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4 reasons free services are actually gold mines
Whenever you're browsing the internet for a service you need to buy, there is likely something out there that is free that does something you need, and most people tend to gravitate towards those services because they work sometimes. Think about it, how often do you land on one of the website audit services that give you a free report on what needs to be done, but there are ads on those pages for anyone to click through and possibly purchase something? This is how those free services generate revenue, but it's not the only method of using a free service to generate income, you can actually set up these services for yourself and keep 100% of the clients that want to purchase.
You can offer your basic services for free, something that costs you a little time but not money, and you will get a lot of sign-ups that way. This is the gold mine kicking in and you will soon see a lot of people coming to you for your free service then sticking around for your paid ones
People get to test before they purchase
One of the best things about free services, especially the ones that are very small packages that are similar to your big ones, you will get people to test you out for free instead of sending you hundreds of dollars and risking everything.
A lot of companies, online and offline, will have loss leaders that get customers in the door in order to upsell them on other things they offer. McDonald's has a loss leader that comes in the form of chicken nuggets and you can have a loss leader in the form of a small backlink package or free content for your clients. You give them a little taste of what you can do, lose a little bit of money on this one transaction, and they will likely come back and purchase bigger packages
Everyone is looking for a free hand out
It's human nature to sign up for something that is free because we love saving money. I would take 10 free things before I spent $2 on a similar product because the 10 I get for free will feel better than the paid one. Sure, the paid one might be 1,000% better than the free ones, but I didn't have to part ways with any money up front to get something of my own
If you can give away something for free, you will notice a lot of people signing up for your services, and that means you will likely have a lot of people coming back to purchase bigger products or packages from your websites
It's easier to convert the fence sitters
Most websites convert between 1% and 3% of its visitors into customers. Would you believe me if I told you that I get around 25% of my visitors to sign up for my free services and then around half of those people turn into customers? That means instead of settling for that measly 1% to 3% conversion rates up front, I'm giving away free services and converting 12.5% of my visitors into customers
I may not make $2,000 from each customer, but I do make much more profit than if I didn't give away something for free. Fence sitters or tire kickers are the ones that will ask a lot of questions and wait for someone else to buy before they make a purchasing decision. If you give them something for free, allowing them to keep their money for now, you'll get those hesitant people signing up and trying you out and eventually turning into customers
A free service can compliment your paid services
A good example of a free service to complement your paid services is something like PingFarm, Indexkings, and LinkCheckPro because they are 100% free for anyone to use and they help out anyone who has had a backlinking campaign done for their websites.
The free services are offered, then linked back to the main service, and everyone is happy at the end of the day
Think about giving something away for free and you will see that more people will become loyal to you over time. You will actually generate more money than before because you'll be building up your lists and bringing those people back into your website
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