Giving away free stuff has long been a way to attract the attention of customers new and old. As 21st century consumers grow savvier than ever, freebies are still rearing their head in so many industries. The burgeoning cryptocurrency space has captured headlines through its release of non-fungible tokens (NFTs); the movie scene regularly gives away free cinema tickets ahead of major Hollywood releases and the iGaming sector still heavily relies on free bonuses to customers to aid acquisition and encourage loyalty.
The reality is that consumers will always like receiving freebies. It’s a win-win situation for them. They receive something new with zero risk and if it turns out to benefit them it’s a major win, and even if it’s a damp squib they’ve lost nothing on the deal. Today’s consumers enjoy frictionless shopping experiences on and offline and it doesn’t get more frictionless than being spoon-fed products or promotions on a plate.
What are the mutual benefits of freebies for brands?
The first benefit of utilizing freebies for your business is its potential to generate word of mouth. It’s possibly the oldest marketing technique in the book, but word of mouth remains an integral facet of getting your brand in front of the right people. Positive freebies and interactions will encourage consumers to recommend your good(s) or service(s) to their family and friends.
Freebies are still a highly effective marketing technique to tease the rest of your product range. If a consumer is impressed with their freebie, the chances are they’ll come back for more. Many consumers are not inclined to try new things. By embarking on product giveaways, you’re effectively taking the decision out of their hands and showing them a better alternative.
Furthermore, happy customers lead to growing brands. Successful freebie promotions demonstrate that your business isn’t just focused on its bottom line; it’s passionate about adding value and solving problems for your target demographic.
There’s no doubt that free product giveaways also foster a sense of confidence in your range. If you’re prepared to showcase it for free and put your brand name on a pedestal it’s a sure-fire way of building trust among your prospects. It also increases the likelihood of them returning for a second bite at the cherry.
The four-step process to a successful freebie launch
If the time is right for your business to trial a freebie promotion, be sure to follow this four-step process to ensure the right result for your brand and its long-term customer base:
- What’s in it for the customer?
Does the freebie offer an entry into a new line of products? Do they get a membership for a predetermined period, or perhaps a free piece of content that can ease a specific pressure point for consumers? Although it doesn’t have to be a mind-blowing offer, it needs to make life easier or more fun.
- Is it worth their time?
Where some brands go wrong with their freebie promotions is that the products they promote cheapen the very purpose of the campaign. They look and feel cheap, to the point that consumers aren’t surprised that businesses are giving them away. If providing your offer makes people feel like they’re getting a bargain, you’re onto a winner.
- Is it frictionless?
Make life as easy as possible for consumers. Don’t create unnecessary roadblocks to secure the free goods. Asking them to provide an email address or contact number will suffice. The harder you make it, the quicker you’ll turn off prospects that don’t want to invest too much time in a perceived gimmick.
- How can the campaign add value to your business?
Use freebie marketing campaigns to improve your firm’s bottom line. Take the user data to cultivate a new email marketing database of people previously engaged with your brand. It’s a clever way of turning prospects into customers. The freemium model in the gaming industry is further proof that free doesn’t have to mean zero revenue. The freemium model offers initial free games to download, before inviting gamers to pay to enhance their experience and unlock new levels, weapons or inventory.