Freebies provide a lot of advantages for you and your business, which a lot of people just throw under the bus of “working for free is bad”.
Obviously, most of the time you work for free for someone else, the finished product it's their property, you gain no recognition, no money and worst of all, cheap people are not grateful for your services.
But what about making stuff for free for your community and your followers?
Getting sample products for your portfolio
For people starting their business or freelance career, creating freebies is one of the best options to grow their portfolio.
It is also better than doing free work for someone else, because you will not have as much creative freedom as if you make something you enjoy working on.
Grow your social presence
No matter what you’re trying to sell, the bigger your social media following, the easier it will be to do so. This is most common when you sell digital products like courses and e-books.
Let’s say you have 10k followers across multiple social media channels and release a new course for $79, and “only” 0,5% decides to buy it.
That’s 50 people that will give you on day one $3,950 and the opportunity to reach an even bigger audience if they like it and decide to share your work.
Percentages depend on a lot of things, but no matter how small your conversion rate is, it's better than starting from zero.
Build trust and authority
Building trust and authority is not only good to increase sales, but to meet other amazing people and companies in your industry.
To become a reference in your niche you will need to do amazing work, and you will learn the most from the people at the top. Unless you play on their level, it's going to be hard to meet or interact with them.
We can apply the "fake it until you make it" saying here, but I believe it's even more important to do your best in your work to build that authority.
There are more advantages (and disadvantages, obviously) but I think these are the most important ones.