@neilpatel: My favorite marketing strategy still to this date is giving away something for free. Not “freemium”… not a “trial”, but really, fully free. The key to this strategy is to think about the cost of marketing. If the cost of marketing is extremely low, you would be better off charging for your product or service. But as you know, marketing keeps getting more expensive over time. When you look at Google’s ad revenue over time, from 2013 to 2023, there hasn’t been one down year. So when ad costs are expensive, and it costs so much to acquire a customer… and much more than just giving away the software or product for free… you typically are better off just giving it away for free and considering it a marketing cost. You then monetize by selling something more expensive on the backend that is in a bigger TAM. We’ve done this at NP Digital. We give away many different software tools for free, and it’s how we generate more than 30,000 leads every month. When I say 30,000 plus leads, I am talking about full leads with a person's name, email, phone number, budget, revenue size, job title, and basic company information. Try giving away something for free. Many times, it is cheaper than spending money on marketing.

Neil Patel

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Wednesday 15 May 2024 14:43:14 GMT