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Freebie- A Business Strategy

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■Manifest and other Benefits  of Freebies in Business

 

Manifest benefits are those benefits that are expected from giving out products, items or ideas for free in business. While other benefits are those that are not immediately noticed but equally take place as a result of your freebie/giveaway.

 

🔥 MANIFEST BENEFITS

 

🎈Business growth: when you give out your product for  free to the public or a target audience and this product is welcomed and valuable, the result is usually  unprecedented business growth. Coca-Cola used this strategy in 1887 and became  the best selling drink company in America, today they’re the best selling drink all over the world. When people try your product for free and it’s good, be rest assured that they will come back to buy more.

 

This strategy equally works for online business, a lot of businesses have drawn traffic to their sites by dishing out free and valuable contents and trainings. A lot now enjoy steady patronage from customers who were first drawn through freebie.

 

🎈Products are preserved for future purposes: if you give valuable freebies and not things that are a step away from the dustbin, then it can guarantee future businesses for you. Having your product will make people plan to patronize you in the future in case they can’t afford you now. Your product will be there to serve as a reminder.

 

🎈Your customers keep coming back for more: if you  give an irresistible freebie as you run your business, be sure that your customers wouldn’t leave. For instance I sell books so I buy more from authors who give me extra copies to cover my transport than the ones who don’t. Look at Starbucks for instance, they give free Wi-Fi access to encourage more customers to enter their outlets. So anytime a customer visits Starbucks, they automatically have free Wi-Fi access. In this age where people are glued to the internet, who wouldn’t go?

 

🎈Product awareness/Visibility: dishing out freebies exposes your products to people who may or may not have heard of it. Visibility usually translates to sales. Even though we have spontaneous buyers or subscribers, there are people who don’t buy a product unless they know it or have heard of it.

 

🔥OTHER BENEFITS

 

🎈Free advert from recipients thereby creating more awareness for your products. I have advertised good products/freebies without being paid for it. The best marketing agent of a firm is a satisfied customer or in freebie case, a grateful recipient.

 

🎈It positions your brand as a company that gives back to the people, thereby creating a sense of belonging to consumers. This psychological advantage ensures stability through loyal customers who appreciate your freebie. Starbucks is a good example. Also the brand called John Obidi. He keeps giving back through valuable contents and trainings and we all love him for it.

 

🎈You become a standard without knowing it. Consumers mention your company or business while pressuring others to follow in your steps.

 

Note: Freebie may not work for all types of products. So find something to give while you sell. If you’re an author you can’t afford to give out your books for free but you can give out a few copies or create a free ebook.

Target groups or companies that can promote your book.

 

For an online business, you can create an introductory course for free to attract the right audience who will then pay to continue to access the more developed aspect of the course or product.

 

🥂 To your continued business growth and success.

 

Lilian Ohanedozi

#Business Strategist

April 2020

#freebieInBusiness

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