Escaping The Endless Cycle Of Free

mdgvIt has come to my attention that we’re not just living in the land of the free; we’re living in the WORLD of the free. Free content, free samples, freethinking; it’s the new dynamic between consumers and the companies they used to buy from.

There are so many free options that competition almost requires you give something away for free just to keep a customer’s attention. We’re becoming stuck in a seemingly endless cycle of free.

Now, before you think that b-school has wrapped my fragile liberal heart; I’m not arguing that the battle for value isn’t justified.

As I see it, we give things away for one of two reasons. The first is that we find value in the process of creation, itself. A perfect example exists in the fact you’re reading this post. You’re essentially taking advantage of a product that I saw some value in producing, and that I have no problem giving away.

The second, and more troubling reason is that we assume value is zero in the mind in the consumer until we prove otherwise. We believe that as long as those around us are offering something for free, we have to as well. After a while, it becomes a self-destructive cycle.  In extreme cases; some marketers even begin to doubt the value of their own product.

In order to break this cycle, we have to start by believing that our products are worth something to a consumer.  We have to build our products and our businesses with the respect and attention to detail that assumes consumers will want to pay for it.

It does not mean we have to banish the word “free” altogether, we just have to be wary of it’s power.

For instance, you can start to talk to consumers about why you produce your product and how your product supports your businesses’ mission.  By demonstrating your ideas and products are worth something to you; you’re helping to frame the idea of value the consumer.

You can also ask consumers to add to the conversation.  Starting a dialogue instead of pushing your product allows you to reserve the free sample for when you really need it.

Think about ebay. You want the consumer coming in with an idea of what they’re willing to pay but inherintly expecting they will have to balance that number with the reality of the products’ demand. Understanding that balance and being able to apply that thinking to your own business is probably the hardest but most effective means to break the cycle – at least in your own mind.

Not to get too mushy but chances are your product is worth something if you’re willing to produce it.  Before jumping into the world of free; think about what you mightt be able to get for your product and how you can prove its value to your consumer.

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