Anyone who has worked in the field of marketing is aware of the power of the word "FREE". People love to get something for nothing. It triggers an emotional response that makes them say, "why not, it's free!" It also makes people believe that the worth of the gift to be much higher than it really is. Marketers rely on free business giveaways to win new customers, boost sales, and create goodwill. Here are five reasons why you should include business giveaways in marketing strategies. Consumers Feel Obligated to PurchasePotential customers are psychologically stressed by giving away free giveaways if they aren't buying something. This is the reason why events that promote your brand such as Free Comic Book Day or giving the first donuts free are big money makers. This principle is called the Law of Reciprocity and could be attributed for the success of giveaways. You get free publicity It doesn't take much for word of mouth to be spread through social media. If your business is giving away freebies, people will notice and want in on the action. Sometimes, the marketing campaign you organize will get more publicity than the giveaways. When GM donated 300 of their new Pontiac G6s and gave them to the Oprah Winfrey show, it put them under the spotlight. This brought attention to the brand new car on television, radio, and online and improved their image. Cost of Sales Exceed the cost of giveaways Although it may sound absurd It's true that giving customers freebies can make you more money. Businesses are often reluctant to implement giveaways for their business because they are afraid that it will negatively affect their bottom line. Giveaways that are free have been proven to increase sales. When people were drinking their free product samples, they purchased bigger bottles of their favorite flavours. 7-Eleven also made profits by replenishing their stock of other products. They can be used as samples for brand new products Many people may not want to test a new product at the time it's released. They fear that if they're disappointed and don't like it, they'll be wasting their money. If something is free, the majority of people will test anything. Therefore, if you give them a free stuff offer, they're likely to give it a try and, if they are satisfied, they will pay for it. These giveaways can be targeted at businesses who are likely to purchase. This allows businesses to prove they have a unique product and provide a pleasant customer experience. Many gyms and hobby classes offer the option of a trial session for the same reason. They help create positive brand associations. When people get a giveaway they feel loved and they are delighted. They will be able to remember your brand each time they take advantage of the prize. They remember how special your brand made them feel and leave a positive impression. This is the way that many businesses create loyalty to their customers. Browse through our vast selection of promotional products and select a business giveaway that fits your budget and requirements. Get in touch with us to discover the ideal promotional product for your brand.
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February 2023
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