Everyone loves a freebie. Just take a food market – where do the crowds congregate? You can bet it’s the stall giving away free samples of their freshly made produce.
Now, let’s transfer that over to your business. If you’re operating largely online, what’s the substitute here?
Well, you could include a freebie with a regular order, to introduce a new product to an already paying customer. Or, you could incentivise a casual visitor to your website to sign up to your newsletter, with a promise of providing them with exclusive content packed full of helpful information – otherwise known as a lead magnet.
But when it comes to giving away free content, where do you draw the line?
Am I giving away too much?
There’s certainly an argument to be had for giving away items, or helpful information, for free.
Why? Because providing prospectives with a taste of what you have to offer can be enough to convert them into full-paying customers.
By sending out a quality sample that is tailored to your target audience, you are displaying that your brand can solve a problem for that specific demographic. But it’s good to know when to reign it in.
According to Forbes, a counter argument for giving away products for free is that:
“As human beings, we tend to attribute value to things based on how much we pay for them.”
Following this logic, giving away too much content can run the risk of decreasing the perceived value of your product in the minds of your audience.
However, there is certainly a balance to be struck. If you’re setting up a new training course, for example, or a series of webinars, providing a free trial service to your target demographic before they lock in with a subscription is seen as commonplace. It can give prospective clients a perfect opportunity to get a glimpse of your expertise, revealing how your full masterclass could solve their problems. It can also increase customer trust while raising awareness of your brand, seeing you become an authority in your industry.
If you’re interested in learning more about the benefits of lead magnets, why not reach out to Engage Web today?
- When can I expect to see results from my SEO campaign? - October 7, 2024
- Are you giving away too much for free? - October 1, 2024
- How do I create a great homepage for my website? - September 23, 2024
