Effective Usage of Promotional Products in Your Business

The promotional products have been in the use for a long time and business vendors right from 19th century keep using them. These products are given away as complimentary objects during a sale or a promotional meeting. The important idea is to cross sell the business services and products. The free gifts will keep the common masses reminded about the company and its associated products whenever people use the free product. Every individual is ready to receive any kind of free products. This offers plentiful opportunities to expand the business empire with less amount of investment.

Benefits of Promotional Products:

There are no restrictions in the usage of these products. The product list is endless and almost any product can be used. Can you think of using a cap or a key chain as promotional product to advertise your product? They can be used extensively as these products are widely used by the masses. This frequent usage will improve the visibility of the brand services and products. Hence, the memories about the companies will stay fresh in the minds of the common masses. This gives a whip hand to the business owners during the advertisements in large television media and news print media.

Financial Aspects:

The most important advantage is the financial benefits that are obtained by the usage of promotional products. Hundreds of caps can be bought for a price of $XX dollars and it is very easy to customize the caps. The cost of customization does not go beyond $1 or $2 per cap. Hence the total cost will still not exceed the price cap of few $XX. However, a single advertisement in the television channel or a paper advertisement would cost around hundreds of dollars and this is only for a single day. However, the entire budget of promotional products can be fit into the pockets of business owners without having to feel the pinch of advertising.

Who Can Choose?

Small and medium sized business enterprise owners are the most suitable candidates to choose this form of advertising. However, bigger corporations are still investing a small chunk of money in this form of marketing as they know the importance and value of these services. Word of mouth form of advertising can bring in good amount of returns to the business owners. It is the least expensive way of marketing a product. The business owners always have the advantages in using these products to promote their brands.

Act Fast!

So, are you convinced with the benefits and advantages of using promotional products? It is also important to choose the products accordingly. It is good to stick to simple products that are not perishable and still has wider acceptability. The usage of such products should not be restricted to a set of audience and it should have a longer life expectancy. Have all these points in your mind when you select a promotional product to advertise your services and brand products.

Indians splurge on foreign travel, business services

These payments were “invisibles” in RBI books. Indians spent 70% more in 2004-05 on travel abroad and on sourcing foreign transport, engineering, constancy and distribution services to cope with growing business needs. Also, India’s external sector current account slipped into a deficit of $6.4 billion in 2004-05 after a three-year span of continuous surpluses, preliminary RBI data showed. Non-capital receipts from abroad exceeded payments made overseas by $10.5 billion in the current account in 2003-04. Significantly, as more and more Indians travel abroad and Indian businesses avail of foreign services, payments on these counts are increasing sharply. These payments, categorised as “invisibles”, rose sharply last fiscal to touch $45.8 billion.automobile manufacturer India’s strength in its external sector in recent years has been “invisibles.” Invisible receipts due to foreign tourists coming to India, Indian workers sending in remittances and exports of services, especially computer software, have been robust and have provided a surplus over invisible payments. In 2004-05 too, invisible receipts were in surplus by about $31.6 billion. But the growth in invisible payments at 70% in 2004-05 was much stronger than the 48% growth in invisible receipts, thereby opening up the possibility of the invisible account getting into the red in coming years.list of automobile manufacturers As such the trade account, representing merchandise exports and imports, went deep into the red in 2004-05, showing the deficit at a historic high of $38.1 billion. But for the surplus in the invisibles, India’s current account gap would have been much larger than a modest $6.4 billion. But if invisible payments continue to grow faster that invisible receipts, the possibility of a deficit in the coming years cannot be ruled out. Huge net capital inflows in 2004-05 amounting to $32.5 billion meant that India could easily negotiate the modest current account deficit of $6.4 billion and yet add over $26.1 billion to its forex kitty.indian automobile manufacturers The viability of India’s external balance of payments would, therefore, depend on invisible surpluses and net capital inflows. The good news is that in 2004-05, receipts grew by 25% from international tourist traffic to India. Private transfers, comprising primarily remittances from Indians working abroad, remained sizeable at $20.9 billion. IT services exports too were buoyant, touching $17.3 billion.

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