Branded Promotional Items
When it comes to incentives and rewards what works best – branded promotional items or money off vouchers? Well what has to be considered above everything else are the tax implications. Off course Her Majesty’s Inland Revenue publishes guidelines on how to reward employees and the tax implications of any Benefits in Kind (BiKs) and money incentives. Whilst employees are allowed up to a certain value of incentives each year within their tax bands, including I hasten to add a Christmas party, above their relative bands tax must be paid. This essentially is one of the primary problems with a money off voucher or high street incentive. The other is that they can be ‘one-hit’ wonders. When they are spent or experienced they are gone and with time, forgotten. Off course the same cannot be said about branded promotional items. Firstly, one of the primary advantages of promotional items and branded goods is that they have longevity. Promotional pens, mugs and mouse mats get used every working day and ensure that your brand is clearly and regularly seen. Furthermore as incentives and rewards they can be more personal and selected to suit the strategy behind the promotion. So when it comes to a choice between promotional goods and money vouchers, merchandise always wins. As a marketing and promotions vehicle, branded promotional items are unique.
