Promotion Product

Product Promotion Giveaway

Incentive giftThere’s a reason why for years Estee Lauder Company set the standard with their “Gift-With-Purchase” Promotion Product strategy, that is now widespread throughout not only the cosmetics industry, but many other industries as well. The attraction of ‘something for nothing’ has always enticed consumers. Doesn’t it make sense to appeal to their basic desire?

First and foremost, everybody wants something for FREE! It is a simple human instinct that appeals to our need for self gratification.

Incentive cost very little, but have a high perceived value to your end user. You can offer incentives that your prospect perceives as very valuable to them, but costs, and should cost you, very little for you to purchase, as a free giveaway,(incentive) product.

Incentives can and do drive sales, and an incentive, with no other charges, can dramatically alter the results of any promotion.

Too many business owners think of an incentive as an afterthought. This is a huge mistake!

What is a incentive?

A incentive is anything of value your prospects or clients receive for taking some form of action.  Often, the best incentives are not always related to whatever it is that you’re offering! It’s often an unrelated item for their own personal use. This is something you can experiment with and conduct a test market as to what incentive returns the best ROI results.

The key is that it has perceived value to the consumer.

Examples for a Promotion Product…

  • A pet store could offer, a bag of dog treats as an incentive.
  • A barbecue store, could offer gift cards for Omaha Steaks.
  • A restaurant could offer a free meal after eating at that restaurant ten times.
  • A hair salon could offer Starbucks rewards card.
  • A grocery store could offer a point system rewards card.
  • With any $35 purchase, you can get a FREE 8 piece gift set.
  • A white paper with information that could change thier life.

The Incentive can be used as your main focus of your sales pitch

How many McDonald’s Happy Meals have you bought, just for the prepackaged toy?

When deciding upon an incentive it’s vital that you know your average sale. $5, $50, $5,000? How much of that are you willing to give away for a purchase? Or to get an appointment from a prospect?

Careful, consideration should be given when choosing an incentive gift, as to the main offer itself.

 

By: Fay B. Castro

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