this post was submitted on 09 Nov 2023
1 points (100.0% liked)
Entrepreneur
0 readers
1 users here now
Rules
- No Personal Attacks - criticism of ideas is allowed, attacking people is not.
- Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
- No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
- Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.
Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Seems like there's some math to do - number of free samples who convert to customers, average lifetime value of customer, etc.
If the avg ltv > cost of acquisition, then you're all good
Consider limiting the number of free widgets, but making people register their interest. Still give a bunch away, but use the details you collect to create a mailing list. Hit them up with some special deals in the first few months, etc.
We say we are limiting samples to 1 per order. We don't have a specific policy on re-ordering samples. Luckily(?) no one has ordered free samples more than once. If they did I would have to find some way to respond. I would probably send out the second free sample and then follow up with an email telling them we can't provide further free samples. I'll have to work on a polite way to say that.
I have a follow-up survey being sent to people two weeks after they make a "purchase" but only 1% of customers filled it out. This shop has only been up for a month. I don't have a lot of customers yet but I definitely would have expected more responses from my audience.
I wonder if there is a better way to register interest. Maybe a pre-purchase survey would be a good idea. I can get some usable info while at the same time adding a little friction.