Competition is fierce in today’s market, and retailers often use various promotions as part of their marketing strategies to win sales. Online sellers researching effective methods may wonder how the GWP meaning in marketing (gift with purchase) can help them.
What Does GWP Mean in Retail?
GWP stands for gift with purchase. Ultimately, the GWP meaning in business is the idea that getting something free attracts many consumers. In retail, choosing the right GWP means you can realize several benefits:
- Increased brand recognition and loyalty
- Higher order amounts
- New customers
- Reduced return rates
Customers who take advantage of your GWP promotion will likely tell their friends about the great deal they got, so you may also get some word-of-mouth advertising.
What Is an Example of a GWP Promotion?
GWP promotions generally entail a free gift when you purchase a specific item. For instance, if you buy a new laptop, you might get a free mouse. Other examples of GWP promotions include:
- Bundled packages at a discounted price
- Free shipping with a specified minimum purchase amount
- A credit or discount on a future purchase when you satisfy the GWP promotion terms
- Discounted pricing for a specific period when you sign up for a subscription
- Buy one, get one free or buy one, get one at 50% off
You can also combine a GWP promotion with other marketing strategies, such as a contest, to encourage participation. The GWP concept is similar to upselling.
How Can You Create a Successful GWP Marketing Promotion?
Consider your goals, then adapt your offers to satisfy customer needs or desires to achieve the most success. Possible goals are:
- Advertising a new product
- Increasing cash flow
- Encouraging holiday sales
- Convincing first-time customers to make a purchase
To make the most of your GWP promotion, select the gift wisely. Choose something that your customers will want with a high perceived value.
You should also consider the cost and whether you can afford to give the gifts away. For example, offering free shipping with all orders may not be cost-effective or encourage more sales. However, requiring a minimum purchase for free shipping often convinces customers to spend more to earn it.
When planning your GWP marketing campaign, be sure to:
- Select a GWP that reflects your brand.
- Carefully choose the timing to take advantage of holiday buying or provide cash flow during slower periods.
- Use multiple marketing channels to broaden your exposure, tailoring your advertising to each platform’s audience.
- Include all promotion details.
- Use analytics to gauge your campaign’s successes and areas that need improvement.
You can use apps that integrate with your Shopify site to facilitate your GWP campaign and encourage engagement while a customer is browsing through your online store or at checkout.
Why Choose ADG as Your GWP Marketing Partner?
ADG offers several apps that integrate seamlessly with Shopify to enhance customer experience and maximize your earnings. You have full control of your GWP marketing campaign, but the apps function autonomously to engage customers in real time. You can view a demo store to see how our apps work, and we offer a free trial.
If you have questions about how we can help with your GWP marketing, contact ADG today. Let us help you be more successful.
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