Are free lead magnets the best way to attract customers? Usually no, but sometimes yes. There are a few occasions when offering a freebie before asking for the sale is a smart strategy. But it has to be the right kind of freebie, meaning, one that attracts the right people and nurtures them toward a conversion. In this episode of The Inspired Business podcast, you’ll learn when you should use a freebie and when you shouldn’t—and why. Plus we’ll touch on what makes a freebie valuable (for you as well as for the customer) and why giving stuff away for free is still not my favorite strategy in most situations.
Highlights:
- One thing that makes me different from other digital marketing coaches
- When to use a freebie vs. direct to sale depends on two factors: price and marketing strategy
- In general, low-ticket can skip the freebie and go direct to sale UNLESS you’re using partner marketing. And high-ticket needs a warm-up offer… which may or may not be a freebie.
- Low-ticket through ads = direct to sale
- Low-ticket through email marketing = direct to sale for your own subscribers
- Low-ticket through partner marketing = lead magnet
- Lead magnet rules for partner marketing
- High-ticket = offering a warm-up / buffer experience is wise
Resources mentioned in this episode:
- Episode 6 - Why Freebies Are Hurting Your Email List, and How to Attract Subscribers Who Will Actually Buy From You
Podcast series on email marketing
- Episode 16 - How to get new email subscribers
- Episode 17 - How to communicate with your email subscribers
- Episode 18 - How to turn email subscribers into paying customers
Podcast series on partner marketing
- Episode 47 - What is partner marketing and how does it work?
- Episode 48 - Seven partner activities to grow your email list and your sales
- Episode 49 - How to find great marketing partners
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