Freebies and optimum pricing and why both are important!
- Salona Surjoo
- Sep, 10, 2016
- Blogging, Social Media, Web Design, Web Hosting
- Comments Off on Freebies and optimum pricing and why both are important!
From browsing countless websites, giving into the temptation of submitting your email address in exchange for a freebie (eBooks, free design software, music or whatever it may be) and surfing around for the latest deals, you might have noticed a pattern in the most successful online businesses.
What might that be?
That, my dear reader is the trend of businesses or companies offering free stuff online (in exchange for your email address) and also the fact that they sell value and not just cheap pricing!
The combination of those two elements are extremely powerful in converting potential clients into paying clients.
For one, when you are asked to submit your email address in that little box in exchange for a freebie, it isn’t just so the company can email you the free stuff. It is to get you on their mailing list so they can constantly update you on their new products, new free products, promotional material and even their premium products which aren’t on sale. All this is done in a very attractive newsletter style! So that is how sending out freebies help businesses to build their mailing list, keep their subscribers up to date and gain more clients.
Don’t get me wrong, this isn’t a bad thing, most businesses which use these mailing list methods are quite helpful as some of their newsletters can actually be quite helpful and informative.
The other part of this article is the importance of pricing your stuff as they are actually valued.
I have really had a difficult time doing this. When I started Maruti Media in 2015 I thought the best way to get clients was to offer premium services but at very very veeeery low rates. I was actually shooting myself in the foot because if I did actually get clients at that time with the pricing I was offering, I would literally be working 24/7 for very little money. Thankfully, my stupid strategy didn’t work and I didn’t attract a single client with those low rates.
Here is why
Clients or potential clients (basically people who are looking for whatever services you are offering), link the price you are offering your service to the value of it. So, if you offer something which is priced very low, people psychologically feel that they are getting very low value and end up not taking your services!
People pay for value.
I have tried this out myself. I was searching for some design software online and I came across a very good deal, too good of a deal, that I thought that the company was fake. They actually turned out to be a good reputable company, but because their deals were so cheap, my brain believed that they were a fly by night company.
A few months ago I came across a really awesome article on business development and online marketing. One of the key concepts I picked up was that it is vitally important to line your work standards with that of the potential clients and price your work according to what they would pay for it while offering value and worth.
For example, people who would use my services are either start-up businesses, freelancers or established businesses who want an elegant website to promote their business. I have set my pricing to be affordable to all those different types of businesses with each package offering them things they actually need to promote their business online and at prices that they are familiar with. I set my pricing which shows my passion for media and value I am offering.
Previously, I was offering services to businesses, but my pricing was attracting people who have very little money available, (basically the type of people who want everything for free). Those are actually the type of clients that give you headaches, don’t pay on time and don’t appreciate your work and effort. And that was actually not my target market but with my strategy, I was attracting that audience. Talk about target marketing!
So in order to attract your actual target market, it is important to price according to your value and let those esteemed businesses (which you actually want to work with and truly appreciate your services) contact you.
After pricing the actual worth of my media services, I have attracted a lot more clients who have high profiled businesses that are willing to pay for my services.
That is the power of selling and marketing your value and worth over just marketing low prices!
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