A pen, a box of chocolates, sample vial of cologne – all gifts from businesses to thank you for patronage. But, sometimes these little things can push you over the edge to go with one business over another.
But, some other studies have shown that the perceived value of the bonus gift – as a stand-alone product- can sharply decline.
People infer that the manufacturer wouldn’t give something valuable, for free. People who viewed a catalog of duty-free liquor with a pearl necklace as a free gift. Subsequently people were willing to pay about 35% less for the pearls as a bundled gift.
To keep from backfiring, you would want to re-accentuate the value of the gift. So, if work for a software company. Maybe offer a free security program as an incentive. But, if you fail to point out what someone would have to pay for that software you are missing out on an effective way of positioning your offering as significant and valuable. If you write down “free” – numerically the value is $0. Not a message you want to send.
Meaning, the customer needs to see the true value of your offer. Don’t say, “receive a free security program” but instead say “receive a $250 security program at no cost to you.”
Value what you do in all applications of influence. Point out to a colleague that you were happy to stay an extra hour at work because you know how important it is to their business prospects. You are valuing your time in your colleague’s eyes.
If trying to encourage use of an after school program to parents, point out the cost if they parents chose a private after school program. You create a value!