Harnessing the Power of Giveaways: Free Stuff Strategies for Business Owners

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Freebies have long been a successful branding strategy for businesses of all sizes. You don’t have to be a huge multinational to use freebies. Businesses of any size can take advantage of them to improve their branding and boost sales.

Here are some strategies you can use to take full advantage of freebies for your business.

The Principle of Reciprocation

Reciprocation is a very powerful persuasive technique that is used by copywriters and marketers. The basic principle is that if you give something to someone, they are more likely to give something back to you.

In his classic book “Influence: The Psychology of Persuasion,” Robert Cialdini highlights reciprocation as one of the most powerful persuasive tools.

This is one of the reasons why companies give away freebies to potential customers in order to encourage them to buy more from them.

A Way to Encourage Interaction with Your Brand

As well as reciprocation, free gifts also provide targets with a way to try out a product before they buy, and they also provide branding opportunities.

Everyone loves getting something for free, and this creates good feelings in potential customers. If the freebie is useful or fun, they will at least be appreciative, and they may recommend you to their friends. A free product can also create instant brand awareness at a trade show, and it is one of the most cost-effective ways of doing so.

How to Decide on a Suitable Giveaway

Choosing the right giveaway is one of the most important considerations if you want to use this tactic. There are countless options to choose from, but it is essential that you get it right.

If you are running a giveaway from your online store, you may want to provide something that your prospects can download in the moment. Many companies provide free ebooks and documents, but you could just as easily provide a free video, podcast, report, music track or voucher. You may even want to provide a free trial period of your product or service.

By asking for an email in return, you can then continue marketing to your prospects over the coming weeks and months to encourage them to become customers.

If you are giving something away for free at a tradeshow, you will probably want a physical product to give away instead. You will want to stand out from the other companies to get more brand recognition, so it is often a good idea to think of something original.

You could use something to make your corporate gifts stand out, such as custom printed ribbon from a provider like www.lanyardsusa.com. You can get your logo and website printed onto ribbons of any color, and this is a simple but effective way to make your gifts stand out.

Or you may decide on something useful like a bag that the attendees can then carry around with them, increasing your brand reach during the event and beyond.

Common Giveaway Mistakes

Despite giveaways being a powerful and effective marketing technique, it is easy to make mistakes.

If you are running a giveaway from your website, one of the biggest mistakes is making it too difficult for your targets. The entry process may be too confusing, or you may request too much information for a free gift that is not deemed worthwhile for the effort.

Another mistake is failing to use giveaways that are genuinely useful or interesting for your targets. Just because something is free, it does not mean that everyone will want it. It is a missed opportunity if you fail to come up with something to give away that your targets will genuinely appreciate.

One thing you will want to do is include your contact information on your free gift. Whether it is a folder, bag, t-shirt, or stationery, make sure you include your contact info so that your prospects can easily contact you when they need to.

It is also important to always consider your strategy when giving something away for free. So always decide exactly what you are trying to achieve to give you some direction.

Another mistake is failing to use the opportunity to get something back from your prospects. This could be information like an email address, but it could just as easily be the opportunity to interact with your brand. This could involve following your social media account or watching a demo of your product. In this sense, you want to think of free promos as rewards for some kind of action.

Use the Power of Free Gifts

Promotional giveaways are a powerful marketing technique that any businesses can take advantage of. Just make sure you avoid the common mistakes, and you too can use them to give your marketing a boost.