If offering free services, simultaneously nourish business’ value and financial sustainability

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 21, 2020, 7:37 AM UTC

Contra deals, where products or services are exchanged instead of money, benefit both parties.

This article states that companies being charitable amid the pandemic at the cost of commercial considerations isn’t advisable as both factors aren’t mutually exclusive. Businesses should be mindful that “overly effusive goodwill hype and blue nose communications” may breed distrust among consumers and seem manipulative.  

Businesses must nourish their own value and financial sustainability while offering freebies during the pandemic. Or instead of freebies, create valuable content for social media and websites to share actionable tips with customers.

Volunteering for social enterprises and donating to charities or crowdfunding can help businesses demonstrate their support. The author recommends giving extra bonus products or services to every full-priced service.

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