"Stop giving away your services for free, people will utilise your freebies & then pay someone else for the services you provide"
It may sound like it makes sense that if you offer products and services for free it will entice people into becoming paying customers and that when building a new business this is a great way to gain testimonials and build a client base. However the question must be asked, is it really benefiting your business to give away what you could be selling for little or no return?
When one embarks on starting a business you will come across many who will promote this ideology to you and I am by no means saying it will not or does not work but what I want you to consider is can you afford it and for how long?
Falling into this trap of giving your assets away can actually greatly effect not just your businesses profitability but your confidence in selling and your relationships with those gaining from your generosity as well.
If you do not have a good marketing plan in place or the confidence to up sell and transfer the traffic you have attracted into paying customers then all the giveaways, freebies and discounts would have been given in vain.
Think about the stuff you are currently giving away intentionally for free from products and services to free advice and on each aspect evaluate what you are actually gaining from doing so. Now ask yourself could you be gaining the same or a better result if you were charging for these products and services instead.
It's great to offer out free content, worksheets and tips to your existing mailing list or to new visitors to your site who subscribe to your mailing list as this can keep up engagement between yourself and you clientele but there must be balance and accountability as to what is being given away, whether you can afford it and if it's what you are getting in return is even worth doing it.
I do not give away freebies unless you pay me for my services because I recognise the value in what I have to offer and know that those who appreciate the worth of working with me are also willing to pay for my services and so my freebies are given out as rewards and incentives rather as a method of enticement.
Know your worth and acknowledge that in order to be successful in business you must be making money, profitability is key. Instead of automatically giving away your products and services for free put in place a sales funnel system that will guarantee you a profitable return on anything you give away. Let your freebies be incentives for buying rather than an enticement to possibly buy. So if a client signs for up for or purchases something they receive the free gift instead of have a free gift and if you like it come back and make a purchase.
I would love to know about any experiences you have had with giving away products and services for free and if it generated the outcome you had hoped for.