FREE SAMPLE MARKETING PLANS

By | February 14, 2019

Introduction

There are two things that a marketer needs to overcome to convert a prospect into a buyer. The first is a prospect’s objections and the second is a prospect’s tendency not to take action.

One way to overcome these obstacles is to make an offer that your prospects will find irresistible. Freebies or giveaways are often appealing to prospects. Everyone loves to get something for nothing!

Why Give Away Something for Free?

Some companies are resistant to the idea of giving something of value away because of the cost. This is of less concern for information marketers, since the overhead on information products is relatively low.

The important factor to consider is the lifetime value of the customer. In other words, if it costs $5 on average to give away something to a prospect and the average first purchase the customer might make is $6 – it might at first seem like too small a margin to justify the giveaway.

It is important to factor in the lifetime value of that customer. Over time, customers will make additional purchases. Especially if they feel they’ve gotten value from their first purchase. Over time, this amount adds up to much more than the $5 spent to acquire that customer in the first place.

What Should You Give Away for Free?

Information marketers have lots of opportunities to give away freebies. For example, you could give away the first class in a video course, the first chapter of a book, or a free report.

Giveaways can demonstrate the quality of a product at no risk to the prospect, generates a feeling of goodwill toward the company, reduces the perception of risk in the prospect’s mind, and starts a habit of purchasing your products or services.

A Word of Warning

Don’t overuse freebies, as this can have the opposite effect and instead create a perception that the product has no value.

Some retailers have hurt themselves by offering too many discounts and sales. Customers become trained to wait for sales to make purchases.

In order to avoid this, make sure to target your giveaway carefully. Make sure that your giveaway will be enticing or meaningful to your target audience.

An example of a good use of a giveaway is to offer free copies of your product to experts in your niche. These experts might give your product good reviews creating powerful social proof without watering down the perceived value of the product.

Create Something of Value

Also, make sure that your giveaway is useful and hard to toss aside. The more value you create in your giveaway or incentive, the more your prospects will trust you and your products.

One example of this was a company that gave away a popular hardcover book with purchases of their product. The books cost less than the profit margin of the product, but they contained great value and were hard to simply throw away.

And make sure prospects are aware of the value of your giveaway. If a freebie has a dollar value, include that in your marketing materials. People love to know exactly what value they are receiving.

You will foster a feeling of goodwill, prospects will feel more inclined to buy from you out of a sense of reciprocity.

With Value comes Incentive

A giveaway can be shaped as an incentive, such as free gift with purchase. This increases the perceived value of the purchase and in some cases can remove the risk from the purchase. For example, a tax preparer could include a free review to find any missed deductions.

An incentive like this removes the perception of risk associated with the purchase and can result in more sales.

Affiliate Products

If you are promoting an affiliate product, create a short report filled with valuable, actionable advice. Strategically place links for your product offer within the report and give it away for free on your website or Facebook page.

You can also use a freebie incentive as part of an advertising campaign. This has been done very successfully in the past. Just be sure to test carefully to make sure the campaign is profitable.

Final Review

When done correctly, giveaways and freebies are one of the best ways to convert prospects to customers. A giveaway creates a feeling of goodwill and reciprocity with your prospects. It also allows them to try your product or service risk-free.

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All the best,

Tom

 

 

6 thoughts on “FREE SAMPLE MARKETING PLANS

  1. Boby

    Great insight into the value of freebies, I think most of the newbie marketers can learn a lot from your content.
    Personally, giving away free stuff is one of the best blogging decisions I’ve ever made, it’s building my email list like crazy.
    You’ve done such a good job pointing all the benefits an excellent freebie can bring to marketers.
    Hopefully, you’ll keep sharing this article so more newcomers could learn from it.
    Again, well done!
    Thanks for sharing.

    Reply
    1. Tom Post author

      Hi Boby,

      Thanks for your comment and the encouragement, really appreciate it.

      I’ll do my best to keep sharing so others can benefit, definitely. You’re right, giving away free valuable content is definitely one of the best ways to do business and most importantly help others.

      Thanks again for your comment and all the best,

      Tom

      Reply
  2. Jose Reyes

    Hello Tom,

    Thank you for making it simple for me to understand why it’s important to offer freebies to potential prospects because what people love more than getting discounts or coupons, is the possibility of getting something of value for a small price, even if its little or close to nothing!

    What I would love to know is how do we go about making our offers more appealing or more irresistible to pass up?

    In fact:

    How do we go about creating these offers?

    Thanks In Advance,

    Jose

    Reply
    1. Tom Post author

      Hi Jose,

      Thanks for your comment.

      Your freebie can be in the form of an E-book, report or a video. It could even be a one on one consultation with a client.

      As far as making the content, you just need to write about a topic that you know a lot about, make it a valuable report or E-book and then package it by using a software called canva. You can make E-book covers and report covers using this, and its really simple and free.

      With video you can make a presentation video by using camtasia. This is also a really simple process and you can host them on you tube and post them on your blog and social media channels.

      Good luck with trying these techniques out and if you have any issues then please let me know.

      All the best,

      Tom

      Reply
  3. Hanna

    Great article!
    Thank you for sharing this post! I do believe in freebies. You are right, people are into this thing. This is a way to have leads or prospect buyers.
    I will for sure add this to my “things to do” as i am just a beginner on online marketing.
    All the best!

    Reply
    1. Tom Post author

      Hi Hanna,

      Thanks for your comment.

      Good luck with putting your freebies together and testing them. Let me know how you get on and if you need any help then please let me know.

      All the best,

      Tom

      Reply

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