A well known American chain of convenience stores decided to hand out free slurpees on their anniversary. To their surprise, the slurpee sales for that day rocketed to 38%.

Giving things for free is one marketing strategy that many businesses employ. While the logic behind the strategy is counter intuitive, companies understand that giving something for nothing can create some surprising results. This behavior in consumers was observed as early as 2005, where researchers noted that if an individual received a favor he is compelled to return it even if the favor was never asked in the first place.  

Moreover,  researchers  discovered that  90% of buying decisions are made subconsciously. The product that evokes emotion has the higher chance of getting a sale. The feeling of obligation creates a strong encouragement to buy even if there is no logical or practical reason to support it. 

Giving things away for free also creates word of mouth marketing. Researchers noted that those who got a product for free talked about it 20% more, while those who got a freebie related to the product talked about it 15% more.The products that you give away can create a buzz especially if they are useful and of a good quality. Social media becomes your best friend as people talk, share and even endorse products that they are satisfied with.

Creating cash flow is the lifeblood of a business. Increase your bottom line by leveraging the power of freebies.