Free”. There is no word that excites consumers more than the word “free” or “free trial”. It is instantly accompanied by curiosity, even if it’s a service or product that that individual would not normally consider. Offering a free give away or trial can be a powerful and effective marketing strategy for any business.
The first reason that trial offers work so well is because you are giving your prospects a chance to test your product or service in a risk-free way. More than likely, they will recognize the value of the product or service and continue to purchase it. In the best case scenario, they will become “hooked” on it and decide that they cannot live without it.
Another reason has to do with a form of psychological pressure. Because they feel that the product or service was given to them as a free gift, they will feel the need to show gratitude. They might feel that purchasing from you is a way to return the favor, so to speak.
When considering making such an offer, there are a few things that you need to take into account first. You must know your “total customer value”; this refers to the profit you will receive from your customer over the length of your relationship.
According to David Frey of frugalmarketing.com, “this figure includes not only direct business, but also the value of any referrals”.
You must also be wary of making your offer appear to be “too good to be true”. Doing so risks decreasing the believability of the offer along with your credibility. How can you achieve believability? Be sure to reveal to your customers how you are able to offer them such a deal.
Incorporating free giveaways and/or free trials into your marketing strategy can be very effective. Just be sure that you first consider what you are able to offer them that would not only be of value to them, but also be cheaply at your disposal.
If you are considering such a strategy, you might be interested in a trial offer merchant account. Merchant accounts with eMerchantBroker.com are easy to apply for and funds are received quickly after acceptance. Don’t allow your business operation to be delayed any further, let eMerchantBroker.com help you to strengthen your marketing strategy today.
About the Author:
Blair Thomas is a successful entrepreneur who co-founded EMB, the top trial offer merchant account processing firm in the country. He has managed several successful agent offices and registered ISO’s. When he isn’t working hard in the payment’s industry you can find him hiking the hills of Los Angeles. Check him out on Google Plus
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