The State of Promotional Products in Banking and Credit Unions

Reading Time: 5 minutes

Executive Summary

This white paper captures insights from marketing leaders at banks and credit unions and represents candid, firsthand feedback gathered through one-on-one interviews.

Participants received a sample box of selected products and were asked to provide feedback on each item as well as their approach to promotional products. All responses have been anonymized.

The recurring message we heard is that the role of branded items is evolving; they must be more than a space for a logo.

• Institutions want more than giveaways that get discarded; they are looking for items that are useful, intentional, and reflect their brand.
• Items should strengthen relationships, reinforce brand perception, and provide functional value.
• Institutions are rethinking the balance between quality, cost, and usefulness, and they are evaluating the success of their promotional products by:
  • Perceived value and quality
  • Longevity of use
  • Audience response
  • Cost-to-impact

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The State of Promotional Products

According to a 2023 ASI (Advertising Specialty Institute) report, 85% of consumers can recall the advertiser on a promotional product they received. Studies also show that useful products are kept for an average of eight months, meaning they generate repeated brand impressions. This reinforces the idea that practical, well-chosen products provide a better long-term return on investment than trendy, low-cost alternatives.

• From swag to strategy: Items are now brand-building tools, not just giveaways.
• Less is more: Fewer items are being distributed, with a greater focus on quality and usefulness.
• Perceived value drives impact: High-quality, well-designed products can elevate a brand’s image, even when unit costs remain modest.

A simple mug or hat, if chosen with intention, can outlast a billboard or a social media advertisement in terms of brand impressions. When these items become part of someone’s daily routine, the institution’s name stays top of mind far longer than the day they were distributed.

Key Industry Takeaways

Product Quality & Appeal

Participants remarked that products with a premium look can deliver impact even at lower price points, while items at a higher price point that are seen as cheap undermine the brand.

• Quality matters: Respondents consistently preferred durable, practical items (backpacks, power banks, premium drinkware, bento box).
• Low-value items struggle: The plastic water bottle included in the sample box, with its small opening, was often noted as having low utility and being outdated.

Price Points by Use Case

Use cases were the primary driver of how much participants were willing to spend on promotional products. Participants divided their needs into six major buckets with varying price points:

1. Mass Giveaways (Events/Community Outreach): $2–10 – Target range when handing out hundreds of items at an event where engagement with employees will be low.
2. Account Acquisition Campaigns: $40-200 – For account acquisition, participants reported a wide price range depending on account type and potential ROI.
3. Business Client Gifts: $20–50 – Small number of high-end items. Participants leaned more toward locally sourced gifts for this category.
4. Employee Apparel: $10–80 – Apparel also had a broad price range, because of different types (i.e., t-shirts, polos, button-downs, etc.). A common frustration with institutions was the limited options they could offer employees through their current portal (i.e., Lands’ End, LL Bean). As more high-end brands enter the market (i.e., OGIO, Nike, Travis Mathews, Tommy Bahama, and Patagonia), participants requested employee stores that offer multiple price points, brands, and style options.
5. Executive/Board Gifts: $125-$300 for premium, prestige-oriented items.
6. Employee Recognition: $75–$200 – Participants showed a willingness to spend for unique, higher-quality items to show employee appreciation.

According to Deloitte’s 2022 Human Capital Trends report, employee recognition is directly linked to higher retention and satisfaction levels. Aligning promotional products with recognition strategies can therefore deliver not just brand visibility, but measurable human capital benefits.

Pricing must match purpose. Community events need approachable price points, while leadership and employee recognition can justify, a bigger investment. It is not about spending more across the board; it is about putting resources in the right places.

Product Wishlist Heading into the Fall

We asked participants what items were on their wishlist, specifically products they were interested in purchasing in the future. Leaders consistently asked for products with perceived value, sustainability, utility, and themed gift sets. The most requested samples were:

• Backpacks
• Power banks
• Drinkware
• Bento boxes
• Outdoor blankets
• Flashlights
• Golf accessories
• Etched tumblers
• Stadium seating
• Umbrellas
• Sunshades
• Tool Kits

Purchasing Priorities

Time proved to be more limiting than budget. Participants were often on tight deadlines and had requests from multiple departments. Institutions need quick, reliable access to products without hunting through endless catalogs.

• Top Decision Factors: Quality, cost-effectiveness, ease of ordering, and trusted vendor support.
• Ease of Ordering: Participants want curated selections, visibility into past orders, and streamlined logistics. Many institutions expressed frustration with clunky spreadsheets; they want curated products plus the ability to work with a representative who will help them curate options.
• “Less is More” Mindset: Fewer items, but higher quality, was the preferred approach.

Strategic Implications for Banks & Credit Unions

1. Shift From Swag to Strategy: Promotional products are moving from “freebies” to strategic marketing tools that can support branding, engagement, and loyalty.
2. Elevate Brand Perception: Thoughtful, high-quality products reinforce credibility and prestige.
3. Segment Your Strategy: Match product tiers to audience (consumers, employees, board).

Each promotional product should be a part of a bigger campaign, even if it looks like a single interaction. When chosen with intention, a product can embody the institution’s values, whether that is innovation, community, or tradition.

Product Feedback: Highs and Lows

One of our goals for the Sample Box is to share product feedback with the community. Here’s participants’ feedback on what worked, what was missed, and what to watch for.

Overall Positive Feedback

• Backpack: Widely praised for quality, comfort, and size. Seen as perfect for high-value gifting or employee recognition.
• Power Banks: Appreciated for multiple ports, customization, and practicality. Especially well-received when positioned for business clients.
• Premium Drinkware: Hydro Flask or YETI-style mugs were considered reliable, high-value, and always in demand.
• Packaging & Presentation: Clients noticed the professional presentation and unboxing experience, and inquired about doing similar features for their welcome kits.

Mixed Reactions

• Phone Stand/Charger and Bottle Opener: Durable, but many felt the $10 price was too high for wide distribution.
• Bento Box: Unique and trendy, often described as a conversation starter. Strong appeal for sustainability and practicality. However, multiple participants mentioned they were missing the close strap, making the product feel incomplete.

What to Watch Out For

• Plastic Water Bottles: Criticized as too small, hard to clean, and not dishwasher safe. Perceived as low value for the cost.
• Low-End Power Banks: Participants noted that other models they’ve used have failed to hold a charge and raised safety concerns.

Key Takeaway: Request samples! Choosing products is not just about quality, but also about usability and context. We recommend requesting samples before making a large purchase. Giving you and your team time to test a product thoroughly will ensure you’re getting a product that you’re proud of and that will represent the brand well.

Conclusion

Promotional products are no longer about bulk giveaways; they are a strategic extension of your brand. The right items can reinforce credibility, deepen loyalty, and spark meaningful connections with members and customers.

When looking for a promotional partner, the most important characteristics for participants were:

• Perceived Value: By blending design, curation, and logistics, each item should carry more meaning than its price tag suggests.
• Curated Portal: Reducing friction by offering portals with curated and easy-to-order products. Portals provide a single place to review past orders, pricing, and curated shops to share.
• Consultative Approach: Personalized selection of products based on clients’ budget, audience, and brand goals.
• Data-Driven Insights: Promotional campaigns that are tied to business objectives with lead reporting and ROI.
• Strategic Partnerships: Align promotional products with larger institutional initiatives, including employee culture, customer and member loyalty, and community engagement.

At The Element Group, we believe every promotional product should work as hard as your team does. From curated portals to consultative selection and data-driven insights, we help institutions move beyond “swag” and into strategy.