- Free is the future of loyal consumers for your business in the 21st century.
- Being a digital company allows a huge opportunity to give a lot away at little/no cost and gain even more
- When your company’s products are based online you have unlimited shelf space which you should use to your advantage to cater your consumers.
- “In a competitive market, price falls to the marginal cost” – Joseph Bertard
- When you compete with your current products you lower your marginal cost which is attractive to your prospective clients/loyal clients.
“Freemium”
- Minority subsidize the majority
- “freeloaders” cost little and are effective in spreading the word of your company
- Free samples/services are absolutely your best marketing solutions
- multiple tiers of products (casual/intermediate/engaged)
- Market segmentation
- Conversion=loyalty (let them try your services out, then convert them into paid customers)
“Feature Limited”
- These features are free versions of your services that gives real utility power that users convert into sales. It’s easy to implement.
“Capacity”
- When your users get a taste of your product and use your services for free to the point they “reach their capacity” which is a very involved way that is almost guaranteed to make a sale.
If you offer free services that actually benefit your customers when they are developing they will almost always come straight to you when they are developed and need your real services.
TIPS:
1) People will pay to save time.
2) People will pay to lower risk.
3) People will pay for things they love.
4) People will pay for status.
5) People will pay if you make them, then they’re hooked.
- Younger consumers have more time then money
- Older consumers have more money than time
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