Why You Should Give Away Free Stuff RIGHT NOW
Imagine if everything in your business – products, services, the whole thing – became free all of a sudden. What would you do? Imagine if 10 or 20 years ago, you were offering a paid email service and Google came along and said, “Oops sorry but tough luck for you – we offer email for free now. All the stuff you’re making people pay for is now obsolete because we do it for free and we do it better”.
Imagine if all the information that you’re selling in a book is rendered useless because it’s now available for free on YouTube. Imagine if all the “workshop events” you use to go to for a $5,000 weekend were suddenly free in online videos. You don’t even have to go to university because everything is available online for free. What would happen to your business?
Think of How You Want To Be Marketed Yourself
The world is changing, so you need to change with it. There is a growing movement of businesses who give away all of their best stuff for free. Once you like their product and believe in their brand, then they start charging you money. So the question is, “How do you do this for your business?”
First, think of how YOU want to be marketed to as a consumer. How do you like to buy things? Do you like to be marketed to by a distant promise of some value down the road, something not tangible but good in theory, or do you like to read reviews of actual customers who have used the same products and services? I’m talking about the type of people that aren’t getting paid to market the service, they are just giving their genuine opinion and true life experience with your service.
The same way you like to be marketed to, you can market to your customers. I suggest to market towards the offering of true value in a person’s life, rather than some Machiavellian power play where you are focusing on exploiting your client’s fears and doubts. Try having your customers record and write feedback, and then put it on your website.
Give The People Want They Want
Start by giving away your best stuff for free, and calibrate your company’s future back from the audience’s response to the free work. Of course, down the road you will offer premium well-segmented services, but initially give them the best you’ve got, and document their reactions. You will learn more about what you have to offer, and what the people really want from this method.
Let’s say you’re starting a coaching business, for example. I would tell you to give away everything you have – everything from video blogs to your newest ideas – and only the life coaching and specialized training would be a paid service. Essentially the top 20% of your product goes towards generating income.
Give Away Free Stuff Every Single Day
The idea behind this is, first make your customers happy, and then they will want to come to you. A personal example is my YouTube channel. Every single day of the week, I’m releasing a YouTube video. If you do the math, 365 videos in a year, and only 50 views per day (give or take), you end up with millions of views on your YouTube channel, and thousands of subscribers.
I encourage you do the same. Shoot a YouTube video every single day, talk about your ideas, your information, how your business operates – the whole thing. Do this for an entire year, and then convert them into new clients and customers.
This sort of intense process will require serious content creation and skills development. It sounds easy to keep shooting a short video, but you would be surprised how much new information you will need to take on in order to continuously produce high-quality information and insights.
Free Offers Bring Customer Trust
Additionally, by giving the highest quality information you have, people are likely to think, “Holy shit! If they’re giving away all this great stuff FOR FREE, what could they possibly have if I just pay a small fee??” This is an old Eben Pagan theory. Give away the best for free, and your customers will believe they should pay for better than the “best”. The client will already be extremely pleased with your service because they’re already getting the great results for free, even if the paid product isn’t that much better.
Now, you may be wondering “What am I going to do with all these views, subscribers, and traffic?” Subscribers on YouTube are the exact same thing as your email list – they follow you, watch your products, generate interest, and stay engaged. You will want convert all those subscribers into sales. Convert them into an email list, and then start to sell to them.
You may be scared at the revolutionary nature of this kind of service, but the only byproduct of this you creating better work. Plain and simple. You’re going to need to redefine success in the creation of something new and inventive, not simply filling your pockets with a few coins.
Welcome To The Future
What you need to understand is that this is the future. Everyone else is going to be doing it soon enough. To look back at our earlier Google example, that’s exactly what they did. This is what Facebook did. This is what YouTube does. You can download MIT courses for free these days. The free option is so value-offering, that by the time you decide to pay for a service from one of these companies, you feel like you’ve already won.
So the action plan is as follows: Start a YouTube channel RIGHT NOW. Give away ALL the best stuff you have. You’d be surprised how quickly you run out of new stuff and have to create new content and take more action to stay relevant. Read new books, develop yourself even more, expand yourself and your business.
So will you be left behind on the journey to true value and wealth, still holding on to the “old” marketing tactics, or will you create something beautiful in the future?