Freebie Marketing is one of the most successful ways for any Internet Marketer to make money online. The razor and blades approach is a very popular business model where one product is sold at an extremely low price so as to increase sales of an associated good, like consumable goods. For instance, computer hardware requires parts, and most games require software and accessories. Therefore, if you can offer people a chance to buy a product that they need, and at an extremely low cost, then you can make money from any marketing activity.
One of the biggest advantages of freebies marketing is that it is extremely cheap to do
For instance, if you are giving away products like pens or paper, then there is no need for you to invest in a huge advertising budget. All you have to pay for is your time, and that is what most Internet Marketers call “time”. Therefore, it is not surprising that many internet marketing gurus consider freebies as a key part of their overall advertising mix.
As well as being incredibly cheap in comparison with other forms of Internet marketing
freebies are frequently unique or special in some way. Many people use freebies to build up their own customer base. For instance, if you offer free ebooks on a topic that you know is of interest to your target market, you are likely to attract a number of new potential customers. In addition, freebies are great for marketing because they can be very effective depending on the target market you are trying to attract. For instance, if you are offering free laptops to college students, then you want to offer something useful.
You could use the concept of the triad concept to explain the benefits of freebie marketing
For instance, a triad strategy will tell you that you should offer three things to your target market. You could then call it your “3-Trip” strategy. Your first triad offering would be a free eBook on the topic of your choice. Then you could follow up with additional reports, webinars, videos, etc.
Freebie Marketing is a very powerful online marketing strategy
However, many businesses often use the freebie concept as a cover for their own sales funnel. Therefore, before you start offering freebies, make sure that you have a solid freebie marketing plan in place that leads prospects through to your sale. You should also make sure that you are offering quality freebies along with other marketing tactics to grow your customer base.
By offering freebies you can also grow your customer base
So, if you are looking for a great way to expand your business, why not consider offering freebies? By doing so, you will have an excellent opportunity to reach out to your target audience and create many new prospects. Moreover, by offering freebies you can also grow your customer base.