Can I Give Too Much Away for Free?

Wow! My first official post here at IBMoms Expert Blogs and from the looks of things, it had better be a good one, right? :-) These ladies are on fire!Many times I’m asked questions about giving away freebies. A common concern among business owners is that they worry about giving away too much for free, which causes them to wonder if by sharing their knowledge with nothing in return they are actually hurting their business. They worry they are actually working against themselves because people won’t buy their paid information products or even have a need for their physical products because they have given away so much for free.

Let me first say, one of the things that makes a business owner a true “sweetie” is our honest desire to help others. Many of us realize that by giving things (whether product samples, advice or something else) away for free we are fulfilling a need BEFORE our potential customers buy. But that’s not all.

Here are just 2 reasons that giving things away for free is important to your business.

Creates Trust

When you give good information and useful advice, you gain the trust of your readers. And no, you don’t have to have a Ph.D to help people and lead them in the right direction with your experience and knowledge. If you guide them in the right direction they will trust your advice, whether it’s a solution to a problem or a product recommendation.

Generates Buzz & Traffic

By giving something away you are getting your current customers, readers and visitors talking about you and your business. They’ll post your giveaway on their own sites, tell their friends and family and therefore you are bringing in more potential buyers that may never have known about you otherwise.

Now before you go about giving your information away willy nilly…

A Word of Warning

Now, please realize I’m not saying you should be giving away ALL of your physical products or creating all of your information products just for the purpose of giving them away. You can’t possibly create a profitable business if you never sell anything. But, what you can do is build on the things you are giving away. Create more informative or detailed info products that have value and will sell. And, if your business is physical products, create and give away things that will help you sell those products.

In other words – when you give information away, always make sure to include an OFFER. If you don’t ask for the sale, it’s pretty tough to get the sale.

Here’s an example. Let’s say you sell candles. Obviously you can’t give away your full-sized candles as samples every time. But, what you can do is give away smaller votives or tea light samples or create a free newsletter that includes exclusive discounts for subscribers.

Or if you have a course that teaches your customers how to improve their tennis game, give them an introductory course that gives them a few tips on making instant improvements. Then offer them the full course. If they found the initial advice helpful, they’re more likely to act on your offers.

You will inevitably run into freebie seekers who are only looking for something for nothing. That is the nature of doing business. Most people who visit your website, take your freebies, etc., will never buy a thing from you. Focus on those who are your target customer and give them the information they need to make an informed decision about your paid products and you’ll do just fine.

Alice :-)

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