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Winston Churchill once said that “we make a living by what we get, but we make a living by what we give.” While such an ethic is vital to cultivating healthy relationships that lead to a fulfilling life, giving can also play an important role in the financial success of a business. In every industry, the ultimate goal is obviously to increase sales and maintain a healthy profit margin. From that point of view, giving away product would seem counterproductive. Many small businesses today are actively involved in social responsibility programs and reinvest part of their profits in the communities that support them. The profit margins of products and services are what allow these companies to become socially involved. However,
Statistics on Product Sampling: The Impact On Sales
Building an attractive brand with exceptional, high-quality products is only half the battle. Getting your product into the hands of your potential customers is the biggest challenge facing small and new businesses.
Imagine a shopper walking down the grocery aisle looking for snack options that will allow them to maintain their low-carb nutritional goals. With the global Keto diet market expected to grow by $1.11 billion during 2019-2023 , the variety of “Keto-certified” snack options will continue to expand. How can a small brand persuade that buyer to choose its product over its competitors?
Everyone loves a free gift, and offering free product samples often makes all the difference. This strategy allows small businesses to convert their casual customers into loyal followers of the brand. Also, giving away product samples is a great way to encourage impulse purchases, which works as the first step in developing a stable customer base. A recent study estimates that an average shopper routinely makes three unplanned purchases during 40 percent of store visits . Offering a product display in the supermarket aisle where your Keto diet food products are for sale works as a strategy to turn casual shoppers into active consumers.
In addition, another recent white paper by experts in the study of the effectiveness of food sampling found that nearly three in four consumers would likely buy a product after trying it for the first time. For the sake of comparison, the same study found that only one in four consumers would buy a product after seeing it in a TV commercial. We’ve written extensively about the advantages that online marketing offers , and Keto food brand startups would do well to consider product sampling as another component of a comprehensive marketing strategy that allows them to connect with their target population.
Knickerbocker Coffee Company
In the city that never sleeps, coffee is the soul of a large part of the population. While there’s no shortage of demand for coffee in New York City, carving out a niche in this highly competitive market isn’t easy. Knickerbocker Coffee Company uses the art of free samples to convince New York coffee drinkers that their single origin coffees are the best on the market. On their website, they offer a free 2-ounce packet of any coffee on their menu, just asking their customers to cover the minimum cost of shipping.
The owners of this new coffee company state it clearly : “If you don’t think our coffee is hands down the best, ask for a free sample and see for yourself. We trust that after you take a sip, you’ll come back for much more of it.” our delicious coffees.” From a business perspective, a free 2-ounce sample is a token price, especially if this strategy allows them to build a loyal customer base who are willing to pay the $16.95 per pound of coffee they sell online.
Benefits That Accompany Free Samples
Giving away free samples allows you to discover a market opening that new brands need to develop their niche in the market. The practice of product sampling not only validates the quality of your product, but also promotes your brand with more visibility. Other benefits of giving away samples include:
• An opportunity to introduce your product to new customers – Despite the growing popularity of the Keto diet , many consumers are still unfamiliar with the benefits of a low-carb diet. Offering product samples is one way to reach out to people with even a slight interest in the keto diet and convince them that healthier nutrition doesn’t necessarily sacrifice taste and quality.
• Build Relationships – Successful brands are those that have found ways to create lasting relationships with their clientele where shoppers identify with the brand. Offering samples of new products to your loyal customers, on the other hand, serves to strengthen the sense of connection between the brand and the consumer.
• Increase customer loyalty – People appreciate free gifts, and will often reciprocate that offer with long-term brand loyalty.
• Increase brand visibility and brand offerings – By giving away free samples of your product, you’re also showing potential customers that you have nothing to hide. Offering “freebies” reveals trust in your product and creates more visibility and transparency in what you bring to market.
Some Sample Ideas For Product Samples
Offering product samples should be part of a comprehensive and holistic business plan and marketing strategy. Giving away products will always represent a cost to any business and therefore must be strategically designed to help your business achieve growth objectives. Here are some ideas on how keto food brands can tactically use product samples to increase their market share or spur new business growth.
• Free Samples to Jump Start a New Business – When introducing a new keto food brand, it’s essential to find ways to distinguish your product from others on the market. Product sampling can allow customers to try for themselves what you bring to the table.
• Free Samples to Sponsor an Event – Any gathering of people is a potential opportunity to connect with new customers. Keto food brands sponsoring an event will not only increase their name recognition, but can also take advantage of offering free samples to potential customers to stimulate local demand.
• Free Samples as a Customer Bonus – What better way to show your customers your appreciation than by sending them free samples to thank them for choosing them? For example, a keto food brand might offer a free gift after a customer has purchased a certain amount of product in a certain period of time. It is worth mentioning that 83 percent of consumers said that customer loyalty programs were an important factor in their decision to continue doing business with a brand.
• Send samples to “Influencers” : In today’s digital world, social media influencers have played an important role in marketing. Nearly nine out of ten companies say that the return on investment from influencer marketing is comparable to or better than other marketing channels. Sending product samples to social media influencers and strategists in the low-carb niche is a great way to build a relationship with the people who can push your product and help expand your customer base.
While increasing sales is obviously the goal of any business, offering free product samples is a good marketing and brand growth strategy. “You must give to receive” is one of the tenets of most spiritual paths, and it is also an important piece of business wisdom.