How to Make Money by Giving Stuff Away
It's a paradox that makes solid marketing sense: the more you give away free, the more money you'll make. To a point, that is, keeping in mind that your goal in giving things away free is to create top-of-mind awareness, establish yourself as an expert, and make people feel indebted to you.
Here are several kinds of giveaways that will make your prospects want to return with money in hand...again and again:
1. Completely free, no-strings attached stuff. This includes articles, reports, white papers, e-books-all of which establish you as an expert in your area. These things are usually intangible, electronic products and cost you virtually nothing to provide. It must be good material, however, or you risk making a bad impression and losing the prospect forever.
2. Stuff that's free, but for which your prospects must trade their contact information. This is an excellent way to create a list that you keep in touch with indefinitely. It could include a monthly newsletter, special offers, additional articles, etc. Free stuff with strings attached has a higher perceived value than completely free stuff.
3. Higher-value free stuff such as bigger and better e-books, tangible books, audio and video materials, membership in a teleconference series, and so on, all of which strengthen your image as an expert. While it may initially cost you, you can create a demand for these products and eventually sell them to a large number of customers or clients you can't reach in person and/or who couldn't otherwise afford your product or service.
4. Last but not least, a free consultation. Give it a specified length of time (say, a half-hour) and a value. If you're a lawyer, for example, who typically consults at $500 per hour, a half-hour consultation would have a real value of $250. Who wouldn't want that for free? And once you've begun a dialog with your prospect, he or she will most likely come back to you with a need for a fee-based consultation or other purchase.
The goal here is to convince your prospect, in a safe, no-obligation way, that you are the right choice. You hereby turn a freebie into a paying customer/client.
The same principle applies to copywriters. Don't choose a copywriter until you find one who's proven that he or she knows what marketing is all about. You can usually tell by the quantity--and quality--of material they give away. Free.
Lisa J. Lehr is a freelance copywriter specializing in direct response and marketing collateral, with a special interest in the health, pets, specialty foods, and inspirational/motivational/self-help niches. She has a degree in biology, has worked in a variety of fields including pharmaceuticals and teaching, and has volunteered for many causes including special-needs kids and literacy. When she's not writing, she enjoys reading, art, music, outdoor exercise, and all things Celtic and Renaissance.
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