Freebie marketing is defined as any promotion, low price product, or giveaway that encourages the sale of another, higher value product. Companies are basically giving customers a taste of their products to attract them and retain their loyalty. Freebie marketing need not always be the distribution of free products. These campaigns are also called loss leader programs. A loss leader is a product which is sold at a loss in order to attract customers. We can observe that everyone responds to the word “free”. It attracts customers and induces them to afford the product or service. Freebie marketing is a reliable to strategy to increase sales.
Online services may offer free trials and doctors and lawyers may offer free consultations. Value added low cost product can drive sales to the top.
When you give out freebies, you need not spend money on other types of marketing, inbound or outbound. Outbound marketing is considered annoying because of the interruption involved and inbound marketing takes a lot of time and resources. It is said that freebies market themselves. When relevant information is provided on the website of your company, word will start to spread by itself. People will do the work for you. Another plus point is that when freebies are provided, customers are willing to share some of their details such as their email addresses and contact number. This can be made use of in further marketing processes.
Successful freebie offerings share similar attributes. They meet a brand’s target market where they spend time and deliver something of value. They also avoid asking too much of the customer.
In addition, freebie marketing increases brand visibility. That’s why freebie marketing is the best way to market new products. New products come within the reach of the customers. Hence it is an effective way to market products and services.