Give It Away FOR FREE!
Just held a GREAT conference call on the topic of “PRE-Customer Service.” The idea here is simple: What can you do FOR your prospective customers that is valuable to them that allows them to experience your company and make deposits into their emotional bank accounts BEFORE they ever give you a nickel?
To implement this, you’ve got to have the right mindset–otherwise, you simply won’t do it. You’ll think it’s too expensive, too hard, cheapens your product/service, or some other lame excuse. Instead, as you consider ways to “GIVE IT AWAY FOR FREE” to your prospects, carefully consider the following:
1. Understand the Lifetime Value of your customers: You’ll almost always have more $$ to spend than you think. Too often we only consider “how much will it cost right now?” While cash flow is important (very!), future revenue streams are too!
2. Understand the concept of Reciprocity, and how STRONG it is. When you give something to prospects for free, the very underpinning of societal decorum is at stake. They MUST give back. It’s in the dad-gum DNA… and it comes back in the form of buying stuff from you! If you don’t believe me, test any of these ideas in a small scale setting and watch what happens.
3. Understand the value of List Building and nurturing. You should be psycho about building your list and nurturing it with frequent, valuable touches. What better way to build your list than with giving people something for free (targeted somebodies, that is)? What better way to nurture your list than by giving them something? ??4. Understand the concept of Allocating Freebie Costs As MARKETING EXPENDITURES. I don’t get how some people can shell out huge dollars for a freaking ad or website, but then balk when it comes to giving somebody something for free. The end goal is the same-to get a new customer! If your marketing budget is $10,000 for a month, try allocating $2,000 of it to free stuff for a month or two. Then sit back and watch which part of your budget is paying the biggest dividends.
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