Freebies: Kicking the Cheapskate HabitJune 22, 2013
One Magic Word That Works in Marketing
There is a magic word when it comes to marketing... What’s the magic word? You got it! It's… FREE! It’s the basic foundation of Marketing 101. That four-letter word captures almost everyone's attention, and spells success.
Now for the big question, “Are you implementing it?” No, I'm not talking about those old information items that are jam packed full of old content that doesn't work anymore.
I’m talking about the real deal… something that’s valuable, just being given away, no strings attached and no hidden costs.
Chances are that you’re probably just like me and many other people out there, and are a little afraid to just give something very valuable away.
Heck, it costs a LOT of money to just throw products out the window to everyone who looks your way. We know how many people are out there like leaches, just looking for a handout, right?
Maybe… Or maybe we cut ourselves out of a huge chunk of profit by being cheapskates. Yes I said it, cheapskates!
Think about it like this...
How can you effectively describe the taste of a crispy salad with all the trimmings, and a hot steaming turkey sandwich? Aren't there a dozen restaurants that serve these items on the menu?
Would a restaurant owner be a fool to give away 1000 FREE lunches instead of trying to describe in words? The tantalizing aroma, succulent tastes, and tasteful appearance. Couldn't the actual food do a better job convincing, and do it in a way no words could ever explain?
Sure, it might cost $5000, but how much higher would conversion rates be?
It sure doesn't take long to rack up a $5000 dollar advertising bill with local TV and radio stations, or the newspaper. Will they net as many converted consumers?
Now you’re probably not into the food industry, but there is something you can give away that will have the same affect. Maybe it’s a free informational seminar, a free oil change, a free subscription, or a free haircut. There is always something in your niche.
The key is to get people in the door, and WOW them with the best you've got to offer!
Believe me, consumers know when they're being handed cast-offs and when they’re been wined and dined like royalty.
You be the judge… which do you think is more effective?
Most of us have come to expect the hidden agendas of giveaways. When we accept a gift, we’re looking for the “catch.” It’s a pleasant surprise to come across the “real deal.” We’re taken aback!
We scratch our heads and wonder, but deep inside there’s a warm fuzzy that sticks around. We remember genuine generosity!
The next time you’re looking for a way to increase revenue, and are tempted to take the cheap way out, scrap the urge. Go all out and treat your customers to an old-fashioned, honest-to-goodness FREE gift. See what happens!
Hey, I didn't say it would be easy or that it wouldn't take guts! Just remember that sometimes the biggest risks pay off big, and that risk takers generally come out on top. Go the extra mile, and stand out above the competition… even if it scares you a little bit.
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