5 Reasons why a Gift-with-Purchase is an amazing Marketing strategy
A gift-with-purchase (GWP) promotion is a sort of sales campaign in which brands offer clients a free gift as an incentive for them to make a purchase of the brand’s product or service. If you want to learn how to select the perfect gift for your GWF, read our blog on the process for selecting GWP.
Occasionally, one particular item will serve as the focal point of one of these promotions. On occasion, companies will employ this method in an effort to persuade customers to meet a predetermined purchase criterion. Typically, there are parameters that define these campaigns, such as the length of time that the promotion will run or the total number of gifts that will be distributed.
The appropriateness of the gift for the consumers is essential to the accomplishment of a GWP campaign’s goals. To put it another way, the “ideal present” is one that is individualised to the recipient by catering to their specific interests, requirements, and inclinations.
Free gifts are almost always gratefully accepted. Many manufacturers all over the world produce one-of-a-kind and useful freebies to give away with customer purchases in the intention of enticing customers to buy more of their products. These freebies are included with customer purchases. By giving something of value to your customers without charging them for it, you can potentially raise both the value of your company and the amount of sales you make. The advertising materials that are now being provided to potential customers include these freebies.
Why having a GWP strategy can help your marketing efforts
You will obtain a meaningful benefit as well as more leads if you choose the appropriate product to provide to your consumers as part of your corporate gifts. Your company will benefit from these complimentary gifts, which also serve as an effective consumer engagement mechanism. After you have determined the most suitable product, the next step is to bundle something unique or beneficial with the items sold by that company. It will assist in the building of a solid relationship with customers, as well as persuade them to do business with your company. If you want to read more about how to develop and design GWP products head over to our post.
1. Raise Awareness of Your Brand
There is a correlation between giving gifts and increased brand exposure. People will talk about your company to their friends and family if they purchase any goods from it and receive a free gift with the purchase of that product. Because of this thing, their friends and family will be more likely to make purchases of products from your business. Make sure that you provide your customers with an item that has your brand and is of some benefit to them so that they will remember your company at all times. Word will get out about your company if the promotional item it is printed on features both your company logo and an interesting message. Increasing brand recognition through the use of a brand message is an extremely effective method.
2. Encourage customers to make repeat purchases.
A lot of businesses give away little versions of their other products that have been customised in some way. Customers’ attention can be easily captured by these complimentary products, which then enable those customers to purchase things bearing your brand. Moreover. In addition to this, it will encourage them to search further into other products of your company in order to obtain something additional and helpful. These presents may take the form of a water bottle, pen, diary, or any number of other things. After trying out the sample size, they will most likely get in touch with you regarding purchasing the full-size version or other items. This motivates customers to make additional purchases and strengthens their commitment to the brand. They will contact you more regularly and in greater frequency the more they test the products associated with your brand.
3. Instantly Capture the Attention of Your Customers
Your customers will immediately become more interested in your company or brand if you give them a free present as part of a promotion or as a corporate gift. They have expressed a preference to buy presents of your brand in the future as well. It is important to make sure that the free gifts that come with purchases are useful as well as branded so that customers will keep them and not throw them away. It is necessary for the businesses to provide complimentary presents according to the tastes of the customers. Holidays, birthdays, and other celebratory occasions, as well as other joyous occasions, are the perfect times to draw potential clients’ attention to your company. Because you are providing customers with an additional reason to buy, offering high-quality gifts that correspond to the various seasons will result in more people talking about your business.
4. Improve Overall Conversion Sales
The quantity of sales was consistently raised by the presence of promotional products, promotions, and discounts. This is one of the most important techniques that can be used to boost revenues. Gifts are guaranteed to boost sales in any market sector. If you give them more quickly and in greater quantity, you will be able to increase the level of sales you make. You might, for instance, make use of the following promotional opportunities:
- Free present in exchange for subscribing to the email newsletter;
- a free bonus item with the purchase of two items;
- presents given in recognition of a festival;
There is also a method that involves just attracting new clients that involves the use of presents as an incentive. As a direct consequence of this, the amount that they spend in your shop will be reduced to zero; yet, the likelihood of them making a purchase of some type in the future is significantly increased due to the fact that you had previously provided them with a free present.
5. Nurture Loyalty in Your Customers
When a customer consistently chooses your business over competitors offering comparable goods, you have earned their loyalty. However, there is a distinction to be made between the idea of client loyalty and the practise of keeping existing customers. The practise of ensuring that existing clients continue to do business with a given organisation is referred to as retention. The accumulation system of points, bonuses, and freebies for employees and customers might be of assistance to both parties. A programme that is thoughtfully developed will be helpful in expanding the number of individuals who are aware of the brand. They will start talking about your bonuses, and they will use them; as a result, this will generate an additional incentive for purchases, in addition to a positive image of the company. A customer’s emotional attachment to a brand might be described as loyalty. The customer adores the brand, is eager to purchase its wares, and enthusiastically endorses it to their social circle. Therefore, it is essential to provide something beneficial to your clients that also bears your company’s logo, brand name, and slogan printed on it. This will enable your customers to remain loyal to your company.
Other marketing benefits include a Gift-With-Purchase
GWP initiatives are frequently utilised to enhance sales conversions and to increase a company’s level of customer satisfaction. These campaigns, however, have the potential to yield enormous long-term benefits if they are carried out successfully.
The following are examples of outcomes that can result from a successful GWP promotion:
- Increased average order value (AOV)
- Higher customer lifetime value (LTV)
- Increased customer acquisition