Know-How Exchange : Strategy

Depend on what business and industry are you in.

Some people might think FREE doesn't mean the thing is good.

FREE in copy is a huge psychological flag. Chapter 3 in "Predicatably Irrational" (Dan Ariely) describes the power of FREE.

Here's a review of his book: https://www.manygoodideas.com/2009/03/01/predictably-irrational/

FREE has always been and remains the single most powerful word in marketing.

It works, use it wisely and use it often.

All depends upon context, so just be very careful how you use it but for sure it is a constant attention grabber.

Try these 2 pitches for size and tell me which on works better.

'T shirts' get 3 for only $20.00!

'T shirts' $10 each - Buy 2 get 1 FREE!

I can tell you that I have used exactly this in real life.

The first one you may as well be selling dog poop :) Nobody buys :)

The second one, the shirts absolutely fly off the shelf.

At the end of the day for the retailer, you are still earning $20 for 3 shirts but the perception of the buyers is completely different when they see that one is free.

OK, you may not be selling shirts but regardless of the price of the product, adding something free in the purchase is ALWAYS a great hook.

Good luck.

Matthew

PS: Note that I said, adding something free WITH THE PURCHASE.

Don't waste your time and resources just giving away 'freebies'. They absolutely do not work. People will just take your free item and will not respect or even use it because the perception is that it has no value. They will abuse you and will not come back and spend further cash above what they would have spent anyway.