Orison Swett Marden once said, “we must give more in order to get more. It is the generous giving of ourselves that produces the generous harvest.” When it comes to business, generosity is a great strategy for growth. Here are five ways the act of giving can boost your business.
Who doesn’t love free stuff? Whether it’s samples or promotional gifts, giving away swag will get your name and quality out there for the masses to enjoy. This, in turn, keeps your brand in their minds, build rapport, and establishes you as a contender for their business. Never underestimate the power of the branded pen. It’s like subliminal messaging that ticks away all day long.
Networking is the mutual sharing of ideas, solutions, and services. By sharing this advice and your partnership with others in the field, you remain relevant, learn new ideas, and develop long lasting relationships that benefit you (and others) throughout the years. Take some networking advice and get yourself out there to build your circle. Sharing your time with others can be the key to new developments in your business and theirs too.
Have a limited time sale
This sales promotion tactic can be the thing that turns lurkers into buyers for your business. By offering your product or service at a discounted price for a small chunk of the calendar, you entice otherwise stagnant buyers and increase your repeat customers. No one likes to miss a deal. Use this to your advantage and sacrifice just a slice of your profits.
Include more in packages
Instead of selling a shirt for $20 and a hat for $10, sell a shirt for $30 with a free hat! This isn’t exactly giving, but it seems to be that way to the consumer. Everyone loves to receive free things, and by including the cost of extra products or services into the price they pay for the “main” item, you can entice more customers with the prospect of a good deal. You don’t have to be a hat and shirt salesmen to pull this off. Find a way you can include more “product” into your package at no additional charge to your customer.
Share great content on social media
Giving away free content seems counterintuitive to making money, but it comes with so many benefits. This makes it a great strategy for boosting business. By giving away content and advice for free, you are able to create a great reputation for your company. You are also proving yourself as a contender and a problem solver. Free content provides free advertising, builds rapport with customers, and gives an audience for your product which you can position as part of the solution provided in your content.
Buy one, give one
No, we aren’t talking about “buy one, get one free” here. Remember Toms Shoes and its founder Blake Mycoskie? This young man with no experience grew his business into a major, world-famous brand. How? It all came to fruition because of Mycoskie’s desire to provide shoes to the homeless. For every product you sell, consider giving the same product to those in need, and watch how people start flocking to you to support the cause.
Giving not only fosters happiness in those who give, but it can also increase profits. There are so many ways to give that can help your company grow and stay relevant in a world shifting more and more towards generosity. Which method will you try to give your business a healthy boost?