Everyone loves a giveaway. Whether they have an interest in the product at hand or not, they’ll happily wait in line for a chance to get something for nothing. Or at least, what they think is nothing. Freebies are just another way to buy marketing space for your brand. Here are 5 reasons freebie marketing is worth the effort.
1. Increased Visibility
In the competitive business sphere, the difference between success and failure can be as simple as which brand was more visible. A large part of marketing these days is searching for ways to get yourself noticed in a swarm of social media and costly advertising. By giving out freebies you’re essentially paying for the chance to be noticed. But you’re more in control than you are with online advertising and strategies that estimate your overall reach. It’s a 1-1 strategy; if you give out 100 freebies you know 100 people have heard about you today.
2. Gets People Talking
If the first step is getting noticed, how do you keep the attention? Word of mouth is a great way to build momentum and awareness for your brand or product. A recent study found people were 20% more likely to discuss a product they were given for free.
3. What About The Freeloaders?
Sure, some people will snap up any free things they can get their hands on. But isn’t the few loyal customers worth the many freeloaders? You never know, they might even surprise themselves and enjoy your product enough to recommend it.
At the end of the day, it’s about managing how much you can afford to give away before the risks start to outweigh the benefits. If you can part with only 50 units of your drink then think of it as 50 more people who have heard your brand name.
4. Put Your Brand In Their Everyday
What if your business sells a service, not a product? You can still make freebies work in your favor. Pens and water bottles are easy to design with your logo on them and they put your brand front and center in someone’s daily life.
5. The Big Brands Still Do It
Uber, Airtasker, Deliveroo; all of these major names have people on the streets handing out vouchers. Even though they’ve reached major recognition they’re still using the concept of ‘freebie’ marketing to get the new users. Copy their methodology and offer up a voucher or free service for bringing in new customers to get your business out into the world.
How To Get Started
Look out for local events in your target market
Street festivals, school fetes, and craft markets are all perfect places to test out some freebie marketing. With lower attendance rates, a local event is ideal for getting your footing without giving away more than you can afford. Set yourself up to attend multiple local events with a portable gazebo, trestle tables and investing in some fake grass that will add a luxe design element for a low cost. Now you can bring your brand to any event at the drop of a hat.
Bring your freebies with you
It pays to be prepared. Especially if you’re in a service industry and your freebies are of the everyday variety. Carry branded pens with you and keep an open mind to opportunities to share them. Such as in meetings where you’ll be the savior when the other person is lacking while managing to market at the same time.
Run a competition
Competitions and single giveaways are a great way to expand your customer database. For the cost of a single freebie, you can gain many more potential customers. Strategies like asking users to sign up for your mailing list or tag their friends on social media are great ways to ensure long-term engagement with your brand.
Partner with bigger brands
Once you have a handle on how this freebie marketing works, try partnering with a large brand in your field. For example, run a competition through one of your major stockists. They’ll receive positive interest from running the giveaway and you’ll gain brand awareness from their large audience. Be aware that a large brand may expect you to offer more than one product to make it worthwhile so this strategy could be costly.
When you’re setting up your next marketing budget we highly recommend leaving space for a few freebies. They’ll garner visibility and positive brand image and are a marketing method where you are in more control.