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New Zealand's economy is currently facing a range of challenges, with the latest figures from Statistics NZ showing a period of slowed growth. According to the latest data from the Reserve Bank, New Zealand's GDP growth has slowed to 1.2% in the last year, a stark contrast to the more robust figures seen in recent years. Inflation remains high at 6.3%, and the cost of living continues to put pressure on businesses and consumers alike. Despite these challenging times, one thing remains clear: marketing and brand visibility have never been more important.

For businesses looking to maintain or grow their market share, staying visible and top-of-mind is key. While the temptation during a downturn may be to cut back on marketing costs, this is often a mistake. Instead, businesses should focus on strategic, cost-effective ways to keep their brand in front of customers. This is where promotional products come into play.

The Role of Marketing in an Economic Downturn

Marketing is a tool that can help businesses adapt, evolve, and maintain consumer trust during tough economic times. In a downturn, people become more selective with their spending. They still need products or services, but they are far more conscious of where they spend their money. This is why brand awareness and customer loyalty are more critical than ever.

Promotional products are a powerful tool to build both.

Promotional Products: A Cost-Effective Strategy

Promotional products, such as branded pens, tote bags, or custom mugs, are an excellent way to keep your brand in front of both current and potential customers. When times are tight, many companies may reduce their advertising budgets. However, studies show that promotional products are one of the most cost-effective forms of marketing.

Research from the Promotional Products Association International (PPAI) has shown that 82% of people can recall the branding on a promotional product they received in the last two years, and 83% like receiving them. More importantly, nearly 50% of people make a purchase after receiving a promotional product. This makes them a key strategy to stay relevant and top of mind with your audience.

Brand Awareness and Customer Loyalty: Why It Matters

During tough economic times, businesses need to focus on brand awareness and building customer loyalty. This ensures that when customers are ready to buy, they think of you first. Promotional products help with both by keeping your brand visible, even when consumers are not actively shopping. They serve as constant reminders of your products and services, creating a connection that can lead to future sales.

Brand Awareness: Customers are more likely to remember your business when they see your branded products around them—whether it’s a branded water bottle at the gym, a pen on their desk, or a tote bag they use for grocery shopping. Each time they use your product, they are reminded of your brand.

Customer Loyalty: Promotional products also help with customer loyalty by showing appreciation. In a time when consumers may be feeling financially stressed, receiving a thoughtful branded gift can foster a sense of goodwill, making them more likely to return when they are ready to purchase again.

How Tell and Sell Can Help

If you’re looking to leverage promotional products in your marketing strategy, Tell and Sell is a trusted supplier of promotional products in New Zealand. They specialize in providing a wide range of high-quality, customizable items that can help businesses enhance their brand awareness, improve customer loyalty, and make a lasting impression.

From eco-friendly giveaways to corporate gifts, Tell and Sell offers a variety of products to suit different business needs. Whether you want to target a specific demographic or increase engagement at an event, Tell and Sell’s vast product range can support your marketing goals even during a downturn.

In Summary

Although the current economic climate in New Zealand presents challenges, it also offers opportunities for businesses to reinforce their marketing efforts and strengthen relationships with customers. Marketing through promotional products is a highly effective and affordable way to maintain brand visibility, encourage customer loyalty, and keep your business relevant during a downturn.

By partnering with a reliable supplier like Tell and Sell, businesses can create meaningful interactions with their customers, turning challenges into opportunities for growth. Remember, it’s not always about cutting costs during tough times, but about being strategic in how you maintain your presence and nurture loyalty.

When things feel uncertain, let promotional products work as a constant reminder of your brand—because the best time to build loyalty is when customers need it most.

Interested in promotional products for your business in New Zealand? Check out Tell and Sell for a variety of custom products that can elevate your brand, even during the toughest of times.