23/01/2024
πππ πππ ππππππ ππππ ππππ π
πππ πππππππ ππ
ππππ ππππππππ πππ ππππππππ
Email is free. How come?
If youβre reading this, itβs likely you donβt pay Facebook for this post.
Yet, itβs a multi-billion-dollar companies.
If you watch YouTube, itβs free.
If you use Google, Yahoo, Twitter, or any other social media, thatβs free too.
If you backup your photos and files online, itβs likely you use a free service like google drive.
Guess what?
Itβs not just about making money from advertising.
Itβs about something more.
So, why?
Why do most of todayβs most successful companies give some of their products and services for free?
The answer:
βFreeβ is a very powerful sales strategy.
Itβs a strategy that can significantly attract paying customers, boost your sales, and grow the size of your business.
And thatβs why most top companies use it.
Why should you give some products and services for free
Attracting New Customers: Offering something for free can attract a larger audience and encourage potential customers to try out your products or services without any initial financial commitment.
Building Brand Awareness: Providing free offerings can help increase your brand's visibility and awareness. When people have positive experiences with your free products or services, they are more likely to remember and trust your brand.
Establishing Credibility: Free products can showcase the quality and value of your products or services, helping to establish your credibility in the market. Once customers see the benefits, they may be more willing to consider you when they want to pay for such offerings
Upselling Opportunities: Offering a basic version of a product for free and then providing premium or advanced features at a cost can create upselling opportunities. Users who enjoy the free version might be willing to pay for additional functionalities.
Cross-selling: If you offer a range of products or services, providing one for free can act as a gateway, leading customers to explore and potentially purchase other related offerings.
Reason why giving away a sample of your product or service actually favours you.
But there is a right way and a wrong way to give away free samples.
Right way of giving free sample - Maintain Quality: Even if a product or service is free, ensure that it maintains a high level of quality. A positive experience with the free offering can lead to a favorable impression of your brand.
Wrong way of giving free sample -Unsustainable Model: Relying solely on free offerings without a clear monetization strategy can be unsustainable in the long run. It's important to have a plan for how the business will generate revenue or cover costs.
It's crucial to strike a balance between offering value to users and ensuring the sustainability of the business model.
I hope this helps someone Today!!