Master the Art of Business
A world-class business education in a single volume. Learn the universal principles behind every successful business, then use these ideas to make more money, get more done, and have more fun in your life and work.
What Is 'Free'? (Marketing)
Giving something away for Free attracts attention quickly. People love getting something for nothing. Free gives your potential customers a chance to experience the value you provide. It may net you sales that you wouldn't have had otherwise.
It's critical to remember that attention alone doesn't pay the bills. Focus on giving away real value that attract real, paying customers.
Josh Kaufman Explains 'Free'
If you want to attract attention quickly, give something valuable away for Free.
People love the promise of getting something for nothing. You've probably seen free samples of food being given away at the supermarket, or received an offer to try a product or service for a certain time at no obligation. Chances are, at least a few of those free offers have led you to purchase more. Offers of free value continue to exist because they work-the free value is subsidized by the additional sales that are made because of the offer.
I started my teaching and consulting business by giving away my research and writing for free on my Web site. As a result, hundreds of thousands of people find (or are referred to) the Personal MBA, benefit from the information, and come to trust me as a useful resource. More often than not, they give me permission to continue providing even more useful free information via e-mail.
Periodically, I offer to meet with prospective consulting customers by phone for free-there's no obligation whatsoever on their part, and I don't hold anything back. Every time I make this offer, I receive hundreds of inquiries, and meet many new and interesting people. A good percentage of the people who accept a "free sample" become paying customers, making "free" the foundation of my teaching and consulting business.
More often than not, offering genuine free value is a quick and effective way to attract attention. By giving your prospects something useful at no cost up-front, you earn their attention and give your potential customers a chance to actually experience the value you provide. Done well, this strategy will net you sales you wouldn't have made otherwise.
Giving free value attracts attention, but always remember that attention alone doesn't pay the bills. The siren song of "going viral" encourages many business owners to continually give away too much in an effort to chase attention over establishing and improving the profit-generating parts of their business.
Attention is necessary to attract paying customers, but it can't sustain your business. For best results, focus on giving away real free value that is likely to attract real, paying customers.
Questions About 'Free'
- How could you take advantage of the attention-grabbing nature of offering free value?
- How will you translate that attention into real prospective customers?
"To charge nobody nuthin' is a guarantee of no profit. Getting attention is not the same as getting paid."
Joseph Ferrara, intellectual property attorney
Marketing
Master the Art of Business
A world-class business education in a single volume. Learn the universal principles behind every successful business, then use these ideas to make more money, get more done, and have more fun in your life and work.
About Josh Kaufman
Josh Kaufman is an acclaimed business, learning, and skill acquisition expert. He is the author of two international bestsellers: The Personal MBA and The First 20 Hours. Josh's research and writing have helped millions of people worldwide learn the fundamentals of modern business.
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