Planet Small Business
  • Home
  • Start
    StartShow More
    Small business basics
    Need funding for your small business?
    March 26, 2023
    Best Cheap Startup Businesses
    Best Cheap Startup Businesses
    March 3, 2023
    Cash Flow Management for Small Businesses: Creating Money Out of Thin Air
    Cash Flow Management for Small Businesses: Creating Money Out of Thin Air
    March 1, 2023
    How A Completely Unexpected Email Changed My Life (And I Bet How It Could Probably Change Yours Too!)
    How A Completely Unexpected Email Changed My Life (And I Bet How It Could Probably Change Yours Too!)
    February 28, 2023
    No Money, No Problem! The Ultimate Guide to Starting an Online Business On a Tight, Shoestring Budget
    No Money, No Problem! The Ultimate Guide to Starting an Online Business On a Tight, Shoestring Budget
    February 27, 2023
  • Run
    RunShow More
    How Any Small Businesses Can Turbocharge Their SEO Easily and Quickly (Yes, We Mean You!)
    How Any Small Businesses Can Turbocharge Their SEO Easily and Quickly (Yes, We Mean You!)
    February 23, 2023
    Using Your iPhone to Make Rockstar Quality Small Business Videos (Yes, Even You Can Do It!)
    Using Your iPhone to Make Rockstar Quality Small Business Videos (Yes, Even You Can Do It!)
    February 9, 2023
    4 Ways to Handle That Difficult Client
    4 Ways to Handle That Difficult Client
    December 28, 2022
    Top 10 signs you are a good boss
    December 21, 2022
    Ideas
    How to legally protect your intellectual property
    December 17, 2022
  • Grow
    GrowShow More
    5 ways retailers can break through the clutter on Amazon and make it into a customer’s cart
    5 ways retailers can break through the clutter on Amazon and make it into a customer’s cart
    March 6, 2023
    Sectors With The Most Opportunity to Scale a Business in 2023
    February 28, 2023
    How Any Small Businesses Can Turbocharge Their SEO Easily and Quickly (Yes, We Mean You!)
    How Any Small Businesses Can Turbocharge Their SEO Easily and Quickly (Yes, We Mean You!)
    February 23, 2023
    10-Digital-Marketing-Tips-for-Small-Businesses
    The Best Digital Marketing Tricks for Small Business
    February 7, 2023
    Email marketing
    The Ultimate Guide to Creating an Effective Email Marketing Strategy for Small Businesses
    February 2, 2023
  • Learn
    LearnShow More
    ChatGPT Says it is not going to destroy copywriters or the copywriting profession
    ChatGPT Says it is not going to destroy copywriters or the copywriting profession
    February 3, 2023
    ChatGPT Gives 4 Reasons Why It’s “Not Going to Kill Off Freelance Writers”
    ChatGPT Gives 4 Reasons Why It’s “Not Going to Kill Off Freelance Writers”
    February 2, 2023
    The Importance of a Good Bio
    The Importance of a Good Bio
    July 29, 2022
    Market Research on the Cheap
    Market Research on the Cheap
    May 11, 2022
    Intellectual property
    How to Legally Protect Your Intellectual Property
    May 11, 2022
0

No products in the cart.

Planet Small Business
  • Home
  • Start
  • Run
  • Grow
  • Learn
Search
  • Home
  • Start
  • Run
  • Grow
  • Learn
Have an existing account? Sign In
Follow US
Featured

The Magic Word That Will Explode Your Business

Steve Strauss
Steve Strauss  - Editor May 11, 2022
Share
5 Min Read
Business growth
SHARE

Do you want to create new customers? Do you want to make sure your current customers stick around? Do you want people to love your business? Of course you do. So the question then is – how do you do it? I have a one-word answer for you:

Free.

Studies show that there is no more powerful word in advertising than ‘free,’ and, it turns out, the same is true in both customer acquisition and retention. Offering both current and potential customers alike something extra, something for nothing, is the sort of value-added bonanza that creates and cements relationships.

Consider all of the ways that offering customers extras at no extra cost, and especially something they did not expect to get for free, can help your business:

Why Free is the Small Business Magic Word

1. It creates interest: Let’s say you are a new business and you want to attract attention. What is the best way? Social media? Pay-per-click? Maybe, but just maybe the answer is to offer something people want for free. That will surely capture their attention.

This sort of loss-leader strategy is tried and true and works because:

  • It allows people to try out a product or business with no commitment
  • It gives them a chance to get a feel for the goods
  • It makes them feel like they are getting a deal

2. It gives people a reason to switch: While customer loyalty is not what it once was, it is still real; people tend to find products and businesses they like and stick with them. So you have to give people a reason to 1) leave their comfort zone, and 2) choose you when you do.

Freebies do just that.

First, because there is no commitment involved, offering something for nothing makes it easy for the potential customer to check you out. And second, free creates a good vibe. As you really do not get a second chance to make a great first impression, giving something for nothing helps foster that great first impression.

3. Free makes current customers want to stay your customers: This may be the most important reason of all. We all know we are supposed to appreciate and reward our best customers, but how do you do that, really? Maybe the most powerful way is to give them extra products or services at no extra cost. It is especially useful if you give your customers something they need and are not expecting to get for free.

Let’s say you are a landscaper. You might offer to build a raised garden bed for some of your best clients. The hairdresser can refuse payment the next time her best customer comes in. The virtual assistant can send a $0 invoice after the next project. Do you see how powerful this is? It is a very real and tangible way to show your appreciation for your clientele, and do so in a way that resonates in this economy.

4. Free generates sales: When you offer value-added extras at no extra price to people, they tend to want to thank you in return. And they do that by buying more from you. Those ‘buy 10 and get 1 free’ cards do just that. First, it makes people want to fill up the card, and second, it makes people want to come back and start again after they get the free meal, car wash, whatever.

5. It is great branding: Offering new and old customers alike something extra at no cost has long-term ramifications as well. It reinforces the image that shopping with you is smart, that you offer real value, and that you sincerely appreciate their business. Is there a better brand to have than that?

What can you give away? The answer is, what would your customers appreciate? The dentist can give away a free exam. The florist can give a free bouquet. And the columnist? He can give away a great tip:

Free really works.

TAGGED: business growth, Marketing

Sign Up For Our Newsletter

Get the latest updates, tips, and tools via email from Planet Small Business.
Steve Strauss May 11, 2022
Share this Article
Facebook Twitter Pinterest LinkedIn Email Print
Avatar photo
Posted by Steve Strauss Editor
Follow:
Senior small business columnist at USA TODAY and author of 15 books, including The Small Business Bible, Steve is your host here at PlanetSmallBusiness.com.
Previous Article A Small Business Mentor Will Make You Rich – in More Ways Than One! A Small Business Mentor Will Make You Rich – in More Ways Than One!
Next Article Putting the Family in Family Business; Tips on How to Balance Work and Life While Working with Your Son Putting the Family in Family Business; Tips on How to Balance Work and Life While Working with Your Son
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

You Might Also Like

Small business basics
Featured

Need funding for your small business?

March 26, 2023
5 ways retailers can break through the clutter on Amazon and make it into a customer’s cart
Featured

5 ways retailers can break through the clutter on Amazon and make it into a customer’s cart

March 6, 2023
Best Cheap Startup Businesses
Featured

Best Cheap Startup Businesses

March 3, 2023
Cash Flow Management for Small Businesses: Creating Money Out of Thin Air
Start

Cash Flow Management for Small Businesses: Creating Money Out of Thin Air

March 1, 2023
Follow US

© 2023 PlanetSmallBusiness.com

  • Terms of Use
  • Privacy
  • Contact Us
Welcome Back!

Sign in to your account

Lost your password?