Providing giveaways has long been a popular marketing strategy. Some businesses are worried about giving things away for free because of the cost involved, and there is also the fear that some people will only be interested in the freebie.
You may also have fears that it will somehow devalue your product. However, it does work, especially for building brand recognition—and there are many options you can consider.
Why Does Giveaway Marketing Work?
There are many reasons why giveaway marketing can be successful. One of these is related to the issue of reciprocity. This essentially means that when you give something away for free, recipients are more likely to want to do something for you in return—like buying your product or service.
When you give away your own products for free, this also displays confidence in them. You are essentially saying that you are so sure people will like your products that you are prepared to give them away for free, and this can build confidence in your brand.
When something comes with a free trial or free sample, there is nothing stopping potential customers from giving it a go. There is no risk for them, and free trials can help you to convert prospects who might otherwise have walked away.
And when you are giving away other products rather than your own, it can help to build goodwill towards your brand.
So how can you go about implementing a successful giveaway marketing strategy?
Give Away Your Own Product
Many providers of online tools and software allow users to use them for free for a month. Netflix does the same, and the idea is that it encourages people to at least try it out risk free. There is no risk involved, and the company is hoping that users will then find the product indispensable and continue to use it.
Many people don’t want to invest in a high-value product without knowing first whether they will really need it or will even use it. They might simply go away and not try the product, so it is better to capture them in the moment and get them to try it out.
You can do the same with your products. This will show confidence in your product, and you will capture more potential customers who might turn into long-term customers.
Give Away Branded Products
Using your company logo or name on a low-cost giveaway product is another popular way to make use of giveaway marketing. This could be inexpensive items like pens, stationery, bags, folders, or anything else. You could use cheap items, or you could use more quality products—it depends on your market and your budget (check out some ideas for giveaways provided by Inc).
This is a popular tactic at trade shows. When you go to trade shows, you want to stand out and advertise your presence. A good giveaway is an excellent way to do this. Bags are always useful at trade shows, and they will display your name and logo to other people to promote your brand further. Be creative and do something different to stand out, or give away samples of your own product.
Corporate Event Giveaways
Corporate events are another great opportunity to provide giveaways. At these events, you want your guests to feel special, and it is all about building goodwill. So make sure you provide freebies that will make your guests feel good. Things like high-quality chocolates from somewhere like martinschocolatier.co.uk could go down very well, so have a think about some free gift ideas that will make sure your guests go home happy.
Giveaways Work, So Try Them Yourself
Giveaways can be an effective way to get more customers, improve your brand image, increase trust in your brand, and more. Think carefully about the options available to you when it comes to giveaway marketing, and start using this tactic to enjoy the many potential benefits.
Philip Ahn is a Chocolatier based in Nottingham UK. He Specialises in manufacturing chocolate bars such as pralines, truffles and marzipan for companies under ‘private label, own brand’. Martin is privileged to be working with some of the biggest and smallest names in the industry. He enjoys sharing his ideas and insights online.