One thing you can guarantee in life is that everyone loves free stuff. Who doesn’t, right? Some businesses, however, don’t like the thought of giving anything away for nothing. But are they missing a trick or two? The truth is that whatever industry you are in and whoever your customers are, giving away freebies can result in a lot more opportunity to grow your company and make a name for yourself. Here are a few of the benefits and reasons why you should never ignore the option of giving away something for nothing.
When you are starting out in business, you have to ask yourself why your audience should trust you. It takes a long time to earn the kind of respect you need to be successful, and the vast majority of your potential customers won’t be prepared to take a punt on a product or service they know nothing about.
Return on investment
A good example of this in action is the little samples of new food products you might get served at your local grocery store. And the results can be significant – sales usually blow up just because you have given the customer the opportunity to try before you buy.
It doesn’t have to cost a fortune
Physical products – promotional t-shirts or posters, for example – are another great way of giving something away for free that also has a promotional value. And while there are delivery costs attached, they don’t have to be huge. If you visit Postal Tube Shop or pop into your local Post Office, it’s easy to see how cheap all kinds of packaging can be. It’s also worth pointing out that when people are getting something for free, they are often happy to wait. There is no need to pay over the odds for next day delivery and all those kinds of services. You can also limit your costs by only giving away freebies to local customers.
The beginning of the sales funnel
If you are offering a service online, getting people’s email addresses is just about the most important thing you can do. Ultimately, however, why would anyone hand over their details to you for nothing? Give them something of value in return, though, and it’s a different story. It could be an ebook, a white paper, or anything else that might help them out in their life or business. And once you have that all-important email address, you then have the option of warming up a cold prospect until they are boiling hot and ready to buy.
When people receive acts of perceived kindness – or just great basic value – they often talk about it. These people might pass on your details to friends and family, share your products or services on their social media accounts, or even recommend you to other businesses. People talk – but you have a job on your hands to get them chatting. Free products or advice can give you that boost that every new business needs.
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