BizNet OnLine Magazine, Don’t Sell It Give It Away..

Don’t Sell It… Give It Away.. You Can Make More Money!
How Giving "Stuff" Away Can Build Your Business.

When was the last time you heard of a "Business" Magazine telling businesses to give stuff away? I admit that here at BizNet OnLine Magazine we try to educate business owners to look at the world in a new fashioned way, but giving it away? YES, giving it away. No, not your whole business, but "Free Samples" or Promotional Products.

First let's look at the idea of "Free Samples".

The best example of free samples I can think of is in the food industry. Have you ever been to a Baskin Robbins 31 Flavors Ice Cream Shop? If you have you know that trying a "New" flavor is "Risk" free. Just ask for a taste of any flavor and it is yours. Another example is "product demonstrations" at supermarkets. As you push your grocery cart around someone is standing in the aisle giving out a "Free" sample of this or that.

I can assure you that the motive to give away all those "Free Samples" is not so you will not go hungry, but so you will buy the product. It is not exactly a secret that one of the biggest obstacles to overcome when getting customers to buy something is the feeling of risk that they have. "What If I buy It and I don’t like it?" In giving out a "Free Sample" there is no risk to the shopper. Also, your customer is there shopping, as in there to buy stuff! So if they like it, you make a sale.

Now look at your "Product Line". Is there anything your company offers that would lend itself to the "Free Samples" approach? If so give it a try. I believe you will see that anyone "trying" your product will buy it if they like it and if the price is fair.

Now lets look at Promotional Products. Promotional products are a totally different idea than "Free Samples". With promotional products, you're giving something away that probably has nothing to do with the goods or services your company offers. So, why give it away? Simple, your name and phone number are printed on it! Think of Promotional Products like a business card people are more likely to hold on to. And, as they hold onto that "Product" (your card), hopefully when they find themselves in need of your goods or services, you are in their mind. Your phone number is right there. So, they don’t go looking for someone that does what you do, because, they have your name and number right there.

Think about it. Look around your home or office. How many Promotional Products from other companies do you have lying around?

In selecting a "Product" the main parts in your decision are going to be (1) your budget, and (2) your target (the people you're giving it to).

Obviously the budget part is a big thing. Lets say you need one thousand items, and you only have a budget that will let you spend $0.20, per item. The first thing to do is to look at how you plan to use the item to be given away. Do you want people to hang on to the item, or do you just want as much stuff out there with your name on it as you can get. This is when you get into the ‘Perceived Value" of an item. The more likely an item is to be retained by the recipient, the higher the "Perceived Value" is. Look around, do you have an item or two that was given to you that you have been keeping around. Maybe it is that "Nice" pen you are using, a mouse pad, key chain, or letter opener.... the list of items is endless, but what gives an item "Perceived Value" is not the cost of the item, but if people retain or hold onto the item and use it, rather then just pick it up and dump it.

The Higher the "Perceived Value" the better. So, getting back to the 20 Cents you have. Not all 20 Cent items are equal. Look at the items you have to choose from. Look at the way people use those items. Look at the people you're going to give them to (your target). Now try to make the best match you can.

If you think about it a lot of things can affect your decision on what is the best item to give. Calendars are a great return on your advertising. They are good for a full year. But if your target is already being bombarded with Calendars, do you want to be "Just another Calendar"? Also Calendars are time sensitive. They are best given out before they "New Year". Something like a product with a freshness date, if you will. Again, look at yourself for answers. Is this a product you would pick up and keep? Look at what others are giving out. If everyone is giving "Post-It Notes", then don’t waste your time being one of the guys. Find something that only you are giving out.

Don’t be afraid to make your promotional item stand out. Also, sometime a "catchy" imprint can make the item work even better for you. If you can tie it into your business. One business person I know of gives out a lot of lollipops. In his business he charges less than his competition. So he imprints the phrase " Don’t be a sucker..." on all the lollipops. It works and is an attention getter.

So, look around at all those promotional items you have gotten over the years. Think about your target. And get the most "Perceived Value" out of your products that you can.

After all, the idea behind "giving it away" is to make money!

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