27 Oct Hoard Marketing Syndrome (HMS)
There is a serious illness sweeping across the nation which has risen to near-epidemic proportion in the U.S. at many companies. No businesses are immune, whether large or small. Those that are most susceptible are not the elderly and children, but those who are directly involved in marketing. This condition actually seems to specifically target marketing directors. This ailment can cause some serious problems to your marketing campaigns and ultimately to the overall demise of your business. This condition is known as Hoard Marketing Syndrome (HMS). Read on to see if you or someone you know suffers from HMS. Treatment is available, so there is hope.
If you search the word, "hoard" on Google, it shows the definition to be this: noun: "a stock or store of money or valued objects, typically one that is secret or carefully guarded" or as a verb: amass (money or valued objects) and hide or store away."
With Hoard Marketing Syndrome, business owners and marketing personnel take this same approach of hoarding, but specifically with their promotional items. Below you will see some of the signs and symptoms, risk factors, complications, and treatment for HMS.
Signs & Symptoms
- Boxes in the storage closet full of promotional items from years ago.
- An overall abundance of leftover giveaways that were purchased over 6 months ago.
- A desire to be stingy when giving out the "really cool" or "valuable" promos. These tend to be the more expensive items, such as padfolios, premium pens, and other items priced over $5 each.
- The mindset that you need to hang on to these purchased promotional products because they cost a lot of money and need to be used only for special occasions.
- Company history of limited marketing budgets.
- Recent or impending budget cuts.
- Marketing directories who have a boss who rarely approves marketing expenditures.
- Business owners who fail to understand that marketing items are critical for the success of a business.
- Significantly reduced marketing exposure.
- Reduced loyalty from existing and past customers.
- Drop in sales.
- Reduction in number of clients.
- Unhealthy bottom line.
- Business failure.
- One on one counseling with one of our HMS specialists.
- Track the effectiveness of your giveaways so that you can see your Return On Investment (ROI) from your purchase.
- Practice giving out company branded items to each new customer.
- Give out promotional items to each new prospect and with each new quote.
- Practice micro-hoarding - Hold back (hoard) 2 or 3 of these items and give away the rest to customers and potential customers.
- Create a written strategy for your branded giveaways so you and everyone on your staff know the protocol so your company can make the most effective use out of the items.
- Give away specific items to targeted prospects or clients so the giveaways will be more effective and more well-received.
- Reach out to past clients who haven't ordered in a while and send them a promotional item from your company to help rekindle a business relationship.
- Make sure your monthly marketing budget has a set amount earmarked specifically for promotional items.
If you feel that you have been affected by HMS, we encourage you to seek help. Call one of our HMS counselors immediately. Remember, this condition is 100% treatable and 100% reversible. Our HMS counselors are standing by. Call toll-free: 1-800-773-9472.