The old adage “you get what you pay for” is a good bit of sound, but it’s simply a myopic perspective based on a misinterpretation of the value of “Free.” The ultimate marketing hook has always been, still is, and will continue to be the “Free” giveaway. Free doesn’t diminish the value or fall short of a premium provider or brand… Rather, “Free” is simply a very clever way to play to its strengths. In today’s blog post, I’ll examine the lost art of how to use “Free” as a strategic marketing advantage.
Brand snobbery is not the key to success, and very rarely will someone make a buying decision based on a positioning strategy of proven arrogance. A key focus area should be establishing a bond of trust and building credibility with your target market. Plus, anything you can do to remove barriers and shorten the sales cycle is time very well spent. Nothing gives you the opportunity to demonstrate competence, overcome objections, and communicate unique selling propositions better than a “try before you buy” strategy. It’s very rare that you talk to an executive or entrepreneur and can’t come to an agreement, so why wouldn’t you want every opportunity to do so?
If you think free offers are for discounters or brand names, or are not used by busy or successful professionals, I encourage you to reevaluate your thinking, as you may be missing out on opportunities. Our firm has a premium brand and we use giveaways as a key component of our marketing strategy… I am a very busy executive with numerous operational responsibilities at the corporate level, as well as maintaining a personal consulting practice. I charge up to $5,000 a day for my time and receive a fee of $7,500 for speaking, and yet I take the time to write this blog and often give my time away without cost or obligation.
You will find that the most sought after professionals will always invest their time, as they have nothing to hide and everything to gain by doing so. From my point of view, the best thing that can happen is for prospective clients to talk to other firms and then for them to talk to me… I certainly don’t want to do anything that gets in the way of letting the client compare me to my companions.
Simply put… free consultations, free access to white papers or articles, performance guarantees, discounted, tiered or combined pricing models, rebates or any number of other incentives that incorporate a free offer will count as The result is increased sales and customer loyalty. Still not a believer? Call me and see what happens…