Start-up entrepreneurs are always looking for ways to get a sales spike, and a resultant boost in profit. It’s never easy, but one way might be to give your product away – or at least some of it.
The “freemium” model is a favourite of the software industry, from Adobe through to app developers.
The idea being that if you give a basic or cut down version of your product away to customers and they love it, they will then be more likely to pay for a version with extra features and functionality.
Services businesses use the model a lot too – everyone’s seen companies offering an initial consultation for free, which are of course followed by a series of consultations that you must pay for.
The point is, being willing to give something away gets you an introduction to customers that, ironically, money can’t really buy.
Yes, you’ll need to develop a model that allows you to recoup the cost of this free product or service at a later date, but giving stuff away might just be the sales boost you’ve been looking for.
Get it done – today!