Freebies - How to Capitalize on Business Marketing Generosities Online
In today’s fiercely competitive market, brands turn to all sorts of marketing strategies so they can stand out among their rivals. That is why many businesses use freebies which are essentially marketing tools that allow customers to get closer to the company’s offerings through complimentary goods. As an active or potential customer, you can easily capitalise on such promotions, and this article will tell you all about it.
Commonly Used Types of Freebies
First, let’s dive into some of the most interesting types of freebies you are likely to come across:
Product Promotion
Experienced business owners and managers know that product promotions are a great way to encourage potential clients to actually make a purchase. Giving out these freebies helps them take away reluctance, especially when it comes to new items and innovative products. This strategy is frequently used by online gambling sites which regularly attract new members with fun promotions and bonuses. For instance, such platforms know their clients adore virtual slots, so they often give out free spins without wagering requirements. Promotions of this kind allow the players to have fun without investing their actual money, and can subsequently request payouts without any restrictions. Product promotions are effective in many other industries as well, since they facilitate first-hand experience with the product, and also establish a connection between the client and the business.
Branded Merchandise
Giving out branded items such as mugs, pens, and t-shirts is a clever way to advertise a brand, and many companies are aware of that since it helps them stay in people’s minds daily. Every time a person uses or wears one of these items, they instantly become a walking advertisement for the company. For example, Nutrigold launched an interesting campaign for the sake of promoting their “free Nutrigold container”. So for every purchase of the Nutrigold chocolate drink, customers received a free reusable container. The containers featured a lid with their logo laser-etched on top. Even though such freebies are more commonly used in the physical world, they can also be given out to online customers as a thank-you for their purchase.
Exclusive Access
By presenting time-sensitive offers, or any other kind of special opportunities, you can significantly boost both the engagement and enthusiasm among your potential buyers. Giving your clients a chance to experience the appeal of obtaining early access is one of the best ways to generate additional sales. Airlines, for example, have been using exclusivity since 1939 - the year when American Airlines hosted the first private lounge at the New York LaGuardia Airport. Nowadays, such lounges are regular facilities in airports located worldwide, and those passengers who stay loyal to certain airlines can enjoy the extra perks. In the world of online business, there are many ways to reward loyal customers with special discounts, early access to new products, exclusive information, and much more.
Why Do Customers Love Freebies?
The answer is pretty simple - customers love getting free stuff because there is nothing for them to lose in the process. Let’s imagine there is a business trying to introduce a new product to you. In theory, the item sounds quite interesting, but you are not really sure you would like it in practice. How likely are you to pay money just to try it out? Probably not very likely. However, when you get the item for free, there is no risk of spending money on something you might not like. What’s more, when you get freebies, be it online or offline, there is also no effort involved on your part.
Furthermore, the simple act of receiving something for free instantly makes people happy. According to the principle of reciprocity, our minds tend to set a higher value to the items we receive for free than to those bought through discounts and similar offers. So naturally, when someone does something for us, we are inclined to make an effort to return the favour. In the world of online business, a freebie can serve as an initial gesture that motivates clients to reciprocate through repeat business, loyalty, or brand advocacy.
The Importance of Customization
To turn freebies into a successful campaign, companies need to consider the preferences of their audience, as well as their cultural backgrounds. For example, tech-savvy Gen Z-ers might not react to the same items as Baby Boomers. By analyzing the needs and interests of the target customers, an effective promotional strategy is created that forms long-lasting relationships and supports the growth of the business.
Everyone loves getting free items. Businesses are fully aware of this fact, so they frequently treat their prospects with tailored offers that are very likely to turn them into repeat consumers. This is happening 24/7, across many different industries, and once you’ve learned to recognise these methods, you too can start reaping the rewards.
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