People use free offers to entice a new audience, but the danger is that you could end up devaluing your offering before they’ve even experienced it.
In this VLOG, Grant explains that by putting a value against the offers that you make to your customers, you could often reap better rewards.
There’s always exceptions to any rule, but as a rule of thumb, there is no value in free.
People use free offers to entice a new audience, but the danger is you end up devaluing your offering before they’ve even experienced it.
For example, if you’re a coach, rather than giving a free coaching session away, you could say that “the coaching session is £150, but if you sign up for a series of 10 after you’ve tried it I’ll refund the first session.”
This brings us to our second point, that if you are going to give something away, make it conditional on some other action.
For example, you may decide to give away a 30 day trial of a software product but you can make it conditional on attending a 20 minute webinar. In this way, you get an opportunity to engage with your audience and explain to them the virtues of the software, making it more likely that when they do trial the product, they’ll find it useful and enjoy it and, therefore, subscribe later on.
It’s very easy to give away things for free, but even when you get your audience’s attention, you often don’t get the results that you’re looking for. By being a little bit more creative and putting a value against some of the offers that you make to your audience, you actually will often reap better rewards.
Great insights! Giving free offers or items will surely entice customers to make the purchase. Who could resist a freebie, right? We usually look at the bright side of doing this, but sometimes we forget to take into consideration the fact that we are value devaluing our offering before they’ve even experienced it. Yes, I totally agree that if we are going to give something away, we’ll make it conditional on some other action. Thank you for reminding us about this!
Thanks William for your comments. I am glad that you enjoyed the insights. Understanding any giveaway in the context of your offering is really important.
Great thinking….make free conditional. So right and so easy to overlook.
Thank you Chris. I am glad that you appreciated the video.