Thoughts on Giveaways Being an Effective Marketing Strategy
Posted by Lukas Hernandez
Last week I was in the mood for a bag of cashews to hold me over until dinner. I decided the most convenient place for me to stop by was the Local 7-11 in Damascus Maryland. As soon as I walked in I was pleasantly surprised by a sign that read “Free Slurpee Day.” You can bet I went and grabbed a small cup and chose the blueberry lemonade flavor. I paid the cashier for the cashews and went on my way to enjoy an interesting mix of a Slurpee and cashews.
On the drive home, the marketing professional in me couldn’t help but think if giving away a free item was a good marketing strategy? Should Algorithmic Global run a Facebook Ad on giving away a free website? Is it a good way to gain brand recognition? How much money was spent? What’s the ROI? (Return on investment)
The next thing I did was write out the pros and cons of doing a give away of a product or service.
Here’s what was concluded:
A give away will do more than gain brand recognition. In the case of 7-11, free Slurpees can reach into the emotion pocket for most families. Looking back to when I was younger I can remember the times that my parents would take me and my brothers out to get a nice treat. Kids remember things that they enjoy and impact them. As for me, I don’t plan on getting a Slurpee any time soon.
A Giveaway might cost the company some investment but the recognition that the business will receive will continue to be beneficial. Also, people talk about the free item that they received. A free Slurpee is a huge talk trigger.
With all being said, don’t be surprised if you see a promoted giveaway on facebook soon.