Have you ever wondered why other companies tend to attract customers? There is probably a time in your life that you passed by a store and found a long line of people patiently waiting to reach the counter. When you discovered why, a considerably expected thing is revealed – freebies are being given away.
People love giveaways, and so do you. If you want a leeway to attract people into your business place, why not trying doing so? You do not essentially have to give your products for free. You can think of other ideas, such as stationeries, t-shirts, caps, and mugs.
Larger Customer Base. As claimed by professionals, including David Skok of For Entrepreneurs, a free strategy will result to an expanded customer base. Take note that these people have the tendency to become your loyal clients in the future.
Greater Investment Appeal. Once probable investors saw that you have a fair market share, not specifically because of your giveaways, they will be more willing to finance your firm. For them, regardless of whether your customers are new or loyal, they represent the forecast of your company’s profit increase.
Golden Feedback or Review. If you will simply observe it, clients who prefer not paying are ruder than the rest who are willing to compensate for your service or product. Nonetheless, these customers’ reviews are golden. In the case of satisfying them, they could be great sources of word-of-mouth marketing. Besides, they are more likely to talk about your customer management.
More Chances of Trial. There are people who are often doubtful of your service or product quality. If you will ask them to pay upfront, you will likely lure them away to a rival company they have built trust on initially. By giving away free products, for instance, you will give the clients opportunity to evaluate how reliable your offers are without the obligation.
Reality of Conversion. According to Ioannis Verdelis, Fleksy Founder and Chief Operating Officer (COO), their research indicated that compared to paid product, a huge customer base out of providing freebies will generate more revenue.
By considering the aforementioned facts, you may want to proceed into giving away freebies. Fulfilling this industry-wide demand could be your most awaited strategy to succeed.