Today I was running a training course for a corporate client who White Labelled me with their own branding and sold the course for free to their customers. We had 14 people booked, but only 8 turned up, those people who cared to phone the organisers had various excuses.
The simple fact that because this was free, they didn’t place too much value on it.
I read recently of the Co-Op Supermarket chain who have decided to hand out out-of-date food to those in need. This food is not dangerous to eat just not in perfect condition. Interestingly they initially allowed people to take the food, but weirdly no one wanted it. Then they charged a nominal 10p had demand ramped up nicely.
People valued it more because they had to pay.
In the same way, if my course attendees had to pay a nominal £25, I bet you all 14 would have turned up.
In your business, do you give things away, offer freebies to encourage sales. If you do, then think again. People don’t value something that’s free.
I used to offer free consultancy meetings with clients to peruse their needs and make recommendations, I now charge a nominal fee for this which is deducted from the main fee later. Clients value this much more than ever before and ensure the relevant people are there during our meetings where previously so and so couldn’t make it because they were busy.
It’s all perception.
Luckily we Livestreamed and recorded the session so everyone could watch afterwards, maybe we should be charging for this too as people probably won’t watch the stream either.