Smart business owners know that building a successful business takes more than simply creating a product and putting a price sticker on it. Business owners also need to market their products effectively if they want people to purchase them. Giving away freebies is one marketing method that has several advantages.
1. Free Advertising
When companies give away free promotional items such as t-shirts or custom zipper pull buttons from Custom Button Co, the people who take and wear the items become walking billboards for the company wherever they go. People love getting freebies and will generally put your items to use at work or school where others can see your company logo.
2. Greater Social Media Engagement
When companies hold giveaways on social media sites, they quickly gather likes, shares and followers from people hoping to win whatever the company is giving away. This is important because people who engage on a company’s social media website are more likely to become regular customers in the future. They may also post positive comments or reviews on your page, which help bolster your image.
3. Increased Brand Recognition
When a company requires people to share their social media content with others in order to enter a giveaway, people tell their friends and family about the company and the company’s brand recognition grows. Plus, people are more likely to believe their friends and family over paid advertisements.
4. Increased Product Recognition
When a company gives one of their own products away, they expose their product not only to the contest winner but also to all the people the winner comes into contact with. If the product is shoes, for example, the winner’s friends might see the shoes, like them and ask where they can buy a pair of their own. If the winner likes them, they will also probably return to your store for a new pair in the future.
5. Greater Likelihood of Sales
People are more likely to buy a product from a company they are familiar with than from a company they have never heard of. When companies reach potential customers with their giveaways, they increase the chance that the customers will buy from them in the future, whether or not they won the contest.
6. Gather Customer Contact Information
When companies require people to sign up for freebies by giving out their basic information, the company is able to create a mailing list of people who may be interested in their product. Unlike general paid advertisements, which reach a large number of people who may or may not be interested in the product, these lists contain only people who may be interested. Use this information wisely. You don’t want to annoy customers or spam them.
While freebies may cost companies a little bit of money, depending on what they choose to give away, the benefits of freebies make them well worth a company’s time. Using freebies properly won’t reduce your companies profit at all, it will actually help it grow. Try some of these ideas here and see how much they can help your company grow.