What You Should Know About Using Giveaways As A Marketing Strategy

Lots of brands have failed after relying on 'giveaways' as their market penetration strategy.

There are lots of reasons why businesses fail and in some cases, the blame lies on the product itself. No amount of giveaways can make people stick to a bad product and the giveaway strategy is an expensive one that can't be sustained in the long run.

Using giveaways as a marketing strategy can be dicey, especially when it's done the wrong way.

At times giveaways can be good marketing, but it mostly depends on the situation.

While coming up with smart marketing strategies you may incorporate some element of giveaways, but relying exclusively on giveaways is a recipe for failure.

When it comes to giveaways, what you’re offering has to be a quality product — it must have value and must be related to your brand. Sometimes these offerings are usually given away in exchange for the email address of the recipient and you need to make sure those who are interested in winning them are equally interested in your product or services.

For instance, a gym offering an iPhone as a giveaway price would definitely get lots of opt-ins from those who aren’t interested in registering at the gym. But instead, when a gym offers a 2 weeks free membership subscription as a giveaway price, they get participants who are interesting in fitness and winners might even continue with their subscription after the free trial.

Finally, after building a list from your giveaway, you need to spend some time building a relationship with those on the list, so that they come to know, like and trust you. Once that is established you can then mix marketing/sales with valuable information. That is where your pay-off comes.

What are you thoughts, do you think giveaway is good for marketing?

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