Anyone who has worked in the field of marketing knows the power of the word "FREE". People love to receive something for free. It creates an emotional reaction that compels them to say, "why not, it's free!" It also makes them believe the value of the product received to be much higher than what it actually is. This is why marketers depend on the power of business giveaways to attract new customers, increase more sales, and build goodwill. Here are 5 reasons why you should consider including free business giveaways into your marketing strategy: Consumers Feel Pressured to BuyPotential customers are psychologically stressed to give away free gifts if they aren't buying something. This is why promotions such as Free Comic Book Day or giving the first donuts no cost are major money-makers. This principle is known as the Law of Reciprocity and the success of giveaways for free could be due to it. You get free publicity It's not difficult for word of mouth to spread thanks to social media. People will be interested in the freebies you give away if you provide them. Sometimes, the buzz your campaign to promote your business will generate will far exceed the cost of the giveaways. When GM donated over 300 of their brand new Pontiac G6s and gave them to the Oprah Winfrey show they were put in the spotlight. The amount of TV, radio and internet publicity this gesture generated caused everyone talking about the new vehicle and boosted their image. The cost of sales exceeds the cost of giveaways It may sound crazy when someone says that you can earn more by giving away freebies to customers. Many businesses hesitate to employ giveaways for their business because they are afraid that they could negatively impact their financial results. The benefits of free giveaways have been proven to increase sales. People were taking pleasure in their free stuff as they sip on their drinks and eventually bought bigger bottles of their favorite flavours. 7-Eleven also made money by replenishing their inventory of other products. They can serve as samples to test new products If you introduce a new product, people may be hesitant to try it out. Some people might be unhappy if they do not like the product. Most people will try everything if it's for free. Therefore, if you give them an free stuff you are likely to give it a try and, if they're satisfied they'll pay for it. Businesses can focus on potential purchases by offering giveaways. This allows businesses to prove they offer a product that is unique and provide a pleasant customer experience. A lot of gyms and classes offer a trial or one-day pass for the same reason. They develop Positive Brand Association It is a feeling of pride for people when they win a prize. They'll remember your brand each time they participate in the giveaway. They will recall how wonderful your brand made their day and leave a lasting impression. This is how many companies build loyalty among their customers. Browse our extensive assortment of promotional products to find the perfect giveaway for your business. Or contact our team and we will help you find a promotional gift that's suitable for your business.
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November 2023
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