When you are running a business, giving out free stuff might be the most important thing you aren’t doing right now. Learn how some freebies up front can help you convert more customers faster.
Let's get right to it: Giving away free stuff to your customers is a smart way to introduce them to your product or service.
It automatically creates a win-win situation: They get to try out a product or service without feeling like they paid for it or had to commit.
But here's the thing: They did commit.
Because time is just as valuable as money, and by giving your product or service a test drive, they are more likely to come back because they experienced the value, and since they had that experience, they will more likely feel an emotional obligation to reciprocate it.
Common Examples of Freebies
There are so many examples of freebies all around us. The most prominent example is a free trial.
For example, digital services usually provide a one-month free trial for you to test-drive their product. As stated by Forbes, businesses have a hard time getting traction with customers since they need to sell their products aggressively. This can be off-putting for new customers. But by giving them a no-risk and no-obligation option to try out the product, more customers will be willing to give your new product a test drive and experience the value first-hand.
Another very common freebie example is free samples. How many times have you gone into the grocery store and asked if you wanted to try a sample?
These aren’t just done because the store wanted to give the product a spotlight. They are actively trying to push a product to you in a way that you can be more receptive to it without the cost barrier.
The moment you take that free sample, you might feel the need to purchase it as a form of emotional reciprocation for them giving you that sample. Or perhaps it was a new product that you never had before, but didn't want to commit to buying the whole box without knowing if you'd like it or not. Now that you know you like it, you're more likely to buy it.
How to Determine the Best Freebies
Freebies are a way for companies to spend a small amount of money for the promise of bigger returns.
So now that you know more about how companies utilize freebies as a form of marketing, you might now be asking yourself how to make a great freebie without breaking the bank.
A freebie has three main objectives for it to be seen as useful in marketing.
Must generate brand awareness.
Must be low cost on your end.
Must generate trust between the business and customer.
By doing the following, you will be able to get more leads and generate a great loop in which the customer will remember how you were willing to give them something first.
Also, remember, a freebie is the most effective when:
It's easy to implement
The customer receives the freebie as soon as possible
The freebie is high-quality
Everyone likes free stuff, but not when it's junk, misleading, or simply not helpful.
Depending on your business, a freebie can be anything from low-priced branded merchandise like a pen, free consultation, or even a simple PDF. As long as it generates brand awareness, doesn’t cost you a lot of money, and builds trust, it will get people talking about you.
More Popular Examples of Freebies
Consumers are savvier than ever when it comes to researching products and services before buying. Nowadays, with so many businesses claiming to be "the best," you now have to work harder than ever to win new customers in a crowded marketplace.
Freebies are a smart way to draw in new customers and showcase what your company is all about.
Freebies and Other Marketing Strategies with LeaseMyMarketing
LeaseMyMarketing customizes strategies to help you figure out the best way to attract new customers, such as freebies or other lead generation tools to help you stand out from the crowd!
Contact us today for a free consultation, and let's work together to grow your business!