Proudly Canadian
Is your business looking for a creative way to increase sales? If you want to promote outside of the box, hosting a product giveaway is a great way to reach more leads.
There any many benefits to run a contest giveaway, and it can yield great results for your business. Let's take a look at business giveaways and how they boost your marketing!
What are Business Giveaways?
Product giveaways are a great way to get new customers in your door. One of the greatest benefits of hosting a contest where you give a product away is it raises brand awareness. People that may not have stepped foot in your store are now showing up to see what it's all about.
It may seem counterintuitive to give a product away that's free. Writing it into your marketing budget will help you establish ROI and learn how much you can give away in the future.
If you don't have it in your budget to give away a ton of free product, you pick a number that fits within your budget. After performing the campaign, you'll have a better idea of the interest it generates and how many new sales you receive as a result.
How Product Giveaways Boost Your Marketing
What are the things you need to consider when hosting a contest giveaway? Let's take a look.
Advertising
Giveaways are created to help you gain exposure as a business. They need to be worked up in your marketing campaign and advertised just as any other initiative.
Do you have a surplus of product? Do you have a new product that's coming in and need to get rid of the old? Both of these reasons are a great time to host a giveaway. It helps your business purposes while increasing attention from outside parties.
Increase Your Audience
As mentioned above, one of the greatest benefits of hosting giveaways is an increase in sales and new audiences.
Is there a target audience you've struggled to reach? Think about how you can use a giveaway to market to this new audience. Does your product fit well with college students but you haven't been able to break into the market? Use campus advertising, social media, or the hot hangout spots to promote your product giveaway.
The great thing about giveaways is there is no limit on how much product you give away. If you have a surplus, you can give away a handful of products, or you may build the contest up to just one major giveaway.
Either way, be tracking and in tune with the buzz your giveaway generates.
Start Small
Product giveaways are an interesting way to draw attention back to your brand and create excitement from your audience. They don't work for every business, but they can be an important part of a marketing plan if you have the resources.
Now that you know their benefits, you can gauge the success of future product giveaway campaigns. If you're interested in learning more about other marketing methods, reach out to us today.
