, 2013 was a good year, with distributors growing sales by 5.7% to reach a record $20.5 billion. The 40 largest distributor companies in the market hit nearly $4.4 billion in sales, accounting for 21.5% of total industry revenues.
It seems that the top 40 suppliers and distributors are exerting growing influence over the marketplace. Counselor’s editor, Andy Cohen, goes so far as to predict apparel suppliers will continue to consolidate and large distributors will create unique partnerships the likes of which the industry hasn’t seen before. As Andy says, “If you can’t beat competitors, join ’em!”
But there’s still room for nimble and innovative distributors and suppliers of all sizes, and obviously our industry is an exciting place for everyone.
The data also shows the profit pressure distributors face and customer trends that include more price shopping, more interest in additional services and more safety and compliance inquiries.
Our predictions for the industry’s future? While product staples like T-shirts and pens will remain strong, sales of branded technology items like USB cards should increase dramatically in the near future as more millennials enter the workforce. The average order time for suppliers will significantly decrease in today’s “need it now” marketplace, and 90% of the top 40 apparel suppliers will offer in-house decoration in five years.
In addition to winning tips and tactics and growth strategies, the SOI issue profiles the 2014 Counselor Award winners – including Person of the Year Norman Hullinger – and includes revenue and ranking of Top 40 distributor and supplier companies.
I’d love to know what you thought of this year’s issue and if there’s a topic, trend or strategy we might have missed or not given enough attention to, so please either post a comment or email me here. I’m also on Twitter and LinkedIn.
May 7, 2014
With the U.S. reporting modest economic gains and a European recovery finally taking hold, the most recent ASI North American sales report on the promotional products industry also shows renewed reason for optimism. First quarter distributor sales were up 6.4% over Q1 2013 sales. And Q1 supplier sales grew 4.8% over Q1 2013, below the growth rate of the last two quarters, but similar to the first two quarters of 2013.
It’s great to report the year is off to a strong start, with more than half of North American distributors reporting a year-over-year increase in sales and only about one in five reporting a decline. Historically, Q2 growth numbers have declined from Q1 numbers in each of the last three years, and it’ll be interesting to see if this trend continues.
On the supplier side, more than half told ASI they enjoyed a year-over-year increase (Q1 2014 vs. Q1 2013) in sales, with about 21% reporting a decline.
Nationwide, April was the best month for job growth in a while, and the unemployment rate fell to 6.3%. Wages, however, remained flat, and it doesn’t look like the hoped-for hike in the federal minimum wage is going anywhere anytime soon. A new report by the Economic Policy Institute in Washington offered some pretty dire predictions: it may take the economy nine years to recoup the jobs lost during the recession, plus those needed to employ new workers during the slow recovery.
The International Monetary Fund (IMF) expects growth in Asia to remain steady at 5.4% this year. Last year, the region – home to 60% of the world’s population – grew 5.2%. I just returned from a long trip to China and Hong Kong, where ASI has a half dozen independent reps working to sell SGR memberships and marketing and to help manufacturers there connect with North American suppliers. In the spirit of the ongoing fusion of the global economy, ASI also has one rep working in India reporting contacts who are very interested in ASI suppliers and services.
While things are finally picking up in Europe, according to Reuters, numerous factors could still affect the economy, including ever-broiling tensions with Russia, a prolonged period of low inflation and an unwillingness by European member governments to continue reforms. On the good news front, deficits are down, investment is up and, although unemployment remains around 10%, more Europeans are finding jobs.
March 7, 2014
Each year, ASI conducts the most comprehensive and important research about our industry to create the Counselor State of the Industry report. But we can’t do it without you.
All we ask is that you take 10 minutes to complete a survey, and you’ll be entered to win a sweepstakes for a $250 Visa gift card. The survey ends April 4. If you’re a distributor, click here to take the survey. Suppliers, please click here.
It’s important because your info leads to the in-depth reporting conducted each year by the Counselor team on key sales, marketing and operational metrics used every day by industry practitioners. Nowhere else do you get the scope of this detailed information about our industry. And it’s free to ASI members.
The SOI report, which comes out in print and online each summer, is considered the most influential in the industry – and for good reason. It’s a definitive analysis of this industry’s most recent past as well as a roadmap to the future.
With your responses, we’re able to help you grow your business by revealing critical information such as:
Once Counselor’s SOI issue comes out, read it cover-to-cover and cherry-pick the stats and info most useful to your business. And be sure to read the growth strategies that are working wonders for industry leaders – and put them to work for you.
Along with tons of sales-generating ideas, this year’s report analyzes 2013 sales to determine the biggest markets and most popular products.
Remember: The 10 minutes you invest in taking the survey today will pay off in dividends come summer. Thanks for your help – and great luck winning the gift card!
November 21, 2013
Thanks to strong Q3 results, distributor and supplier sales in the promotional products industry have now risen for 15 straight quarters, which is solid proof that companies big and small continue to buy what we’re selling: The enduring power of promotional products.
These days, ideas and innovations are what make the world go ’round. Bloomberg Businessweek says we need look no further than Twitter’s $24.9 billion valuation as evidence we’ve officially entered the “ideas economy.” Lucky for us, ideas and innovations are at the heart of this industry, where new products coupled with inventive branding can hit the market – and seize the imagination – faster than ever before.
If we capitalize on innovation, as Bloomberg suggests, our industry will continue to grow. This year alone, if ASI’s indicators are correct, total sales will surpass $20 billion. I know that anything – a political coup in a far-off land or even a devastating weather event – can cause unexpected economic havoc, but I’m pretty comfortable in our predictions.
What’s your take on 2014? ASI’s Counselor magazine recently asked Power 50 members if their companies would hire additional staff in the next year and 63% said they would. I take that as a strong indication of overall industry health. Is your company hiring? Are your clients spending more? Are you?
As Dan Taylor, president of BamBams (asi/38228), which increased sales by 8.5% this year, told ASI: “I think the value factor of promotional products in the marketing space has contributed to this growth. Companies are working hard to expand, so there is a need for advertising in the marketplace.”
Today, promotional products are used by virtually every business and major brand in America, and for good reason: They work! For proof, you need look no further than ASI’s most recent global advertising specialties impressions study, highlighted by tons of easy-to-share stats on everything from the impressive CPI to strong advertiser recall.
It’s clear we have the right products and the right message at the right time. So ask yourself this: What will you be selling in 2014? Products? Or ideas?
September 19, 2013
This year’s ASI Power Summit in Park City, Utah, had it all: Breaking news, early morning inspiration, late-night camaraderie, tons of expert advice, incredible views and great golf and mountain biking.
Memorable moments included losing power within a 50-mile radius of the resort during the very last panel with members of the 2013 Counselor Power 50. Undeterred, we powered on, first using the light from moderator Matthew Cohn’s iPad to light up the speakers on stage and eventually by relying on several other iPad lights along with lanterns from the hotel. Not a single person left the room and every question got answered. I think there’s an Apple commercial in this!
Here are a few of my other personal highlights:
And don’t forget to check out ASI’s Facebook page, for pics by Jake (@Phillyspread).
The whole point of smaller, more intimate get-togethers like the Power Summit is for people to learn from each other, make new contacts and deepen friendships with people they already know (or think they know). So I’d like to thank everyone who joined us, and each and every speaker and panelist. Quality ruled!
Throughout the summit I was thrilled. But I was also saddened to hear a young sales star – who sells several million dollars in promo products a year – say he doesn’t think our industry is sexy and that he never tells friends what he does for a living.
In my final address to the Power Summit attendees I shared that story – and really let loose in response. I told our audience I’ve been excited by the industry since the day I started nearly 11 years ago. I’m proud of what I do and of the incredible ROI promotional products provide. Every day, I’m amazed by the continual creativity of our products and the talented people in our industry. I can’t imagine having more fun anywhere else.