This article was written by Michalis Michael from Tickmill.
Consumers adore the idea of getting something for nothing. Companies capitalize on this love of anything free to increase brand awareness, find new customers, increase sales or show their appreciation to client loyalty. Forex companies could not be an exception to this rule.
My recent visit to the iFX EXPO in Limassol gave me a good understanding of the creative tactics forex companies employ to steal the show and entice potential customers with promotional giveaways. From traditional freebies like USB sticks and stress balls to more trendy gadgets like spinners and mobile phone stands, giveaways appear to be playing a key role in boosting forex companies’ brand identity.
The more inventive and useful the giveaway is, the more likely it will differentiate the brand from competition and the more lasting the impact will be on brand recognition.
A unique promotional product gains a company attention and publicity and can get people talking about the brand. On top of this, it may also help people recall the brand after a certain period of time or even enhance people’s perception of the company. Here are some invaluable tips when it comes to offering giveaways:
Choice is king
Anything you can think of may be offered as a promotional item, from wearables, personal gadgets, writing instruments, sporting goods, food to desk and office accessories, the key to the most successful giveaways is finding something that hits the sweep spot between uniqueness, attractivity and usefulness.
Choose an item that matches your brand’s personality and that would offer repeated brand exposure in the place that matters most to your prospects.
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Think of a gift that would immerse your brand into your prospects’ everyday lives and that would add value to their job or daily activities. Last year for instance, fidget spinners emerged as a fashionable must-have office toy ideal for stress relief. In the context of forex, this could not be a better gift for traders as it is likely to reduce the stress and tension that come with trading, which, admittedly, has its ups and downs.
Personalize where necessary
In certain cases, personalizing the item for the client makes more sense. This approach could work well with partners. For example, if you were to reward an introducing broker for his excellent performance in bringing in clients, putting their name on the gift would be great. Not only this will make them feel special but it will also indicate that you are the kind of company that recognizes and rewards each partner’s individual effort in thoughtful ways.
Branded merchandise as an engagement tactic
Promotional gifts that carry a company’s logo can do wonders for keeping a brand top-of-mind. Logo emblazoned materials and merchandise products such as t-shirts, caps and other wearables, can serve as a loyalty booster for the company’s employees and clients alike.
Presenting your employees with branded clothing and other desk/office materials will contribute to building a strong internal brand and corporate identity, boosting their morale and loyalty towards the company they work for and with whose values they identify.
The same goes with clients who have that ‘love’ attachment to your brand and will truly appreciate the special recognition you give them by offering them a branded gift. Remember, your clients have chosen you for a reason; it could be the competitive spreads that you offer or the variety of payment methods and languages available on your website. Offering them a handy branded product for free speaks volumes of your ability to deliver added value to your clients by offering them a little something extra.
Interestingly, many forex brokers run Facebook contests offering gadgets, accessories, and other merchandise in a bid to keep their fan base engaged, motivate them to come back for more and develop a two-way relationship with their audience. Forex companies leverage on the connection their fans have with the brand, offering them the chance to win a product they find useful and relate to.
All in all, before you invest in a promotional item, bear in mind that your giveaway should not merely be novel, but it should also be able to attract quality leads, not just freebie-seekers, and sufficiently influence buying decisions. Think of your target audience, their profile, your brand positioning and what you want to achieve, before selecting the item to give away.
Have you ever leveraged giveaway marketing? Did it serve its purpose? How effective was it? Share your thoughts in the comments section below.