Freebie Marketing is one of the latest ways to promote your product or service. The razor and blades industry model is an old industry model where one product is sold at a significant discount to boost sales of an affiliated good, like consumable goods. For instance, printer cartridges usually cost about fifty cents apiece, so if you sell fifty cartridges, you make five dollars. However, it costs about ten cents to manufacture each cartridge, so that means you lose out on about five dollars.
This is an example of an indirect freebie marketing strategy
Your company might be a service business, in which case, the products you sell are commodities whose use is not direct. A great example of this kind of business is a travel agency. Travel agents give away discount hotel stays, vacation packages, and gift cards for the things they have to offer. In fact, the majority of agents now do this, because it is the most effective way of keeping their overhead costs down.
In affiliate marketing
Instead of selling a product, you offer a freebie or a complimentary service. For instance, the leading freebie marketing sites offer information products like ebooks, newsletters, e-courses, and video tutorials. These are typically low-priced items, which means that they can be offered to a large audience without too much difficulty. In many cases, the cost is lower than that of producing the item itself, so the audience is not necessarily small. And, in most cases, they do not need anything tangible, just an idea of what the offer is, and a clear call to action.
always keep your customer’s interests in mind
So, how to use it to grow your business? The best thing about offering freebies is that you do not have to worry about giving something away if you do not want to. That leaves more money in your pocket! Promote your freebies using all kinds of methods. Put out a signup sheet at meetings, attract email addresses by asking visitors to fill out a survey, or run a contest on your site and offer a prize for the winner. Just remember that you should always keep your customer’s interests in mind when choosing giveaways so that your customers feel like you’re actually interested in them as a customer.
encourage your existing customers to leave their email addresses with you
Another way to grow your freebie marketing business is to encourage your existing customers to leave their email addresses with you. That way, whenever they have new products to suggest or if they have any questions about your company, you will have one of the most effective customer contact tools out there. Additionally, when you use email marketing to promote your freebies, you will dramatically increase your website traffic, which is always a good thing. Increased website traffic makes your website more successful because it means that you will have more customers who will buy from you and more people will find your website.
give away something of value to your customers
The last way that you can use freebie marketing effectively is to give away something of value to your customers, whether it is a report, a video, a t-shirt, or any other kind of downloadable information. In many businesses, you will find that these items are much more valuable to the customer than simply having your logo on them. In fact, it might even be better, because you can use them in the future to remind your current customers of your great service, even after you’ve moved on to greener pastures. Again, though, you need to entice customers to visit your site by enticing them to download or sign up for your newsletter, so be sure that you always keep your customer contacts updated on what you’re offering.