1. Incorporate sustainability into your business model
Incorporate sustainability into your business model
As a business, you are probably already giving away products to your customers in the form of business cards, shopping bags, and takeaway cups, to name just a few.
But what happens when we choose these types of disposable items? The items get thrown away adding to landfill, or worse, litter the environment.
Have you considered ditching the disposables and opting for a quality sustainable solution?
2. Cost effectiveness
Imagine you are in a shop, and someone offers you their business card. You may accept it, often that business card will quickly end up in the bin.
Now imagine you are in the same shop, and that same person offers you a reusable coffee mug branded with their business details. Would you be excited to receive this gift, keep hold of it and use it?
The coffee mug provides a positive association with your brand, it also offers a lower cost per impression than most forms of marketing. The use of residual marketing means your customer will choose to add this branded product into their daily routine, serving as a friendly reminder, and conjointly freely promoting your business to others.
3. Get in tune with your customers
Get in tune with your customers
Every day we are bombarded with traditional advertising methods like radio, TV, and media advertising.
Due to the frequency, most of us ‘tune out’ to this type of advertising. It becomes an ineffective solution for strengthening personal connections with your customers.
Unlike the traditional advertising methods which only touch upon two of our five senses, merchandise creates an opportunity to excite all five!
These tangible adverts mean our customers are faced with a real situation and behave differently with your product in hand. The more useful, durable, and aesthetically pleasing, the more likely it is that product will stay in the household for years to come, or even be regifted if not relevant to the recipient.
Think about your target market, and what would benefit their daily routine. The right product can increase the perceived value of your gift.
4. Customer Acquisition
Are free gifts a viable way to acquire new customers?
According to a study by the Advertising Specialty Institute, yes.
The study found that approximately one-third of free gift recipients will start doing business with a company they have never purchased from before.
A similar study done by the British Promotional Merchandise Association found that 73% of branded merchandise recipients will purchase from you in the future.
5. The power of reciprocity!
The power of reciprocity
Free gifts are an effective means to create and strengthen customer loyalty.
We give gifts to show we value and remember people; this is the same principle used between your business and your customers!
Customer loyalty works both ways. If a customer feels your business has gone above and beyond to create a positive experience for them, they will purchase from you again.
A retail study by Bain & Company found customers spent an average of $178 during their first six months, approximately two years later those customers were spending an average of $357.