See How to Calculate the Cost of Your “Free” Giveaway Content
Didn't your dad tell you that nothing in life is ever really free? That is never more true than with regards to marketing. There's always; I say again always, a cost to be paid, whether it's dollars and cents or your valuable time.
So when you find yourself tempted to offer something for free, be sure to count the cost in each and every way you need to, so as to make sure your gi content, bonus gift or other promotional label you chose to give is affordable. It's time for you to take a close look at the costs you'll bear along the road to a freebie.
What forms of “free” are we talking about here?
Many times in online marketing we are offered something for free in return for our email address or attendance at a webinar. (Email given there too!) Most marketers opt for choices like ebooks, free reports, whitepapers, videos and podcasts.
If you've ever made any of these, you understand the true costs associated with them. Unless you're a one-person business operator who loathes to outsource, you'll be confronted by the prospect of paying someone to create and set up for delivery your freebie. Just so you know!
- Creating the content – Someone has to write, film, record whatever content you are producing. Unless that is totally you, you'll pay for this.
- Designing the squeeze page or landing page – There are some great softwares out there, but they cost as well. And we know how much designers cost.
- Production costs and shipping – If you want to manufacture a hard product, chances are you'll have to pay to get it where it's going.
- Marketing funnel hard costs – Email autoresponders, setup costs for technical aspects, webinar charges. GoToWebinar for instance, charges at the bare minimum $99 a month for their lowest plan, which allows only 100 attendees. (to be fair, there are other lower-priced services)
- Advertising – Are you going to be taking out ads for this freebie in order to attract the widest possible audience?
While it's still a great idea to use this type of bribe to build a list of email subscribers, you have to be aware of what your freebie really costs, and factor that into your cost per lead.
If you need help generating leads, please call us. We have an excellent lead generation program where we pay for all your advertising expenses and take all the risk for you. You only pay when you get results. This is a massive undertaking and understandably we're limited in how many companies we can help at any one time. If you're interested and find the program paused or not available, just leave your details and we'll let you know when it re-opens.