As I think we all know, in marketing ‘free’ is a word with double meaning. It’s also a valuable marketing tactic that businesses embrace to attract new leads, retain existing customers and boost full-price sales. Yet in today’s beyond-boot-strapped economy, how can businesses feel comfortable offering things ‘a la gratis’ while sometimes getting nothing in return?

In Duct Tape Marketing’s blog post titled, “Upping the Price of Free,” there’s some great advice on how businesses can maximize the return on this tactic while increasing their customers’ perceived value of the free offering.

People will automatically place a higher value on something they earned, gained in an exclusive manner or paid for outright than something that all corners can take… Free products, free trials, free education based information products must be part of your overall product/service mix but up the value and reposition free as something to be earned, something with exclusive rewards for playing and something that can build trust as part of your overall marketing strategy.

Another point to consider, businesses need to be mindful of what they offer for free. As stated in Duct Tape Marketing’s blog, this type of promotion is a way to build trust with prospects and customers. There’s a major difference between cheap and free – so don’t be cheap with the free promotions you offer to your customers.

How do you work free promotional offerings into your marketing plan and what do you gain from them? Don’t be shy. Share your thoughts.

Have a great Monday!