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Author Bio: Shaheryar provides ghostwriting and copywriting services. His educational background in the technical field and business studies helps him in tackling topics ranging from career and business productivity to web development and digital marketing. He occasionally writes articles for Carpet Cleaning London.
When you invest your hard-earned money in a business, giving free service feels counterintuitive. After all, we want to earn money on the capital we invested, not spend more! Which are what giveaways and add-ons sound like to the untrained entrepreneur.
On the contrary, expert business persons know that freebies payback multifold in the future. Big brands like Starbucks, Nike, McDonald’s, and many others prove this assumption time and again by displaying business growth through their free product strategy.
You can also enjoy significant business growth by attracting potential clients with a free service. Here are 5 ways to achieve hook in potential long-term consumers with a free product or service:
- Generating New Leads
When you entice people with free offers, you get one thing for sure – new leads. On Mother’s Day this year, Pampers held a gift-giving contest. Mothers were invited to submit an engaging and uplifting post regarding motherhood. The top 50 Mothers whose posts received the most likes and comments would receive a free pamper supply for 3 months.
This marketing campaign not only increased consumer engagement, but it also hooked in new mothers who previously did not use Pampers—hence generating new leads. At least 50% of these new leads will end up becoming regular Pamper customers after their free subscription ended. Therefore, in the long run, free giveaways bring in more money than they cost.
Another great example is that of free downloads offered upon subscription. We repeatedly notice promotional messages that toot free e-book, printable, or free access to resources on signing up for the brand’s newsletters. So, to get the free stuff, we sign up for the newsletter, which finds its way in our inbox each week and compels us to buy something from the brand.
The Content Marketing Institute reported about 88% of B2B businesses are currently using free product strategy for generating leads. Similarly, HBR reports that Freemium products have soared globally for their potential of bringing in new customers. For instance, free samples or add-ons encourage people to follow the brand on social media or sign up for their newsletter. As a result, brands get their hands on more potential clients and thus more chances of conversions in the future.
Free home deliveries or free pickup service is another variation of the freemium strategy. A Carpet Cleaning London facility explained that their booking doubled when they started offering free carpet pickups and drop-offs.
2. Encouraging the First Trial
Convincing the client to try the product/service for the first time is the toughest job ever. This is the reason why software companies give a free trial for some time. This time is enough for the customer to judge the service. Lincoln Murphy, a big name in growth marketing, reported that free trials result in about 60% conversions.
Some companies offer free secondary services for unlimited time to entice the client. However, others do not have the budget for this. They grab customers’ attention by offering a free trial or a free service for an initial phase. This gives business owners a chance to show their service quality and dedication. This eliminates the risk factor and increases loyal clientele for the future.
Example:
Several web content writing companies charge no fee for the introductory part. This gives them leverage on those who are charging for everything. Apart from it, customers get a good idea of the content quality before they order all the inner pages of the website.
3. Creating A Buzz
Creating hype about your brand is another possibility of offering free stuff. One typical example is that of social media campaigns and contests. Companies offer free products if you like their social media pages, tag your friends, or share their posts on your timeline. In this way, the brand creates a buzz for the brand.
If the social media marketer takes the right route for contests, this results in introducing the brand to a horde of new people. As per the stats of Easypromos, 99.3% of people share about the brand when it is giving something for free. The benefits are not just limited to brand awareness. Businesses also enjoy more subscribers, high followers, increased engagement, and much more.
At this crucial time, when brands are struggling for higher engagement, free services, and add –ons are an excellent strategy to engage with your consumer and regain their trust. Brands can offer discounts, free trials, and free samples to rebuild relationships and keep their consumers in the long-term.
4. Getting Valuable Opinion
The soft launch of a product is a common practice of many modern-day brands. Getting feedback and the real response of customers is the primary reason behind this strategy. Many brands improve the quality or make small changes after the feedback if required. In this way, when they approach the big market, they can introduce a polished product.
Now, a free sample or a free service is mandatory to compel the potential clients for trying out the product and giving feedback. In these days of intense competition, feedback is compulsory at every step. It is the only way to polish the service quality as per customer expectations.
For instance, some brands offer a free sample for taking a feedback interview while others offer a free delivery service for getting an online review. Google reviews and reviews on social media are a valuable asset in this competitive era. However, clients will barely bother to take out time for leaving feedback if they do not get anything in return.
5. Increasing Purchases
Big names like Walmart and Amazon have set certain shopping limit for consumers to qualify for free delivery. When clients see they can get free delivery for shopping up to a certain amount, they prefer purchasing more instead of paying for the service.
For instance, instead of paying $30 for delivery, a consumer prefers to purchase a product worth $50 and get free delivery. In this way, people end up buying products they did not need. Other strategies like a free shirt on shopping of $200, a free haircut on the bill of $800, or free delivery on $1000 are proven strategies to upscale purchases.
Wrapping It Up
In short, free products and free services are the need of the hour. Businesses can enjoy exponential growth if they fuel up their marketing strategies with giveaways and add-ons. Brands that are standing out from the hoard of competitors are already experiencing higher engagement due to free offers and deals. This win-win strategy is the secret of business growth in this tough time.