Everybody enjoys freebie, except for the people who need to spend for it. That is the unsaid truth that exists behind any “giveaway or freebie” marketing approach or campaign. There is usually, though not always, a real cost in terms of time and expenditure.
So how can you get an affordable image of the real expenses of a free marketing promo? First is by comprehending the difficult costs you are handling to develop and deliver, and then by considering your time.
Exactly what ranges of “free” are we talking about here?
The most significant locations we see free work its method into our businesses is with the act of collecting email addresses. Providing a freebie is conventional operating treatment, and will certainly not be altering at any time quickly. Most of the time we are offered a free ebook, report, video series, e-course, webinar or email series in exchange for our e-mail address and other contact data.
Exactly what you have to realize is that there are costs connected with the production of these giveaways. Let's have a look at a few of the actual hard costs you'll be forced to deal with in the production of your freebies.
- Creating the material – Someone has to write, film, record whatever content you are producing. Unless that is completely you, you'll pay for this.
- Designing the squeeze page or landing page – There are several wonderful software applications out there, but they cost as well. And we understand how much designers expense.
- Manufacturing expenses and shipping – If you have to manufacture a tough item, opportunities are you'll have to pay to get it where it's going.
- Marketing funnel hard costs – Email autoresponders, setup costs for technical aspects, webinar charges. GoToWebinar for example, charges at the bare minimum $99 a month for their least expensive plan, which only permits 100 participants. (to be reasonable, there are other lower-priced services).
- Advertising – Are you going to be taking out ads for this giveaway to bring in the widest possible audience?
While it's still a smart concept to use this kind of bribe to construct a list of email customers, you have to be aware of exactly what your giveaway really costs, and aspect that into the expense per lead.