Updated: Oct 13
The Benefits of Offering a Free Product or Service
How to not miss out on a host of the brand- and ROI-boosting advantages from the Free Product or Service
Many Marketing experts can see the value in offering top-rated skincare products along with a free product or service. The idea of offering a product or service for free feels "counter-intuitive", Right! It costs me money to run a business.
However, business owners are of the mindset that do I need to generate revenue to experience any form of lasting success.
So I am acutely aware. I know you do not give away the Cow with the farm. However, I know that by strategically introducing giveaways or gratis add-ons, You can see significant growth in your product sales i.e for me that would be skincare product sales
1. Growing your leads list
Using the marketing ploy of free offers have been a proven tried-and-true method of lead generation. Many B2B brands will provide ebooks or other materials in exchange for signing up for their newsletter. This serves as an easy way to collect email addresses that can be leveraged in future marketing campaigns. This type of giveaway is so widespread that SNS Content Marketing Institute reports that 88% of B2B companies use content marketing for lead generation.
Of course, similar tactics can also prove effective when selling other consumer products, such as Alcohol, Sunglasses, shoes, personal skincare Products.
Brands use certain product giveaways which encourage their existing audience who follow them on social media to sign up for an email list to gain additional entries. The result is more potential buyers who will receive email and social media marketing, leading to future purchases.
2. Helping others understand what you have to offer
In light of COVID-19, the offering of an additional free travel-sized kit, and additional add on's such as Skincare moisturizer was more than helpful to triage coronavirus symptoms remotely. Rodan and Fields implemented this solution on their websites. It was the right thing to do, but it's also allowed customers in the US, Canada, and Australia to see how our products work. It gave us a chance to show our commitment to quality service, which will undoubtedly lead to new client growth in the future.
3. SNS used well can generate a buzz for your Products.
These Product giveaways were a great way to grow your fan base or following. This promotion was commonly seen with social media contests where Rodan and Fields will require that followers tag friends as part of their entry. As we are currently doing in Japan on Instagram
When done right, this can generate a snowball effect that leads to many people discovering the brand and its products. In fact, a report from Easypromos found that 99.3 per cent of contest participants will share links online if the contest incentivizes getting friends to participate.
Of course, the benefits go well beyond brand awareness. Contests can lead to exponential growth in your social media followers and email subscribers. They can also dramatically increase engagement through these channels. More followers and higher engagement will naturally lead to more qualified leads and purchases.
4. How to collecting valuable market feedback
Your most loyal customers can serve as an important source of information when testing a new product or service. It is important to know testing products with customers is “the only real test of a product.
If people criticize your new product idea, ask them why. It is important to ask how the product could be modified to make it more attractive. For your most loyal customers, the potential of being the first to try your next innovation is motivation enough. And the wider of a group you can test, the more diverse and reliable feedback you’ll receive.
5. Up-selling purchases for Free shipping
There’s a good reason why many online retailers like Amazon and Walmart set minimum purchase requirements to qualify for free shipping. It’s an easy way to encourage customers to buy one or two extra products to fill up their shopping cart before checking out. In fact, a UPS study found that in 2017, 48 per cent of online shoppers added items to their cart to qualify for free shipping.
It drives such similar results when you offer a free product or value-added service when customers meet a set minimum purchase threshold. Alternatively, you could bundle a free item with a lower-selling product to boost its sales. Pair relevant products and services together to better upsell to your customers.
How to have plenty of profit for tomorrow with a Freebie today
As these examples illustrate, giving away products or services for free is all about the long-term results. Whether you’re providing customers with an opportunity to essentially “try before they buy” or directly motivating additional purchases, strategically introducing these offers will have a positive impact on your bottom line.
If you want to learn more please contact me firstname.lastname@example.org