The Power of Perceived Value
May 22, 2021
In marketing terminology, perceived value is what consumers think a product is worth to them. Outside factors like personal memories or associations, celebrity endorsements, resemblance to a higher cost item, and more can all influence a customer's perceived value of an object. Businesses and organizations can use their customers' perception of items to their advantage, crafting promotions that wow without busting the budget.
One of the things that make promotional products so effective as a part of a marketing strategy is that they often have a very high perceived value, especially compared to the actual cost of the items. As a bonus, promotional items are available in a wide array of colors, allowing brands to coordinate with their corporate colors. By choosing a product with high perceived value to your customers, you can give them something they will genuinely enjoy and use, giving your brand plenty of face time with the people who matter the most to your business!
Here are a few of our favorite promotional products that deliver a high perceived value without a high cost:
Hydroflasks are all the rage right now among hydration enthusiasts. Thanks to an insulated stainless steel body that keeps drinks hot or cold all day and a convenient carrying loop, it's no surprise that these water bottles have sustained their popularity.
With these shockingly similar stainless steel bottles, you can give your customers and prospects a Hydroflask-esque gift at less than a quarter of the price. The 32 Oz. Stainless Steel Vacuum Insulated Bottle rings in at under $10 per piece with your branding featured prominently on the front instead of Hydroflask's $50 per plain black bottle.
Luxury backpacks are like status symbols in certain circles. Kanken backpacks have seen a burst in popularity over the past several years, reaching a cult-like fervor among the most enthusiastic bag fans. With this adorable mini backpack, you can emulate a popular brand's high value at a fraction of the cost.
Items like jackets, shirts, and more are another category of product that can often have a very high perceived value. Items resembling popular higher-end brands like Lululemon, Eddie Bauer, and similar can deliver a high-value punch without a high budget. For example, this rain jacket is reminiscent of popular styles from Eddie Bauer but can be branded with your organization's logo for significantly less than the name-brand option.
By choosing products that appear much more expensive and valuable than they actually are, you can make your brand appear more valuable as well. Harnessing the power of perception is an excellent way to drive your promotion's value without breaking the bank.
Curious about what other high-perceived value promotions we can offer? Contact us today to learn more!