As a small business owner, giving away your products and services for free might seem counterproductive. You will have spent time and money on them, so to go unpaid makes little sense. In the short term this may be true, but if you have a long-term goal, giving away products for free can have a huge impact on your endeavours. Read on as we discuss why your Beverley small business should consider giving away things for free.
Utilising Free Samples
Samples are the best way to give away things for free. They can take many different forms depending on the type of small business you have. For example, if you provide a product then you may wish to provide smaller amounts as a sample. This works well for restaurants and takeaways, which can let people sample the food they serve.
If you have a service-based business, think of using tiered systems. People may get a basic service for free. This is then added to depending on what the follow-up is. For example, if you have a business dealing in energy efficiency, you may give free house checks. You can then offer a range of ways energy efficiency can be increased, with different tiers depending on budgets. Streaming services like Netflix.com use this, increasing the level of service depending on how much you pay.
Discounts and Bonuses
Another method is to provide a discount. In this way, you are only giving a part of your profit away for free. Discounts can be applied in sales, or they may be provided as a way to reward loyalty. For example, you may give coupons for money off the next purchase. This is popular with supermarket loyalty schemes, like the one at Tesco.com.
Bonuses are the opposite but can be used in the same way. They add something of value when people make a purchase. A store may provide a gift with a purchase. Takeaway services often give free drinks and small desserts with large orders.
Some industries have managed to grow hugely using this marketing strategy. The online casino market is one area that uses lots of bonuses to entice new customers, and it has increased its customer base across the globe by doing so. Websites like kingcasinobonus.uk rank operators based on bonuses alone. This shows how serious they take it, and with a good range of them blending matched deposits and free spins, they can and have attracted a lot of new leads.
The Impact of the Freebie
Giving away products and services for free will have a marked impact in several areas. On a practical level, it lets people sample your business. If they like it, they may return and spend money on more products or bigger ones, leading to a lot more conversions. Secondly, it increases your brand awareness. If people sample your product, even if they don’t return immediately, they will know you. When the time comes, you will be one of the first people they contact. This is a great way to foster loyalty.
If the prospect of giving away things for free is just too much of a strain on your budget, then consider giving away your time. Go into the community, visit local events and help out with charities. This will get you known in and around Beverley. Soon, you will find that the freebies turn into a stream of healthy profit and revenue.
