The Word Wrangler

Regardless of what kind of economy you find yourself in, getting new customers – and retaining current ones – can be a hit and miss affair for your business.

That’s why it’s important for you to stand apart from your competition and create extra value in the eyes of your customers.

One easy way to do this is by offering them a freebie. A freebie is something that you give to your customers – either before or after a sale – that’s designed to make your business worth patronizing.

Here are a few examples:

A real estate agency that provides a free guide to home maintenance through all four seasons. The guide is given to anyone who purchases a new home through the agency.

Or maybe a hardware store that gives out a free monthly newsletter filled with gardening tips, home improvement tips, etc. This kind of promotion is great for branding purposes in that it bills you – and your business – as experts in your field. When someone wants good advice, they’re going to think of you before your competition.

But what about the cost?

I know…I know, as a small business owner you’re concerned with the bottom line. You have to watch every penny you spend – especially if you’re competing with some big-box store like Wal-Mart or Lowe’s.

The good news is that these promotional items are relatively inexpensive to produce when compared to other forms of advertising like newspaper ads or radio spots. Digital printing technology has brought the cost of producing high-quality, full-color publications down to a few bucks per copy.

Selling value and service

The old adage, “It takes money to make money” is true. You have to spend a little in an effort to make a lot. Remember that, if you can’t beat your competition on price, you can definitely beat them on service and value.