The 16th Minute: If you want it, Give it Away-Anonymous

Much thanks from Seth Godin's blog for this observation

"The first transaction

Do you really expect that the first time we transact, it will involve me giving you money in exchange for a product or service?

Perhaps this is a good strategy for a pretzel vendor on the street, but is that the best you can hope for?

Digital transactions are essentially free for you to provide. I can give you permission to teach me something. I can watch a video. I can engage in a conversation. We can connect, transfer knowledge, engage in a way that builds trust... all of these things make it more likely that I'll trust you enough to send you some money one day. I can contribute to a project you're building, ask you a difficult question, discover what others have already learned.

But send you money on the first date? No way.

The question then, is how much time and effort does your non-profit/consulting firm/widget factory spend on pre-purchase transactions and how much do you spend on trying to simply close the sale?"

Of late that has been my business model also utilizing the ideas brought out in the books by Chris Anderson, The Long Tail and Free.

"Chris Anderson demonstrated how the online marketplace creates niche markets, allowing products and consumers to connect in a way that has never been possible before. Now, in FREE he makes the compelling case that in many instances businesses can profit more from giving things away than they can by charging for them. Far more than a promotional gimmick, FREE is a business strategy that may well be essential to a company's survival." From Scribd.com