With so many different marketing techniques available to companies today, it makes sense to question some of the more traditional forms out there. Many companies are piling their cash into the latest customer acquisition methods, simply because their competitors are.
Pay Per Click, Display Advertising, Re-Targeting and influencer marketing are all great, but they generally have one downfall – they focus on the last step of the sales funnel only. That is the step in which customers are ready to make a purchasing decision.
Traditionally marketing managers have focused their attention on raising brand awareness in the absence of less traceable alternatives. However with the pendulum having swung too far the other way, there is now a substantial advantage in spending budget further up the funnel.
If you have first raised brand awareness through methods such as giving away freebies, your returns will be greatly increased which is purely sales/conversion focused. But how do you raise brand awareness within a reasonable budget? Well the answer is branded giveaways, they are a hugely cost effective way to keep your brand name in consumers’ heads over time. The reason being is that the goods stay in front of them all the time (if they use them that is).
For example if you get your company’s name on a customer water bottle label, and your target customer drinks from that water bottle every day, you’re going to be remembered. When it comes to making a final decision between you and a competitor, being familiar with your brand will likely have some positive sway.
The same thing goes for notepads, pens and even lesser used items such a stress balls, as long as you can get your brand in front of the target customer’s eyes on a regular basis you’ll be at an advantage. You just need to work out your average customer value and build in the cost of acquiring the merchandise you plan on giving away. As long as it’s at a profitable cost the results can only be helpful.
In fact, whilst other retailers and brands are bombarding consumers with discount codes and online offers, separating yourself can have a profound effect.
Clickz, gives the following explanation:
“By giving shoppers a gift, retailers get hyper-efficient marketing that can truly change consumer behavior and create profitable new visits at the scale they need. And shoppers feel a special connection to the gift-giving retailer, which carries into their shopping cart and future loyalty to the brand. We are on the verge of a seeing a significant shift in the economics of advertising and the rise of gift marketing.”
So why not differentiate yourself, create a new sense of brand loyalty and break up the online paradigm that is modern marketing? You just might be surprised at the effectiveness of the results. The next steps for you as a business manager or owner are to find a reputable supplier, buy at the right price and find a means of distributing your new eye-catching freebies.