The Problem With FREE (And Cheap)BY Natural Tim
ON Branding, Marketing, Philosophy
A fantastic piece of marketing strategy you should include in your arsenal is giving away free stuff so your potential customers can trial and connect with you before they buy.
Guys like Gary Vaynerchuk (who I actually really like and think he has some fantastic, innovative marketing ideas) are constantly telling you to pour yourself out there FREE FREE FREE.
It’s great – but I feel it can all be taken WAY too far.
The FREE is designed as a TASTE.
If they like the taste, great – then you GIVE THEM THE PLEASURE OF BUYING SOMETHING FROM YOU.
Let me say that in another way…
Do NOT deny your customer the PLEASURE in buying stuff from you.
Here’s the thing…
Buying stuff is FUN. It releases happy chemicals in the brain. You are INVESTING in something that you feel worthy of your hard earned cash.
Heck. That’s why we work so hard – to afford things that give us a little pleasure in life.
I bought a new camera a week ago. It was expensive but I thought – hey – it’s going to allow me to shoot awesome videos for my blog and Secret Society crew.
So I enjoyed buying it and using it.
It’s ABSURD to deny your customers this pleasure.
It’s a great feeling when you have the money to buy something you really want and something you enjoy or is going to benefit you in the future.
The other thing is your customers will VALUE YOUR PRODUCT more if they pay for it.
Quick Human Psychology Lesson:
Say you pick up 2 widgets in a store. They are both the same technically but one is a lot more expensive.
If you buy the cheap one, deep down you go home knowing that there is a better one out there.
So if it fails, you’ll kick yourself for not getting the “higher quality” one.
Even though the widgets are identical, the more expensive one will have a higher perceived value.
What’s the real problem?
The REAL underlying problem here is that business owners aren’t superheros.
Business owners have the same self doubt, negative talk and resistance as any other person.
So they sell themselves short.
Now am I saying take any crap product and put a higher price on it and watch the money rain in?
What i’m saying is if you create something of REAL quality and of real value – make sure you charge for it.
In my early business years I sold myself way too short. Working my guts out for customers and clients for well below what I was worth. I’d see other businesses charging WAY more money for inferior services and products. It was a hard pill to swallow. Please don’t make this mistake yourself.
1. Build amazing stuff that REALLY adds value and delivers what your customers want
2. Give them a taste for free, so they trust you and connect with you
3. Give them the pleasure of buying your product
4. Nurture, love and support those customers so they refer you to others
WARNING: Once you go cheap it’s HARD to then go “premium”. Don’t get stuck!
Be the best.
Here’s the scary thing though: You’re going to have to actually be the best. It’s a scary big responsibility and risk that many people aren’t willing to take. So most businesses be the same as every other business.
Step out. Take the risk. Make it happen and don’t forget: Deliver AWESOME stuff.
Here’s a neat video on this:
Hope this helps in you pricing your own Freedom Business product.
Let’s open up the discussion! Leave a comment or question below…
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