MLMT 134: The Best WORD In Marketing FREE
MLM Trigger Episode #134
Today we are going to talk about one of the most popular strategy in marketing… using the word “FREE”.
Free samples and free trials are everywhere, online and off. Why?
Because they work like crazy to get people’s attention, people just can’t resist the word FREE. When you read the book by Dan Ariely “Predictably Irrational”, he talked about an experiment studying the effects of the word FREE on buying behavior.
LISTEN ▶️ The Best WORD In Marketing FREE
You can read about the entire experiment in his book, but the most interesting part: Researchers offered a group of students a Lindt Truffle for 15 cents and a Hershey’s Kiss for 1 cent and then observed buying behaviors. They found that about 30% of participants went for the Kiss, and 70% chose the Lindt Truffle.
When researchers dropped the price of both chocolates by one cent, they offered the Lindt truffle for 14 cents and the Hershey’s Kiss FREE… suddenly 70% took the free Kiss, even the price between the two was still the same.
They ran this same experiment over and over on college students, children, adults, yet the results stayed the same. The power is in the word FREE!
How can you offer something in your business for free?
If everyone in your MLM industry is offering discounted products, Then you can offer yours for free, suddenly the majority of people are going to choose you.
So, how can you structure your offer to give something away for free?
You need to come up with your own experiment to test the effects of offering something for free. Do a 100 Visitor Test. Run it many times in different environments with different target audiences and products.
Here is how it worked: You sent 100 people to your website where they could purchase a product. The product is offered for the same price your product is. After you test and tweak it, you should get about 1% of cold traffic to convert and buy the product. So, for every 100 visitors, you make $$$ price product, and you get one new customer on your list. Most marketers would consider that result about average.
But the best part is to put it into a form giving this product for FREE if they’d help cover the shipping costs. After people signed up for the free-plus-shipping offer, then you immediately up-sell them on the same $$$ price product you were trying to sell before… and on average, 8% of people will purchase the free-plus-shipping offer and also will purchase the up-sell.
Now, this is where the magic happens. Because the customer have ALREADY pulled a credit card out of their wallet and made a commitment towards what you are selling, about 25% of free-plus-shipping customers will buy the up-sell offer. That means you sold more $$$ price product per 100 visitors, and you got eight new buyers on our list. You almost doubled your money and got more customers by adding in a free-plus-shipping offer!
I don’t know what it is about buyer psychology, but once you get someone to say the first YES, it’s so much easier to get the second yes. You get them started by saying yes to a small thing, then they are much more likely to say yes to a larger thing later.
The free-plus-shipping offer is a very powerful thing. You want to make the free offer physical because it gives you the ability to use the word FREE, while it also requires the interested customer to pull out their credit card to pay for shipping and qualify as a buyer.
THE FREE-PLUS-SHIPPING ORDER FORM BUMP is one of the biggest secret that the successful internet marketers apply to their strategies. It will increase your frontend revenue and takes about five minutes to implement to dramatically improve your bottom line.
Here is how an order form “bump” works:
By adding a small box on the order form AFTER someone fills in their credit card information, but BEFORE they click on the submit button.. The small box works miracle… You can get an average of about 25% of your customers adding the $$$ price product to their order!
Let’s review what we talked about:
This means that by using a free-plus-shipping offer, you immediately get three times as many customers.
And by adding a $$$ price product order form bump offer, you are able to get about one out of every 4 people to order the more expensive frontend product. This new tactic can give you almost the EXACT same frontend revenue, but it can bring you three times more people through your up-sell flow.
LISTEN ▶️ The Best WORD In Marketing FREE
May you be wealthier,
--Corine-
The top producers in MLM don't make a list of 200 people, don't do home meetings or anything like that. They use something equivalent of a sales funnels.