The “Free” offer.
Why the free or almost free offer? How do you compete with it?
There are free alternatives to products and services people used to pay for just a couple of decades ago. Remember Kodak Film, the travel agent, expensive long-distance or overseas phone calls? What could these businesses have done to compete with the “free” alternatives?
Only one answer: Differentiate. Make something better than free, something that provides more value and is worth paying for.
Many marketers offer the barebone product or service for free and charge a premium for the enhanced features, providing greater value. If you are genuinely providing higher value, you do not need a cleverly crafted advertising or promotion strategy that is on TV or social media. You need to be creative, reinvent, and reconstruct for the current reality.
People will pay if they perceive what they buy as a better option than the free alternative. Sounds obvious. However, I encounter frustrated people trying to sell the old thing in a new context. Discard the obsolete context.
I would love to hear about your experiences! Please share your stories at satishmehtausa@gmail.com. Please forward this knowledge letter to those who could benefit from it. They can subscribe to it here or by clicking on the link below.
Thank you,
