Why Companies Give Out Free Information
Many companies will offer free information that may seem detrimental to business profits. For example, organizations such as Palmco will provide ways to save energy in the home when the company’s primary source of income is that energy used. It’s not to purposely lose money, but it’s a way to enhance the business overall. It’s the same reason why many businesses will hand out free promotional items to people at trade shows. It’s all about the marketing of a brand.
Builds a Reputation
A company that provides this kind of free information to its customers looks more like they are trying to help rather than collect every penny possible. This, in turn, helps develop a better interaction and a reputation as a company that cares about its customers. The company is no longer viewed as a faceless corporation and seems more personable. Over time, this type of marketing has potential to increase sales and productivity as the organization is more trusted by the consumers.
Regularly Engages the Customers
Some products may not require a constant relationship with customers. However, those that base their practices on subscriptions or other re-occurring services have a better chance of enhancing the customer relationship by providing helpful information and tips. This engagement helps solidify business leads and future sales as the company tries to remain as relevant as possible to the individual. It’s a constant reminder that the business is there to help the person in future needs.
Demonstrates Honest Practices
When businesses are not forthcoming with simple information that could help consumers, it may be seen as dishonest. By delivering information or other promotional products, the company has more of an air of trustworthiness to the general populace. This can increase future sales and consumer interest. People are more likely to purchase goods from a company that is trusted rather than one that hides facts or doesn’t assist in basic needs.
Empowers the Populace
The more information people accumulate, the less likely problems will occur in any given situation. Free information and products gives people the sense of empowerment and the ability to control the circumstance. For example, energy-saving tips can make people feel like they have control over their bills and budgets. It’s a boost of self-confidence to succeed in various aspects of life.
Companies that offer free information or advice are doing so to help consumers. While this information or promotional product could be sold, the aspect of free gives it power to be a valuable marketing tool. Enhance your company’s reputation by empowering your customers.