Are business giveaways promotional items that work in your industry? Here, Peter Hanley explores the options a bit deeper to find some answers.
How to get a business giveaway
I was thinking about this whole idea to have a product of mine get more bite into the market. My thinking all started with a McDonald's bucket of chips for just $1.
Now Maccas is not in business to lose money however I reckon a bucket of chips might be close.
So why is one of the biggest marketers in the world offering a product at under cost?
Well, young Einstein the answer is really pretty simple they want you to buy other stuff as well when you are in the store.
OK, but why a Dollar?
To give it a value because free has no value but a bargain is something else.
A novelty gift giveaway.
Recently one of the supermarket chains
(Coles) had a gift of miniature product toys. This quickly became an obsession with kids and parents trying to get a full set. Naturally, a couple of the gifts were in short supply, sending shoppers back in the queue for another shot. It lifted sales by a good percentage, making it all worthwhile.
Again, it was not entirely free as you had to shop and spend money creating value.
Did it work? A 5.8% increase in sales says yet it did and paid off handsomely in a very competitive market.
Look around for free giveaways
Sitting at my desk writing and thinking about ideas I look at the desk calendar from a Real Estate Agent, a Pen from a marketing group, my Mousepad from a supplier, note pad from a local business and a trinket sitting on my computer from another business I just had to save.
However most of these have little value because they were free, hardly entering my conscience as the only work or effort involved was to empty my letterbox.
The Ikea give away example
This is not actually a giveaway but the food restaurant is so cheap it qualifies at times as an incentive. Breakfast on Sunday at under $5 has people lined up at the door waiting to get in and save money before they go and buy something expensive.
business giveaways promotional items and loyalty
Buy 9 get one free
Nearly everyone these days has a coffee card from their local beverage provider.
It keeps you loyal as you get near to a free coffee after spending consistently with them over a period of time. It may be only a 10% discount but it feels like a whole lot more because you have to work at it to achieve a reward.
Store Loyalty cards
This is another form of work for your Dinner campaigns as you spend countless dollars to get small rewards. Certainly, they can be a bit more rewarding if you are diligent in your buying habits and flash your card at every opportunity.
Loyalty is aimed at your pocket
All these loyalty efforts are designed to create long-term customers that spend more overtime at a small margin of gain.
I am not knocking at them, I have several in my wallet and even more on my phone, a newfound luxury.
I downloaded an app called Storecard for free and store all my cards in digital format so I never leave home without them. Where previously I might not have bothered, I now flash my phone with regular monotony to claim my token of a future gain. If only I could get my coffee cards on them.
We agree that loyalty works
By now I should have your head nodding in agreement that business giveaways and promotional products work better when you earn them. They have a real value associated with the gift or reward because of effort so what are you going to do about it?
We see these every day on TV, Radio and magazines where you can win big by answering a simple question or filling out a form to enter into a chance for instant fame and fortune. Or something like that.
These are more branding issues but we still get in on the act and participating because we may win.
I recently won a weekend away holiday valued at $1000 because I bought a bottle of wine that had a competition attached.
The competition was appended to my membership at the store so using my frequent buyer card they had my details.
The competition was to flog some more wine by increasing sales and get a better return than they give away. Worked for me but I am unsure of the increase in sales.
business giveaways promotional items and the car industry
The car industry and giveaways
When buying a new car you will be tempted by several options or many incentives as inducements.
Floor mats are a big one, a tank of petrol, a free service or other no-cost options as inducements for you to sign your savings away.
They are all charming and are aimed at getting you to buy.
Once the deal is done then the high priced options that you pay for appear. Window Tinting, Rustproof Armour glaze and lifetime servicing.
The trick is to negotiate these first in the period when they want your business and before you sign. Because after you have bought them they are in a different world.
These are pretty regulars in the travel industry where you get a nice bonus without paying extra. They are, however, an inducement to get you to part with money and not go to a competitor.
Car upgrades when renting, Hotel rooms, extra luggage allowances are all incentives that are offered and can represent great value if you do your homework first.
Giveaways with a tail
There was a preloaded credit card with $20.00 launched in the USA. Who wouldn't want to pick up a few bucks for doing nothing? The problem was that the following month fees gobbled up most of the free dollars.
This has seen a remarkable change in recent times, inclusions include free calls, free SMS and unlimited data on top of the monthly fee.
It was only a short while ago Data was $10 a Gbit and an SMS $0.20 each.
The reason is competition. It is that simple we can all choose from 2-3 networks and change at random so we get the offers. Your guide is to chase the best offers available
List growth strategies
We have all seen these on the Internet with free E.Books and how-to guides and white papers all aimed at getting email addresses so we can market them in our list growth strategy
They are a giveaway and you earn them by providing valuable details. Some are great and we can learn a lot from them.
Social media and giveaways
Again, a great venue to get a presence and obtain those great items that you want.
More and more Facebook and Instagram are used to attract clients. This also includes emails, newsletters and SMS.
My big Give away
I bought a Wristwatch at the end of last year because I wanted one for swimming and water sports so it had to be a few things.
- Good for a 100 meters
- Easy to read dial
- Stainless steel back
- Silicone band
- A reasonable price not inflated for brand costs
It is such a good watch I am giving a new one to anyone that trials my product in Australia.
That's correct just for trialling a product, a free watch.
If this works I might just extend it to everyone that signs up for a Wealthy Affiliate site where you get all the training on the internet you need to market your business.
Interested? Just leave a comment below and we will negotiate a deal.