When you think of a marketing strategy for a company, you might think that giving out free samples is wastage of money. Besides, the investment you have made might have no returns at all. However, when you wish to promote your brand name by giving away free merchandise, it is all about raising brand awareness, and your brand can be associated with generosity. Just as every coin has two sides, the marketing strategy of giving away free samples has its pros and cons. Therefore, here is a list, highlighting some benefits of giving free samples.
Increases brand awareness.
There is a spread of word related to your brand, and more people get to know it. If they try your free samples, they might be motivated to buy the product. They will also encourage more customers to buy your merchandise. Hence, increasing your brand value.
It also associates your brand with a particular set of values that you confirm. It influences people in a sense that you have done this for them with no strings attached. It gives them an impression that you are trusting them to use the product and consume it. It tells them that you are asking them to judge on their own. Here are some Walmart Free Samples to help you figure out a similar strategy.
If you do not expect any feedback, then it does not mean you will not get it. If you intend to give out free samples in person, then they can provide you with instant feedback. You can also make your input come online by providing a unique hashtag for your product. It will make it easier for the consumers as well, to address you online and ask queries if any. Like this, you can promote your merchandise online by showing off happy customers.
Your merchandise can garner a lot of publicity by giving out free samples and carrying out online campaigns as mentioned before. You might gain some press coverage or internet buzz about your free samples and your company. This method can increase your market value considerably and give a boost to the newly launched merchandise of yours.
Shows confidence in your product:
It shows that you are very confident of your outcome and promise to make your consumers happy with it. It shows that you expect to hear positive feedback in return, and would take criticism constructively. Companies who are not confident of their product would not want to make public use it free.
Tries out new potential products:
It helps you decide whether your product will do well in the market or not, based on the reviews you receive. You can make a value judgment on the same to produce the product in bulk or not. Therefore, it prevents losses in the case the product is not received well in the market.
Hence, by knowing such benefits, you can try to improve your marketing strategy you must have made your mind to develop your marketing strategy.