Is “FREE” killing your business?
Giving away free information and content can be a great way to gain trust and establish yourself as an expert but many businesses are doing it wrong says experienced internet marketing veteran Maria Marsala from CoachMaria.com. Maria has been in the internet marketing arena and coached business owners for over 10 after spending 20 years as an executive on Wall Street. She thinks small business owners, especially women, are notorious for giving away too much for free.
Speaking to the online resource center for women in business, GetYourSuccessNow, Maria notes that the natural tendency for women is to give, give and give freely because of their desire to nurture and help others. That can be a great strength when used in a business to build relationships with customers however; most women get it wrong by giving away all their valuable services for free and then wondering why they don’t make money.
One of the reasons small business owners do not make the amount of money they want to make from their businesses is because their pricing structure is flawed. Business owners can work hard to gain new customers and market their products but unless that process is making them money, their business is going on a downward spiral. That is a bitter truth to swallow but ultimately, an entrepreneur’s ability to price their services and products correctly is one of the main keys in determining their success.
One key components to keep in mind while pricing your products or services is the fact that once a price is set, it is much easier to lower it than to raise it. Internet Marketing coach Maria Marsala encourages women to therefore balance the urge to give away freely with the need to run and maintain a successful business.
In a recent interview with GetYourSuccessNow, Maria shares the pricing mistakes she has seen business owners make over the past 20 years as a business coach and mentions flawed pricing structure as one of the biggest culprits leading to failed businesses.
Listen now to the interview at Get Your Success Now.
About The Author
An irrepressible entrepreneur, Maria Marsala sold AVON at age 14 and landed on Wall Street three years later. She became a bond trader when female executives were as rare as pink diamonds. For 25 years, Maria streamlined Fortune 500 companies, nurtured non-profits, and discovered her niche—mentoring women CEOs and executives. Armed with corporate secrets and life coach credentials, Maria founded Elevating Your Business to help female financial professionals live better using her proprietary brand of consultative-coaching. Contact Maria today and take the first step toward freedom, full-fillment, and a sparkling quality of life! Contact me now!
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Hmm.. great point of view. You’re somewhat right that it’s questionable why others are “giving away all their valuable services for free and then wondering why they don’t make money.” I start doubting and thinking more critical here.
Great analogy there John. I like it! Free stuff should be like candy, sweet and helpful and ready to create a want for more!
You are so right about “giving away all their valuable services for free and then wondering why they don’t make money.” Finding the right balance between free and paid is a challenge.
A friend of mine (in helping me with the same issue) suggested I consider my free “stuff” as candy to be shared. Candy is never confused with a nutritional meal, but in the right doses, it’s a nice treat and can draw an audience.
Like candy, free information should be easy to digest but at the same time, create a hunger for more to eat.
It’s at that point when you can introduce the solid, nutritional, *chargeable* stuff.