Why Spending On Giveaways Beats Spending On Advertising

The cheapest forms of advertising are word of mouth and referrals, which are an important part of growing a successful business. Most business owners would agree they don’t do enough to encourage existing customers to spread the word as it is hard work and people are busy, so they often need a good reason to help you in this regard except on the off-chance they happen to be talking to a friend who coincidentally is looking for the same or similar work to be done.

The chances of this occurring randomly are slim. If someone is looking for a plumber they might ask you to recommend someone if they know you have used one in the recent past, but they wouldn’t necessarily know you employed the services of a marketing expert or found some amazing software that is really helping your business. The general public might be more generous in recommending services gratuitously but there is no harm in offering a tasteful and appropriate incentive such as up-market store vouchers. This shows your appreciation is genuine and will stand out among the proliferation of tacky offers.

Read more: Win A Free Holiday And Other Great Marketing Methods

Business owners on the other hand like to have and keep a competitive advantage that they wouldn’t necessarily want to share with their peers. If you are in the B2B arena you should focus on anonymous ratings first, and testimonials and case studies from smaller clients that might benefit from the extra exposure.

Thank Customers For Referrals With Vouchers

If you offer services to the public then there are simple ways to encourage referrals, either with rewards like gift vouchers and coupons, or loyalty schemes if you have a regular repeatable element such as a beauty parlour, hair salon or gardening services. Loyalty schemes also work well for restaurants and accommodation businesses.

Review Your Testimonials

Asking existing customers to leave reviews is one of the best ways to attract new customers because good reviews and star ratings make a big difference to whether someone clicks on your listing or not. Testimonials on your website add credibility and provide comfort to someone browsing and yet to make a decision about who they should contact first.

How Giveaways Can Make Your Marketing More Cost Effective

For those that understand the power of building a subscriber base, growing their list is the biggest challenge as it takes a long time to grow naturally and can be costly to promote. Competitions and giveaways are a great way to build awareness, and for this you first need a Facebook business page.

There are two objectives here: first to create engagement with existing followers in a way that encourages them to share your post to increase the reach and gain new followers; and second to build a marketing platform that is so cost-effective it can actually make you money, generating revenue that can be used on other more targeted methods.

Done correctly you can easily cover the cost of the prize you are offering meaning that you have the ability to build your list quickly, and done well you can actually create a new revenue stream at the same time. Who wouldn’t want that?

We are specialists in advising on, creating and implementing all the above.

Be inventive with your incentive and CONTACT US now!