Koyoti Small Business Podcast
While Koyoti Inc. is a marketing and design studio here in Toronto, we’re going to try to go beyond our own comfort zone and talk about all elements that pertain to Small Businesses. From social media marketing to book keeping; and from sales to mental health.
Koyoti Small Business Podcast
Yips, Pips, and Yaps - The Power and Peril of Free
Summary
In this episode of the Koyoti Small Business Podcast, Thomas explores the dual nature of the word 'free' in marketing. He shares personal anecdotes illustrating how free offers can attract crowds and create chaos, emphasizing the psychological triggers behind consumer behavior. The discussion highlights the importance of strategic use of free offers to build customer loyalty and connection, rather than devaluing a brand.
Takeaways
- Free can attract crowds, but it can also create chaos.
- The fear of missing out (FOMO) drives irrational behaviour.
- People often feel obligated to reciprocate when given something free.
- Free offers should provide real value to build trust.
- Overdoing free can devalue your brand.
- Position free offers as gifts, not giveaways.
- A small gesture can make a lasting impression.
- Understanding human behavior is key to effective marketing.
- Free isn't just a pricing strategy; it's an emotional trigger.
- Free can create loyal customers who feel connected to your brand.
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Building a small business community for small business. Sharing experiences, information, stories, and tips to help grow the community. New Episodes every Monday!
For more information about Koyoti, please visit: www.koyoti.com
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