Finding the right way to make offers is one of the best ways to grow a business, but which types of free deals are worth knowing about? By looking at some examples across different industries, we can see how free offers work in real life.
Free bingo encourages player loyalty
The rise of online bingo gives us a good example to start with, as it has become a huge industry but each site that offers these games needs to find a way to stand out. One way of doing this is by giving a wide variety of games to choose from. By giving free games, operators encourage loyalty among their players. The chance to play daily free bingo at Paddy Power reveals how this works. Their free bingo cards can be claimed by players each day, with cash prizes available for the winners. This can be a way to reward loyal players with the chance to play for free when they don’t plan to bet their own money for any reason.
The way this encourages customer loyalty is the key concept that can be applied in retail and other industries. Those new customers who sign up know that they can get something for free which makes them feel like valued customers who are welcome to keep coming back to do more business.
Free cryptocurrency helps new investors overcome their fears
Some industries have to find ways to encourage potential customers to overcome their fears or reservations before they feel comfortable going ahead. Currently, the cryptocurrency industry is a good example of this. The Motley Fool confirms that cryptos can be a good investment but that there are some risk factors such as volatility and potential regulations coming into force. One of the ways to help newcomers overcome these fears is by giving them something for free, which is why we often see exchanges offering free coins to anyone who joins them.
This lets the investors enjoy the excitement of the market and hopefully watch their first tokens rise in value. If their free coins rise in value, they’re more likely to buy some more. The same principle can be applied to the retail sector, as free offers such as samples are used to introduce new products that customers might not yet consider buying.
Free advice builds trust
One of the reasons that blogs and YouTube videos can be so successful is the way they let businesses give free, easily accessible advice. This list by B2BMarketing of the best branded YouTube videos includes names such as Volvo Trucks, Intel and Cisco, with many of them offering useful content that makes it easier to understand how they operate. In retail, companies can easily give free advice on their products and the buying process, which is an easy way to build trust.
All of these ways of giving something for free can be used in retail as well as in other industries, giving customers something for free and helping businesses to expand at the same time.
