Helping your business stand out may seem challenging at times, especially if you’re not familiar with trends like digital marketing. Just because most businesses have embraced this new technique, though, doesn’t make other more old-school marketing methods obsolete.
Branded giveaways can still help you boost your sales and brand awareness as long as you play your cards right and research the best ways to include them in your strategy. The principle of reciprocity works in your favor here — and here’s how to harness its potential.
What Is the Principle of Reciprocity?
The principle of reciprocity is nothing new, but in marketing, it was mostly popularized by Dr Robert Cialdini. In his book, Influence: The Psychology of Persuasion, he explained the six principles that could inspire people to take action, such as buying a product or service. The first principle he focused on was reciprocity and how it applied to marketing and business.
The gist of this principle is pretty simple; if someone goes above and beyond to do something for you, you will probably want to do something for them in return.
For example, you may have a business that offers fantastic purchasing incentives for those who register on the official website. Maybe you even have amazing customer service with fair return and refund policies and helpful staff. All of this pleases customers, so they may feel like they are indebted to you. In return, they can offer their loyalty or perhaps even word-of-mouth marketing!
This same principle can be applied to giveaways when you give a free gift first and then expect to get something in return. For all it’s worth, having a tangible product to use for this sort of persuasion may even boost your chances of creating more loyalty in the future. It essentially results in a social obligation that spurs the audience to action. So, they tend to go the extra mile to return the favor!
How Your Giveaways Influence Your Business
Gareth Parkin of GoPromotional, a promotional products distributor in UK, has been applying the reciprocity principles to his business and his clients’ businesses. He shared these insights that identify the values that will boost sales and generate profits.
They Serve as Constant Reminders of Your Company
One thing is certainly true about branded products — the sheer fact they’re free makes them so desirable. If you happen to be at an exhibition or trade show, you’re far more likely to gravitate towards a stand with free swag than one where you have to pay for products. If the merchandise is also practical and could serve you well in your day-to-day life, you’ll continue to use it for a while, thus indirectly promoting the company for months or even years.
But the best part about giveaways, in this case, is that they keep reminding users of the company that provided the freebies in the first place. No, they may not instantly turn them into fans or customers. They may not even make them research the company right away to find out as much about it as possible.
Yet, every time they use the product, they will glance at the logo, see the contact details, and even say the brand name in their minds. Top that off with the average time most people keep promotional products (about eight months), and you’ve got about that many months’ worth of impressions being made with each use!
Giveaways Excite People and Make Them Feel Special
Another notion that goes hand in hand with giveaways is that they actually make the recipients feel special. Someone has thought about their needs and given them a product or two that somehow improves their life. Such attention warrants something in return — and what better way to return the favor than with loyalty and purchases?
That said, how you distribute your giveaways influences how much excitement you generate about them and how special you make the recipients feel. Yes, getting free swag at a stand is a great feeling overall. But winning the products by putting in the legwork is even more gratifying — and that’s where social media comes in.
Some companies offer giveaways through their social media accounts on a regular basis. However, they set a few rules to make the prizes seem more valuable in the eyes of the potential winners.
The idea behind such online contests is to spread the word about your business. The participants have to share, like, comment or otherwise interact with your giveaway posts, thus helping their own followers notice your company. In return, they can win a prize, which should inspire a strong feeling of accomplishment!
They Spark Curiosity
Finally, giveaways can also spark curiosity in people who may not have done business with your company before. One of the best ways of encouraging that curiosity is through coupons, discounts, and free samples.
Perhaps someone wants to try one of your products but isn’t sure they’d be happy with it. With a free sample, they can check if the product works for them. Naturally, if they like it, they’d be more inclined to buy it from your website or in your store later on. The fact you got them free samples should encourage their purchasing decision even more!
Similarly, discounts and coupons can influence people to learn more about your business and keep buying from you. Saving money by scoring a good deal can, in general, make people happy. Discounts and coupons also create a sense of urgency and discourage people from shopping around. As a result, they can help you build a loyal customer base that keeps coming back for more!
How to Incorporate Giveaways to Help Your Business Thrive
If there’s nobody around to get freebies, there’s no point in even trying to add them to your marketing strategy. Timing is everything, so make sure that your promos get as much attention as possible. For example, organize your giveaways around holidays, special celebrations or conferences and trade shows. Alternatively, consider when you get the most foot traffic and hand out your freebies then to impress as many customers as you can.
Another option is to partner up with a local business. Think about expanding your customer base and sharing yours with another company that’s trying to reach a bigger audience. You could host a joint giveaway as true partners and split the costs of making branded products. Otherwise, make freebie bundles that include both your and your partner’s favorite items and give them away to your target audiences for an exposure surge.
Whichever option you go for, though, remember to keep your merchandise consistent with your business. The products you go for should match your niche and what your target audience is interested in.
Still, don’t be afraid to let your creative juices flow. Though it’s best to go for products your audience can use often, you don’t have to always settle for classics like mugs and pens.
As long as the freebies reflect your business well and are practical and of high quality, they can be as unique and creative as you want. First impressions still count and could make or break your marketing strategy. So do whatever you can to leave a powerful one that lingers in the audience’s minds!