The One Word in Business That Needs to Be Retired
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Chapter 1: The Cost of 'Free'
In my experience as a business owner and consultant, I have had the privilege of helping numerous companies achieve remarkable success in sales and business growth. However, there's an essential lesson I've come to wish was taught much earlier in my career.
It's disheartening to see countless sales professionals and businesses promote the idea of "free" as if it provides immense value to potential clients. Unfortunately, this approach often does the opposite; rather than enhancing your credibility or offerings, it diminishes their perceived worth. So, what is the culprit behind this misconception?
A simple four-letter word.
The word in question is "Free." This term is frequently used by salespeople, and yes, I admit I was once guilty of overusing it myself. However, the primary issue isn't just its overuse; it's the immediate skepticism it triggers in consumers.
When people hear "free," they often suspect hidden costs, leading them to question the trustworthiness of the offer. This is why replacing it with "No Cost" can significantly change the game.
Section 1.1: A Transformative Example
Allow me to illustrate this point with an example from my time as the Director of Business Development at SERVPRO in Tulsa, Oklahoma. We introduced a program called the "Emergency Ready Program," which we positioned as "At No Cost" to the businesses we aimed to partner with in our community. Unfortunately, many sales representatives within SERVPRO referred to it simply as a free offering.
Our approach was strategic: we presented this program as available "At No Cost," while being transparent about the costs involved for our company. This not only highlighted the value we provided but also emphasized our dedication to building a relationship. We made it clear that this was a value proposition — an investment in a partnership in exchange for their consideration of our services in emergencies such as floods or fires.
Subsection 1.1.1: A Value Proposition
It's vital to understand that whatever you offer transcends the notion of being "free." If you've invested time and effort into creating something, it inherently possesses value that deserves recognition.
By framing your offer as "No Cost," you affirm its importance while indicating that it doesn't require payment. Instead, it may require a different type of engagement, such as sharing an email address or phone number, to nurture an ongoing relationship based on the value you're providing.
Section 1.2: The Essence of Worth
Always remember: for anything to be truly valued, it must embody real significance.
I'd love to hear your thoughts on how you can apply this perspective in your business or career. Please feel free to share!
Chapter 2: The Language of Business
In this video, titled "Annoying Office Phrases We NEED to Stop!", we explore common phrases that can undermine communication in professional settings.
Another insightful video, "Ditch That Corporate Jargon | Business Lingo to Avoid," discusses the impact of jargon on effective communication in business.