On I-94 near Jackson, Michigan, there stands a massive yellow billboard with the following line in huge black letters:
“Free Land for Industrial Development”
This definitely attracted my attention, but my first thought was that these people are desperate. After all, the September 2009 unemployment rate in the state is 15.3%. Michigan continues to hemorrhage jobs. You continually hear people lament about how bad the economy is statewide. However, while a large workforce is available, a question prospective businesses might ask is, “What’s the catch?”
Several years ago I was doing some work for Commercial Federal Bank in Omaha, Nebraska, which was acquired by Bank of the West in 2005. They displayed large promotional posters offering “FREE Financial Planning.” In a meeting with a (very young) marketing officer, I asked a fill-in-the-blank question.
“You get what you…”
She almost shouted the answer.
“Deserve!”
Oh well; she just didn’t get it.
Everything has a price. Consumers want and expect value for their hard-earned dollars, but when you position your services as free, you immediately place cost as the primary determining reason to buy, in addition to making the client suspicious. People understand the concept of ,“No such thing as a free lunch.” Certainly you want to justify the cost of doing business, but do so with statements of value, as opposed to being cheap. Tell clients how they benefit from your services, and how you can help them reach their goals. Paint a vivid picture of how clients achieve their financial objectives, and you will attract more clients.
You are too good to be free!
Good selling!
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