What is it about the word “free” that get’s us so excited?
In a society becoming more and more addicted to entitlement, and with the economy still in a slump, free is more powerful than ever. The question is, can free be still done effectively in small business? Understand, free can still be implemented in business without forgetting profits.
I have been in all kinds of businesses, but for the past seven years, I have been a network marketer. I am an MLM guy. I have been a founder of a network marketing company and I have made a full-time income as an MLM distributor. Needless to say, I have seen many angles in small business and within network marketing. This “free” analysis is not about MLM, but if free can be implemented successfully into network marketing, it can implemented almost anywhere.
Most small business owners and network marketers do not have the luxury of $25 million in funding like Google. Today Google stands supreme in the search world that it entered late and has effectively taken down the likes of once bullet-proof Yahoo. A lot can be done with $25 million, but Google based their strategy on free and still does today.
For Google, their product is Google. Their goal is to get you engaged in Google first; they worry about making money later (wouldn’t that be nice). In fact, many times they don’t care if they ever make money on some of the products they offer, such as Google Docs, if trying to monetize will prevent their fans from using their products. Google wants you addicted to Google.
Having the luxury of $25 million dollars was nice, but Yahoo was way ahead of Google and had huge sums of capital to implement the same strategies, but Google did it better and they are now king.
For small business, and MLM in particular, margins are a problem. Network marketing often prices themselves out of the competition with traditional products in order to pay commissions (which I find a shame but we can discuss that at a later time). Small businesses don’t have the purchasing power of bigger companies.
With that being the case, how can a small business, network marketer or MLM distributor with no purchasing power ever implement a brilliant free strategy like billion-dollar Google? The answer is simple, start first with education. Educate, educate, educate and educate on your company site and newsletters. The cost to educate is extremely low, and if you add value for free, you too can attract customers and attention.
You do not need millions of dollars to educate your prospects. You do not need a big budget to create interesting content. Provide free content that is of value and you will see your profits will follow.
Dedicated to your success,