Looking to do something new for your business that will help you get more feedback on products and ultimately more customers? Then I think it’s time we talk about why offering free products and services is good for business.
There’s something that makes business owners cringe about the word free, but I’ll be honest with you, there are a TON of great benefits that come along with offering stuff for free. So, before you shoot down the idea, let’s talk about it:
Here’s Why Offering Free Products Is Good for Business
#1 It’s a Great Marketing Opportunity
Free is most people’s favorite number—heck, it’s my favorite number. Free is a great way to market your business because it gets people’s attention. It gives you the opportunity to talk directly to your customers instead of wildly shooting marketing out there on the world wide web and hoping it lands somewhere.
I don’t know about you, but when I come across something that says “free” whether it’s a trial or product or even an eBook, I take a look to see if it might be good for me. More times than not, it’s not the right fit, but if it is, I jump at the opportunity to give it a try.
#2 It Helps Ease People In
This is especially the case when it comes to businesses with a higher pricing scheme or software and apps that require a long-term commitment to see real progress. Free products give people a chance to “test” out the vendor before going in full-force and investing a lot of cash.
I don’t know about you, but I love free trials for new software. While I prefer a trial that’s 30 days, especially if it’s business software, even something as small as seven days will help me figure out if the product is right for me. If the product is, I buy it and they get a customer until I outgrow it. If it’s not, we part ways and nothing was really lost on either end.
#3 It Helps Build Customer Confidence
Loyalty of customers is created by bringing them extra value and proving that you’re truly on their team. When you offer your customers (or prospects) free stuff, you help to build that confidence with them. Once you’ve established that confidence it’ll be much easier to sell products long-term.
Customer confidence is something that a lot of new business owners don’t focus on. They create something and assume that they’ll be able to make a killing off of it because it’s a great product or service. But it doesn’t matter how great you are if no one’s confident in your abilities.
#4 If They Use It (And Your Product is Good), You’ll Make More Sales
Chances are pretty good that if your product or services is a good one and your customers not only use it but enjoy it, then you’re likely to make more future sales from them.
It’s not an exact science, there are a ton of reasons why people do and don’t make purchasing decisions. But if you can connect with your customer’s on that level and they decide it’s right for them, you can typically count on recurring sales.
What’s your opinion on why offering free products and services is good for business? Share it in the comments below
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Tae started out as a journalist before following the money into the corporate world. But it turns out that the grass isn’t always greener and now you can find her spending most of her time writing about all the things she loves. Namely, money, travel and business with a hefty dose of self-deprecating humor. She is a podcast fanatic, blogging aficionado and loves to find new ways to turn passions into cold hard cash!