Collaborative post – may contain affiliate links
Many business owners are wary of the word ‘free’. When money is tight, why make matters worse by giving things away with no return? It’s madness, and certainly not the way to make a success of your business, right?
Perhaps not. But, with so many companies offering freebies, you have to wonder whether there’s something to the method. It’s working for them, after all. The first thing to get your head around is that nothing is free. As such, you’re sure to see a return on anything you give away.
How, you ask? Well, for one, by working with companies like Pro-Motion on labeling systems, you can ensure that your brand and logo is shouting loud and proud from any freebie offers.
As such, those products draw more attention to your store and thus increase your earnings. So, you see, the receiver may not pay, but someone does. Plus, giving things away for free creates loyalty, which again leads to future sales.
Of course, this only works within reason. If you’re giving away $300 of stock each time, you probably won’t see a return. But, giving away small bits and pieces is a sure way to increase your money. Here are some items worth considering.
Branded stationery is a fantastic marketing ploy, because you can guarantee your customers will use it. Everyone needs pens, and there will inevitably come a time when they turn to the one you gave them. Hence, you’ll stick in their minds, and make an impression on those around them. Plus, pens and pencils are relatively cheap to buy in bulk. Bear in mind that opting for the most affordable selection may not be best. Pick pens you’d be happy using, which will last a long time. You’re making an impression here, remember. Good pens = good business opportunities.
In recent years, tote bags have become a staple freebie for many companies. Again, these are incredibly cheap to produce. In fact, if you’re printing in bulk, this will be one of the most economical advertising methods you can think of. Even better, you can be sure that these will have a broad reach. If customers take them out and about for a shopping trip in town, crowds of people are going to see your logo. Make it bold enough, and they won’t be able to resist popping in to take a look at what you offer.
Many companies also opt for loyalty schemes, where they offer cash or free gifts to customers who visit a set number of times. Done right, this is another excellent way to boost your earnings with ongoing custom. Sure, you may have to fork out $10 in the end, but the customer will have to buy from you ten or so times before that. And, once they’re into the habit, you can be sure they’ll come back after as well. When you think about it like that, $10 doesn’t seem like such a loss, does it?