Dan Galante

Free or Low-Cost Trials

When creating a new offering, I would offer a free or low-cost trial of your product to the end-users and industry experts. Consumers look for social proof before they buy a product. Now if the product is new, none exists. To lower buyer resistance, you need to make it low risk and feel safe.

In addition to market research and product testing; the free or low-cost trial is a great way to build trust and get feedback. Surveys can be created to ask potential customers about their experience.

If your product helps to solve a customer’s problem they will be more than happy to share it with others; converting to paying users! The product will earn testimonials and endorsements. Testimonials and endorsements will address product reliability creating: loyalty, brand recognition, and Sales for your product.

Loss Leaders

In place of a free or low-cost trial, a loss leader can be an option. A loss leader is when you offer a product at a loss or break-even point to gain business in the future. Supermarkets do this all of the time when a new product is rolled out.

Another place I saw loss leaders was when I was in Field Sales. I was selling Dental equipment at the time. Certain customers were loyal to certain types of equipment. When I ask why they stated that these were the tools that they had used in school. When I called on Dental schools and Hospitals, I found they were locked up with large contacts. My larger competitors sold the equipment at cost practically giving it away. Why would they do this? My competitors were creating life-long customers who were trained on certain tools and refused to switch.

Connection, trust, and advocacy are essential for customer acquisition. It is your job as a brand to turn your customer base into evangelists.

The decision on developing and implementing offering free, low-cost trials and/or loss leaders will be different for each product.

Free, low-cost trials and loss leaders help to Increase Sales and Customer Loyalty.

How have you used free, low-cost trials and loss leaders to create Sales and Customer Loyalty?

Comment and share.

I covered The AI Summit in New York last week because I wanted to learn more about AI and Machine Learning.

According to Tractica, AI is being implemented globally.

AI and Machine Learning used in many verticals and processes. For example, when I compose an email using GMAIL, I received suggestions on how to finish a sentence. To use the GMAIL suggestion, I can tap the right arrow button on my keyboard.

Think about your routine and your processes, I bet that AI influencers your decisions from where to eat to what to watch.

It is important not to fear AI; use it as a tool to be more productive and live better.

Data Privacy

There are many issues on Data privacy with legislation such as GDPR, CCPA among others. Right now we’re are at the level where AI can understand customer behavior and make suggestions.

AI In the Home

I attended an LG Labs event on AI in the home where it was suggested that companies need to collect more customer data to make better products. To convince customers to provide more data, companies need to provide customers with a ROD analysis or Return on Data. The return on Data should measure customer benefits against the amount of data they are providing. For example, in exchange for providing X amount of Data, we improved our product By Y i.e. increased functionality and better user experience. Think of an ROI or ROAS analysis.

The next evolution for AI is to go from predicting current user intent to future user intent based on user actions. Eventually, AI devices will be consolidated and work cross-functionally.

How AI will impact Sales, Marketing and the Customer Experience

Mark Beccue of Tractica opened up the Sales, Marketing and Customer Experience part of the Summit.

Matthew Quinn of Columbia University shares his insights on AI’s impact on Sales and Marketing.

Companies will not have just Salespeople or Machine Learning in the sales process. Instead, to increase Profits companies will have a hybrid model.

A business’s reason for using Machine Learning and AI is to become more efficient, get better insights and better ROI and profits.

Businesses need to think globally by applying cultural diffusion to their business through localization and language translation.

Marketing

AI will improve Marketing KPIs by allowing brands to measure improve linguistic effectiveness.

Shared by Smith Yewell of Welocalize

Customer Segmentation

Shared by Ranjit Jangam of Comcast

How ML can improve Customer Segmentation Data

AI will improve the customer experience by allowing customers to control their buyer journey with less interaction from the seller.

Shared by Priyanka Tiwari of Interactions.

Conversational AI will help power a self-service model according to Gartner.

What is Conversational AI?

Where AI needs to improve

I want to thank The AI Summit for having me as their guest. If you want to use AI to improve business outcomes, sign up for the AI summit in your city.

What do you think is next for AI?

Comment and share below.

There are many ways to grow a business organically across the organization. Here are strategies, tips and insights to achieve this goal.

Sales

Sales 101 A guide to getting started

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Dan Galante

Small Business

Small Business Marketing 101

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Start ups

Inbound

4 Basics of Inbound Marketing & Sales

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Dan Galante

Digital Marketing

Digital Marketing/Content Marketing/Social Media Marketing 360

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Dan Galante

Content Marketing

Social Media Marketing

Content Creation & Customization

How to Customize Presentations & content to Buyer learning Styles

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Dan Galante

Growth Marketing

CEO’s & CMO’s Looking to increase Sales? Here’s How

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Dan Galante

Additional Resources

10 Ways to grow your Audience & Build a Customer Base
There are many ways to grow an audience and build a customer base. Here are 10 strategies for you to grow your audience…www.linkedin.com

25 Sales & Marketing Strategies to Drive Revenue
The purpose of the Sales & Marketing functions is to drive revenue for the organization. Below you will find 25 Sales &…www.linkedin.com

100 Days to Increased Brand Awareness and Sales Enablement
When Brand awareness and Sales are low for brands, it is tempting to start using social media and blogging to solve the…www.linkedin.com

3 Ways Small Business can use Word of Mouth Marketing to Drive Sales
Word of Mouth Marketing is one of the most powerful tools that you can use to build your business. Whether you are a…www.linkedin.com

How to use Marketing to Align the Customer Experience & Customer Journey
The Customer Experience and Customer Journey is being disrupted by technology. The technology comes in the form of…www.linkedin.com

Sales, Marketing & Social Media Today
2018 continues to be the year of Brand Safety for Brands, Advertisers and Agencies as the industry status quo was…dangalante.me

Dan Galante | Professional Profile | LinkedIn
View Dan Galante’s profile on LinkedIn, the world’s largest professional community. Dan has 11 jobs listed on their…linkedin.com

Dan Galante
Dan is passionate about using Marketing to help businesses drive sales. Certified in Inbound Marketing, Dan has worked…slideshare.net

Dan Galante
Dan is passionate about using Marketing to help businesses drive sales. Certified in Inbound Marketing, Dan has worked…dangalante.com

About the Author

Dan is passionate about using Marketing to help businesses drive sales. He has worked on various marketing assignments that include Start Ups, Political Campaign and a Digital Marketing Conference.

Prior to Teaching, Dan served customers as an Outside Sales & Marketing Representative in the Dental industry. In this role, he taught and trained Dentists on the company’s products and services using a consultative selling approach. He also supported the company’s marketing efforts at industry trade shows & in the field through lead generation of Digital Technology along with large Dental Equipment.

He writes and publishes a business blog on the topics of Sales, Marketing and Social Media entitled Sales, Marketing & Social Media Today.

Dan is seeking a full time marketing role. He is interested in roles in Direct, Digital, Content and Social Media Marketing. If your company is hiring for roles in these areas, contact him directly via a free LinkedIn Message or email him at Dan@DanGalante.com to set up interviews.