You might have heard people say, “There’s no such thing as a free lunch”. This phrase started when American Tavern owners used to give free lunch to people so that people may spend more time in their bars and take alcohol. In short, the ‘free’ lunch baited people to spend more money in alcohol.
You may have seen lots of businesses telling you to download freebies in form of e-books, cheat sheets, tips & hacks, short form videos etc. In turn you trade in your email for the resource and what you receive are endless promotional messages in your inbox.
So should you really give things for FREE in your business?
Most people want free things, but very few want to buy them. How do you really turn the very big percentage of people who want free things into loyal clients? Humans have an emotional connection to the word FREE and are constantly drawn to free or very low-cost things.
There is a digital marketing strategy that goes like this;
1. Lead magnet (free opt-in)
2. Tripwire (low-priced offer)
3. Main offer (moderately priced offer)
So how do you really apply this strategy?
1. Create a Meaningful, High Value Lead Magnet
The best way to lure your clients is by giving them a freebie. This is what we call a lead magnet. The fact that it is FREE doesn’t mean it is worthless. It also doesn’t mean that it is very detailed and extremely valuable that it renders the main product useless. Think more of a ‘try before you buy’ product. Your lead magnet should be meaningful to your intended audience and should be of high value, not just another ‘free’ product.
2. Let it Have An Impact on the Client.
Make your lead magnet so impactful that your clients say, “Wow, this was such an amazing thing, I wonder what more this guy has got.” There are so many lead magnets out there that just sound like another free bait and don’t prompt clients to make the next move.
3. Reel Them Into The Main Product
Let your lead magnet contain an irresistible Call To Action that makes your client want to know more and explore your tripwire (your low-priced offer) or even your main offer.
4. Keep Asking
Humans will always be sceptical and must be fully convinced to buy in. Do not worry about sending emails and constantly talking about your product/service. This explains why you have so many promotional emails in your inbox. Those brands are relentless in making you want to buy in.
5. Stay Relevant
Humans love looking for the negative whenever they hear the word FREE! Since they want free things, they will still ask, “What’s the catch?” It is very important to stay relevant to your course; with your product/service so as not to break that trust you started building with your client.
I came across this crazy statistic, “9 out of 10 startups fail in the first three years of operation,” and that has kept me thinking. It is shocking that only 10% of people get to build something solid that can stand the test of time. There are about 7 billion people on the planet; just imagine that only 10% of them get to build something firm.
How about the 90%? What do they build? Well, everyone is building something. Everybody is building a house; someone is building using dried grass, someone else is building using wood, another mud, another stone, and another, always called out for being too proud, a snob and extravagant, is using precious stones.
Since everything is refined by quakes, shakes, and fire, only 10% of those who decided to build using precious stones stood the test of time. You see, precious stones are rare; they are expensive and hard to acquire. Only a few are willing to go the extra mile to search and get their hands dirty to dig for it.
The overwhelming majority keep wishing because they do not want to get their hands dirty. Sadly, they don’t even know what they are building, and they keep wishing that they were like the 10% who did their best to gain knowledge and skills to understand their ‘WHY’. They get to understand why building using precious stones is more important than merely using other building materials.
Ready to turn freebies into loyal clients? Download Bloom & Thrive and learn how understanding your ‘why’ can help you attract the right audience and build a lasting brand. Visit our shop for more e-books and templates.
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