Making money online doesn’t have to be hard. Many are aware of, and have employed several marketing techniques for online businesses, such as search engine optimization, having a social media presence, and pay per click advertising, and yet, they don’t believe they are anywhere near reaching their goal of making good money online, which can be very frustrating. Giving free stuff away is another great marketing method which is so effective, but sadly, hasn’t been tried by many online business owners for a number of reasons. If you are wondering why it works, then here are some answers.
Why Would It Increase Profits?
It may sound paradoxical, but giving away stuff for free does increase profits. A common economics principle states that when prices fall demand rises. Giving away free stuff is the lowest price you can charge for your service, or product. If you are offering a service, or a product, when you give away free stuff, customers use it and become accustomed to your brand. When this happens, whenever they need to upgrade their service, or whenever they look for more offerings, they won’t go anywhere else, but would come to you, because they are already used to your brand. This is particularly true because many people who want to start an online business don’t have the capital, and so they will happily seize any opportunity to reduce their costs by using free products and services.
What To Give Away?
Determining what to give away for free can be a headache for a number of people. In giving away freebies, you have to be purposeful so you don’t waste resources, and you also have to be sure that what you give out is valuable, so that potential customers will like it. If you have an online service, create a stripped down version of the service you are offering, making many core features available for free. You could also think of one or two items, or services, that you could give away freely without unduly spending any money. When customers know that they would get some extra perks or bonuses, when they deal with you, they will keep on coming to your website.
Turn Your Give Aways Into Profits
If you do it well, your profits may start flowing without additional efforts. However, displaying some promotional information, whenever a customer logs in, or whenever a customer uses your service for free can increase profits. Whenever possible, do collect email addresses, and then do email some promotional info from time to time. In order to turn your giveaways into profits, you could create limited time offers, which will force users to make a purchase, when the trial ends. If your products aren’t time limited, then ensure that they are feature limited.
Now that you have the secret blueprint, you are well on your way to increasing your profits, but don’t forget that you will only get your desired results when you use these principles consistently.
