Unequivocally – yes! Free sells!
It may be counter intuitive to think giving something away for free will entice someone to then pay for your services or products, but that is exactly what happens. It’s called a ‘lost leader’ technique that businesses have been taking advantage of for decades. The principle is that you provide a ‘lost leader’ in the form of a free service, coupon for something free, or handout, which costs your business some money up front to earn the business of a consumer. If your lifetime client value is, say, over a thousand dollars, then it would make perfect sense to give away something free at a fraction of the cost to get them in the door.
If you aren’t currently incorporating free gift strategies into your overall marketing plan, then you are missing the boat on increased exposure and recognition for your brand building.
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Why Free Gifts Work So Well
Generosity is attention getting. In this modern world where nothing seems free, people take notice when you give something away. And one of the main points of your marketing efforts should be getting people to take notice.
A free gift has the potential to:
- Raise the visibility of your product or service.
- Create brand recognition.
- Stimulate positive association with your brand.
- Get your business talked about.
All of those will ultimately lead back to more business for you.
With the right free gift in hand, your potential customers will remember you long after your first touch point and keep your contact information handy when they are ready to make the buying decision about your product or services.
Another tactic is to hand out something that is extremely useful, that of course has your logo on it. This will ensure that the droves of people that walked by your trade show booth or took a branded bookmark while leaving your store, will use the product and keep your brand firmly in their minds. This form of hyper branding works because it amplifies the ‘touches’ that clients need to remember you when it counts.
Promotional product giveaways, with your logo customized on the side of the product, is an absolute huge industry. It is popular for very good reason. Companies small and large alike have utilized promo products to get in touch and stay on the minds of their target markets. Make sure to get those promo product samples and designs from a company before you finalize the order to ensure you like the direction and quality of the product.