Creating a network -- meaning a community of users -- for your business is something which has always been valuable, but has become virtually indispensable to the success of any online company.
The best way to produce a network is to provide your customers with free services. This achieves two vital goals:
Attracts Users. Getting qualified visitors to your website is among the most basic objectives of any internet business. If you do not get visitors to your website, you are probably not going to make any money.
Giving away quality services or content free from your website is most likely the best way to attract users. You increase the chances of others linking to you -- as your website will have quality content worth linking to -- and consequently increases your rankings in search engines. By giving something away for nothing, you also promote word of mouth; folks like informing others of free offerings, and most of us love the notion of getting something for nothing. Because of this, giving away free services or content may be among the most cost-effective methods of getting new users to your website.
Builds Trust. Among the greatest factors in determining how easy it's going to be for you to market products/services online is how much the consumer trusts you. The more expensive your product/services are, and the less recognized your brand is, the more trust will be demanded of you for you to offer your product/service.
When you provide your customers with an excellent product or service that's free, they will like you. They will realize that unlike the huge majority of other businesses out there, your company actually offers something of value -- and on top of that, does so at no cost. Because of this, you've earned the confidence and credibility required to sell different products/services to them.
So, what do you need to provide as a free service? That depends on what business you are in. Among the greatest free offerings a company can provide, however, is electronic content. This can be as simple as text or as complicated as video editing program. Digital content is a Wonderful free offering for two reasons:
* Digital information is one of the few assets that you can give to another person without dropping it oneself. This promotes the spread of your publicly distributed product/service, which subsequently increases its value to you as a promotional tool.
* It does not have any variable costs. As soon as you've created it, the expense of distributing it's likely close to negligible. Because of this, the advertising strategy of delivering a free product/service won't cut too deeply into your bottom line.
As soon as you've a free product that could attract a large user base, you should be in a excellent place to sell services to your user base. If your product/service is very good and is one that's conducive to repeat use, it is simple to sell services based around your free offering. This can be particularly powerful and lucrative if done correctly.
Generally , there are three classes regarding ways you can develop revenue streams around your free offering:
* Selling services
* Selling add-ons/accessories
* Selling network access
* Let us explore each method in greater detail.
Selling services basically involves selling expert customization or consultation to the free product that has been provided. The concept is best illustrated through a few examples:
Software companies: An increasingly common practice among software developers would be to distribute a version of the software that's totally free. No operation is withheld; the item is available at no charge in its fullest form. Lots of the users, however, will require customization to the software -- that the developers of the applications are in a prime position to provide. Consequently, some software companies have begun to distribute their product entirely at no cost, knowing that they can sell customized services to a given percentage of their users. This manner, the free offering becomes a marketing tool which paves the way for closing sales. Such advertising tactics are increasingly replacing advertisements as a more effective way of getting customers and establishing a new name.
Consultation: The free supply of articles attract users and enable to make trust.
Selling Add-ons and Accessories
Another way of producing revenue streams around your free offering is to provide add-ons and accessories which supplement your free offering. Among the most prolific examples of this happened when bookseller Barnes & Noble started to offer free online classes in an assortment of topics. The classes are completely free, but students are encouraged to purchase the books which serve to supplement the instruction given in the classes. The plan has proven to be immensely effective, as Barnes & Noble's online courses are a prominent part of the business's offering to this day.
Selling Network Access
With networks being the basic concept that drives everything about the world wide web, developing a community around your free service - and then monetizing that community -- is something which most certainly can be done. This is most commonly done through advertisements, premium interaction, or fitting services.
Now that you know the fundamentals of developing a network the last and most crucial step is to begin implementing a network construction plan and test your ideas in real time.