If you’re like me you enjoy every free sample that is given to you even if it’s something you don’t necessarily need–if it’s free I am taking it!
When businesses hear the word “free” I just imagine when looking at them the exterior they’re looking calm and collected while the interior they’re in shock, the cost is adding up, and they’re starting to sweat.
But the question is, does it work? And the answer is, yes.
Although it may be an expensive strategy, it has proven to be a successful strategy to this day.
Did you know that the very first known person, though not the first ever to ever provide a customer a “freebie” of his products was 19th century soap manufacturer Benjamin T. Babbitt. Pretty neat, right?
So why are businesses giving away freebies? Here’s why:
Free creates buzz– You bet it does! In this day and age it doesn’t take long for good news to travel fast. Businesses underestimate the power of social media and consumers. Providing consumers a little “freebie” will not only put a smile on their face but odds are they will showcase that through their social media, creating that buzz your business want. Utilizing those avenues will definitely have a positive spin for your brand.
It encourages the consumer to give it a whirl!- There is nothing better than a company standing by their product and encouraging consumers to try it at no cost! Consumers are more likely to try something they wouldn’t normally try if it’s free without any obligation.The idea is that if consumers try something and like it, or have a positive experience, they’ll buy and then come back for more and may potentially be loyal to your brand.
They’ll spend more!– Sure you’ll provide a sample and some will spend the bare minimum which is fine but most will stay for awhile and end up spending more. For example; why do you think so many restaurants offer days where kids can eat free? Because business owners know that kids aren’t eating alone. The cost of a child’s meal is minimum compared to their parents. This is one way where offering a “freebie” can leverage yourself above your competitors.
So next time, if you’re thinking about product sampling and factoring cost and benefits, remember these key reasons!
The power of FREE!