Many businesses question whether free trials are worth the time, money, and effort. After all, why would you give away a valuable product for free? But, there’s a win-win situation to be had for both business and customer.
You get to display the effectiveness, quality, and usefulness of your product whilst customers can give a new product a try without any risk! With the potential to greatly increase your customer base, there’s little risk and high reward when offering free trials.
Demonstrate the Quality of Your Product
There’s a reason why ‘try before you buy’ advertisements are on the rise. Free trials are an opportunity to demonstrate the quality of your product, and thus have your business make a name for itself.
If your product is shown as invaluable and beneficial to the customer during this free trial, they will become more reliant on your product in their day-to-day life. Once the free trial is up, your product will be well missed! Customers will surely replace the product, for full price.
Establishing a Customer Base
It’s true that great products can sell themselves, but a customer needs to find out about your product somehow! Free trials are a great way to establish a loyal customer base, one of the many ways your business can benefit by offering a free trial.
Potential customers invest time in trying out your product, and – of course – don’t want to see this time and effort wasted. Customers are far more likely to purchase the full product when the trial is over.
You Could Attract Investors
If your product gains popularity through the medium of free trial marketing, investors will be keener to invest and thus bolster, the success of your business. Investors want to see, above all, that your business and product are viable: worth the money that they’ll put into your growth.
Show them that you’re more than worthy! Free trials attract customers, and customers attract attention. With certainty, you’re guaranteed to attract eager shareholders and collaborators.
Collect Valuable Feedback
Above all, the customers who try out your product on a free trial basis are likely to give you valuable customer feedback. These clients are an important source of information as to whether the quality of your product is up to scratch, whether the advertisement is appealing, and whether you need to make any urgent changes.
A business cannot flourish without addressing potential problems, and a free trial offers a valid opportunity for you to do that.
However, there are some alternatives to free trial marketing that might be better suited for your business. Not every product or service is suitable to be advertised in this way! You could replicate the benefits of a free trial with a useful, online webinar.
A webinar allows you to display and demonstrate your product to an equally vast audience, with or without arranging limited-time free trials. We would advise that, in our technological age, combining the effectiveness of a webinar with the ‘tried-and-tested’ model of a free trial is a wise, and ultimately beneficial, choice.