Freebies are not all created the same. Whether something is a product sample, a reward, or just free stuff, it has a specific message and is aiming towards a specific goal. Find out what these freebies are actually saying and how they can help boost your business’s bottom line.
Rewards are small gifts that you give consumers after they’ve done something. This usually involves challenges or quizzes. These items can be anything from your own products or other merchandise with or without your branding.
Rewards aim to build customer loyalty and deepen engagement with your brand.
At a trade show, you can set up games or challenges, or even just ask consumers to sign up for email subscriptions and offer them rewards if they decide to go through.
Not to be confused with rewards, loyalty tokens are given to existing clients who have already bought your products or services. Unlike rewards, these items need to be more distinct and prestigious. Prestige doesn’t necessarily require expense.
Rather than expensive, they need to be exclusive. These can be anything from executive lanyards to loyalty cards that earn them points.
The idea behind loyalty tokens is that the clients who will receive them actually already like your products enough to spend money on them. Loyalty tokens aim to both make clients feel special while leveraging them to champion your brand.
You can give loyalty tokens to returning clients who have already expressed their satisfaction with your products. An exclusive line of your upcoming products is an excellent gift for these loyal customers.
Discounts urge existing or new clients to purchase your products. Discounts are excellent product promotion devices that not only make it easier for potential clients to obtain your products, they also show that your brand is generous.
Using discounts for rewards or loyalty tokens involves a risk since consumers may think they are being coerced into spending more money with you right after they already have. Although, discounts can be ideal as rewards if the client only completed a challenge and they’ve already received a small token.
Seasonal discounts are great because clients can anticipate them and help them go for your products, particularly during a time they’re already in the market – like giving discounts on roses when Valentine’s Day swings around.
Like discounts, bundles help you actually sell your products. They’re ideal for items that go well together like TVs and soundbars. Just make sure your bundles make sense for consumers, so you don’t risk them being suspicious that you just want to sell a weaker product by partnering it with a stronger one.
You shouldn’t offer bundles as rewards or loyalty tokens because clients may again think they are just being pressured into spending more money on your products.
The best bundles sell themselves.
Speaking of weaker products, giving them out as samples can be the way to go. There are a lot of reasons why products don’t sell. If you find out that particular lines don’t sell just because of a lack of good marketing, then product samples can help get the word out that these products are actually worth the money.
Just be careful because although giving out a good product can help you sell and build your brand, giving out a bad one can ultimately hurt your reputation. Do your research well by talking to consumers.
Finally, you have your freebies. Their main objective is just to let the world know you exist and win more work for your company. Useful items bearing your brand can serve as great freebies. These are usually given out in trade shows where the people expect they will get something. Find creative ways to make your freebies interesting like giving out items with Easter eggs pointing them to visit your website.
According to Time, consumers generally respond well to freebies by rewarding the generosity of businesses. Use the knowledge you’ve gained here to build your brand and keep those clients coming back.