What if there was a proven way to generate a surge of leads and new customers for your small business any time you wanted to? Would you do it? Well, there is a way to do just that. All you have to do is:
Give something away for free.
One of my favorite methods to instantly add new customers to your small business is giving your prospective customers something for free. This is by far the fastest way to attract new customers to your business. Now, if the idea of giving something away for free concerns you, relax. You don’t have to give away the entire farm for free! Just give a free sample of your product, service, or expertise.
Who says there’s no such thing as a free lunch?
The owner of a new restaurant mailed 120 highly targeted letters to potential customers in the area announcing the opening of his new restaurant and offering the reader a free lunch. The results? 100 of the 120 people mailed accepted the offer and visited the restaurant to claim their free lunch. Half of those people were accompanied by one or more people who purchased lunch at the regular menu price. Most of the people who visited became regular customers.
As a result of using targeted direct mail to promote his business, the restaurant owner was able to build in six days what would have otherwise have taken him six months to accomplish with traditional print advertising. What about you? How much could you grow your business if you gave something away for free to attract new customers?
What can you give away for free?
The simple answer is whatever profitably entices your target audience. Your small business is unique, but here are a few examples to get your creative juices flowing:
Professional service providers such as lawyers, accountants and health care professionals could offer a free consultation. Restaurants – a free appetizer with a main course. Pool services – a free pool chemical inspection. Cleaning companies – offer to clean one room for free. Golf courses – free golf cart rental. Brakes/muffler/A/C shops – a free inspection.
Case in point: a local auto parts store offers free battery testing and replacement. Through their offer to give something for free they get the sale of a new battery and a new customer. They also offer to diagnose the problem when the dreaded check engine light comes on. On the weekends, there can be a line of people waiting to receive this free service. Many of them purchase the replacement part that caused the problem. I could go on and on and ON, but you get my point: to get something, give something of value first.
Why does giving something away for free work?
Giving things away for free works because it takes away all the risk from the initial transaction and establishes a relationship between you and your ideal prospect. It also engages prospects in your product or service who were not involved with it previously. Once a prospect has become your customer they are far more likely to buy from you again and again.
In effect, giving something away for free can give you the ultimate double whammy – you get the initial free transaction which often leads to an immediate, profitable sale and you get to bank the lifetime value of the customer. Now, I have a quick a word of caution:
You must test your free offers on a small scale before ramping them up.
When making a free offer, the goal is to do so in a way that is profitable. After all, you’re running a business, not a charity. Ideally you will convert many of the prospects wanting to take advantage of your free offer into profitable sales and customers immediately. Some you will convert later as a result of collecting their contact information and following up with subsequent offers.
Once you have proven that your free offer is profitable on a small scale, you can crank it up a notch. If it remains profitable, crank it up again, and again. The point here is not to get ahead of yourself. By all means create free offers, but do so only to the extent that they add new customers, sales and profit to your business.
That’s all I have for you in this, the second article in the series, “Marketing Methods That Immediately Grow Your Small Business.” Join me in the next installment when we discuss how you can quickly get new customers by legally accessing the customer lists of other businesses.