Who doesn’t like receiving gifts that costs absolutely nothing? In the world of business, handing out freebies is a genius yet risky move that can cost the company a large sum of money. Shoppers are drawn towards products, services or consultations where spending is noted to be minimum. With thousands of advertisements spread across the internet mentioning the word “Free” it attracts many people looking for a good bargain. Studies show that people have this psychological attraction to the word “Free” and in strict regards to business, this word has been used a lot to lure customers in.
Freebies can help boost sales of small businesses. Here’s how to.
Know your freebie purpose
Before planning what freebie to hand out to customers, set realistic goals for the reason behind this freebie giveaway. These could be a few of the things you wish to achieve from the freebie handouts:
Gaining more newsletter subscribers
Boost web traffic
To increase Facebook followers
Increase Brand awareness
To build trust in your product or service
Your freebie giveaway purpose can include one or all the reasons listed. Having these set expectations can help your company measure the success of the campaign and track it’s effectiveness.
Choosing the right freebie
Give freebies that are hard to throw away. You would want to make a lasting impression, and giving away a freebie that is easily forgettable isn’t ideal when it comes to leaving a memorable imprint on each customer through this campaign. “The best kind of freebies are those that will cost you little but delivers memorable results.” as quoted from quickbooks.intuit.com.
Go for something that is small and useful. Freebies does not necessarily mean the product you wish to introduce or gain awareness. It could be a small token from your company to your prospect consumers. In early 2014, a local company called Tickled Media hosted a press conference to release the results of a recent survey conducted. Those who attended received not only a hard copy of the survey report but each folder contained a USB with the company logo on it.
Here are a few good freebie ideas:
Promotional products (pens, bookmarks etc.)
Remember, when doubting the worth of this marketing strategy, most people don’t know the value of your product or serve until they’ve tried it.
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