The most successful marketing method that businesses employ to promote their products and services is known as “gift with purchase.” Free presents are often well received. Many manufacturers all around the world create one-of-a-kind and practical freebies to include with client purchases in the hopes of luring customers to buy more of their wares. You may increase the worth of your company as well as the number of sales you make by providing something of value to your consumers that is completely free. These freebies are a part of the promotional materials that are being offered.
On the other hand, the following arguments will demonstrate why including a free present with a customer’s order is an excellent strategy for growing your company – Read more on our blog: 5 reasons Why having a GWP is a marketing strategy
How to select the best gift for your campaign?
A good number of the guidelines that guide the selection of products for use in cross-selling also govern the selection of products for use in GWP campaigns. If you want your clients to spend more money with your company, the free present you give them should be engaging and significant enough for them to feel compelled to do so. In the same breath, you’ll want to check to see if it’s feasible for your company to hand out free samples of these products while still maintaining a healthy profit margin.
So, what are some wonderful suggestions for presents? And what can you do to give your present more significance? One strategy for accomplishing this goal is to present customers with a gift that is not only useful but also meets a requirement that is important to them as consumers. For instance, if you are selling coffee machines, one suggestion for a gift-with-purchase may be to include a complimentary bag of dark roast coffee beans with each customer’s order. This would be just one example. You may also add value to your product by providing clients with a distinctive and one-of-a-kind present that cannot be easily located anywhere else.
What challenges are there with selecting the right GWP?
The most challenging aspect of gift-with-purchase programmes is finding a happy medium between supply and demand in terms of product availability. It is important for companies to examine the data at their disposal in order to estimate the total number of people who will participate in their campaigns and the resources that will be required to fulfil their objectives. This can include their programme budget, the capability of their manufacturing and distribution, and the requirements for their customer service.
In addition, companies need data in order to understand what it is that customers want and what they are willing to do to achieve it. If they don’t, they run the risk of giving away a present that customers aren’t interested in or of erecting hurdles that reduce interest among customers. For instance, if they employ GWP programmes to stimulate sales of their product with the lowest volume of sales, they might not attract as many participants as they had hoped. If the majority of their products are priced at $30 or less, but customers need to spend $100 in order to be eligible for a gift, then customers may be hesitant to spend considerably more than they normally would in order to meet the requirements.
What are the production steps in designing a GWP?
1. Describe the objectives of your company.
The first thing that marketers need to do is establish their goals for the free gift with purchase promotion that they are running. Is the primary objective of the programme to raise the amount of brand recognition, to increase the number of new leads, to drive sales and engagement, or something else entirely? Is the purpose of this campaign to support a long-term action plan or to accomplish a goal that has a shorter time frame?
Check out our services page and let us help you develop the objectives and plan that is right for you!
2. Set your budget and targets.
The amount of money that a company spends on promotion and marketing can be determined by setting a clear budget and targets, which can also be used to evaluate how successful a programme is. This could involve collecting a certain amount of new leads or redeeming a certain number of prizes, depending on the goals that they have set for themselves. It’s possible for companies to centre their attention on things like revenue, return on investment, client acquisition expenses, and customer lifetime value.
3. Determine your inventory and the product you intend to make.
Marketers have to select the free gift they provide depending on the preferences and activities of their target audience, as well as their company’s finances and niche. When they are determining the optimal inventory for both the products they are promoting and the gifts they are distributing, whether it is free items, brand merchandise, cashback rewards, and so on, they should anticipate a spike in sales. This will help them prepare for the optimal amount of inventory.
4. Design your marketing campaign.
Email marketing campaigns, display commercials, social media posts, and in-store advertising should be used by companies to promote their gift-with-purchase programmes in order to boost both awareness and engagement with their products. When marketers want to boost customer remember of their brand and encourage shoppers to share a campaign, they might devise a memorable name, slogan, or hashtag. They need to keep their attention on the gift offer at all times and monitor how well the promotion is doing, therefore they need to think about creating a unique landing page or microsite.
5. Evaluate the outcomes of your promotion.
At the conclusion of their gift-with-purchase programme, marketers are required to evaluate their performance by looking at data in order to gain an understanding of what aspects of the programme were successful and how they may make further enhancements. For instance, did they come up with a figure that was too high or too low for the total number of participants? They either spent too much or not enough money on marketing, which is it? Were they successful in increasing brand recognition, bringing in new customers, and encouraging repeat purchases? They are then able to put this information to use in the planning of future promotions and in the enhancement of their strategy for client segmentation, retention, and loyalty.
How can POP Creative make the GWP manufacturing process easier for you?
We understand that large scale GWP programs can be overwhelming especially if they are only a small portion of what your job entails. We have been there. This is one of the main reasons why our company exists! We are here to help you and guide you in the best way to get the most out of your GWP budget while having minimal stress.
Let’s say you need to come up with a nationwide or storewide GWP activation program. Your boss gives you a budget and timeline. But you are not sure where to start? It feels overwhelming. That is where POP Creative comes in.
Step 1 – reach out to your dedicated specialist here. We will sit with you while you explain what your project is and learn about your needs.
Step 2 – during your explanation of your project we will ask you pointed questions so we can understand the request at an intimate level.
Step 3- during our conversation and questions we will pinpoint what your goal is and what your item might look like.
Step 4- if we need information from you in terms of retail inspiration or sizing or logos, we will make that clear so you can gather that and revert back to us.
Step 5- we will take all the information from our discussion and questions and make a deck of potential items that would work for your program. From there we sample until we have an approved sample and then place the item into bulk production.
We handle EVERY aspect. From artwork, to samples to suggesting edits to arranging final door delivery.
Before you know it your GWP program is in hands and ready to be launched!