Thursday, June 29, 2017

Is It Better To Give Than To Receive? The Power Of A Give Away

May 7, 2010 by  
Filed under All Posts, Internet Marketing, Marketing

You know the old adage, it is better to give than to receive. We’ve discovered first hand that in marketing our videos and products that answer is YES! You not only FEEL good when giving something of value, such as a free product, helpful advice or links to important resources, but you also REAP a financial benefit.

So how does giving work to increase your sales?

Giving away something of value without any expectation that your customer will purchase your product or that you won’t lose your shirt in the bargain is an idea many business owners have to wrap their heads around. But if you get over the fear, you will quickly find that you will be pleasantly surprised, if not thrilled, with the results.

We now offer give aways for every one of our webstores – some of these sites only sell our DVDs while others sell additional items such as books and cards. Since we’ve done that over the past year our business has grown over 50%…during the current economic crisis.

Why do give aways work so well?

Give aways are really a win-win for a few reasons.

1) Offering a give away is a perfect vehicle to promote your expertise and yourself.

We’ve found that one of the best give aways is some form of valuable information your viewer wants. Since most people are searching the internet to solve a particular problem or find a certain piece of information, if you are the one who gives this to them then you become an authority for them to turn to in the future.

Of course, you also subtly promote your product and service in your give away. This works similar to other business materials you give away, such as business cards and brochures, but what you are giving has more value and therefore more likely to be referred to more often. That gives you incredible exposure.

2) The give away is at the heart of what is called permission marketing.

It would be wonderful if the majority of the people who visit your site buy your product, video, book, device or service on the first visit. Unfortunately it doesn’t usually happen like that. People like to shop around and yours may be just one site they stumble across. To get enough sales to sustain you on that type of hit and miss marketing involves generating a lot of consistent traffic to your website. And I mean A LOT as in thousands a day.

Once a visitor leaves your site you don’t know if they’ll return, and there’s a good chance they won’t unless you give them a good reason to do so. With all the websites available, they may have the intention of coming back but may lose your web address, type it in wrong, forgot about it, etc.

So what can you do to get them to return and get to know and trust you as a source? Enter the give away and the concept of permission marketing.

Here is how that works.

When you offer a give away, you want to ask for something in return. In the case of email marketing, that is their name and email address. Think of this as the equivalent of that bowl you find at many restaurants where you can drop your business card in to win a free meal. Then that restaurant markets to you in the form of sending you information on upcoming specials, coupons, etc. If you like the restaurant and what they have to offer, you’ll probably go back.

Like the restaurant, you offer them a valuable give away in exchange for something in return… the permission to market to them via their email address.

If you are able to capture their name and email address, you don’t have to just hope they’ll bookmark your site and revisit. Now your visitor doesn’t even have to remember to come back to your website again to shop with you. They have given you “permission” to communicate with them and now you are in control of the sales messages they get from you, when they get them, and how often.

You have brought them into what is called in marketing lingo, “the funnel.” When you combine this stategy with an autoresponder system where you automatically send them emails at ongoing intervals, you will get exciting results. Email software programs such as AWeber and ConstantContact offer autoresponder systems. You also get them in shopping cart software such as the one we use, MarketersChoice. This follow up system is why it’s worked so well for us and it will for you too.

The reason all this give away stuff works so well is because it’s human nature to want to give back if you receive something you find valuable. Why do you think so many non-profits send you free greeting cards, mailing labels, other small gifts in their solicitations? People feel obligated to pay back for receiving such gifts. It also creates a relationship between you and the recipient.

If in each email you send, you downplay your sales pitch and focus instead on giving them helpful information, you enhance your likelihood of them doing business with you and will convert many on your email list to buyers down the road. By doing this you are seen as a benevolent helper, not just another vendor trying to sell something.

They get something they needed and appreciate you for it, you get the sale and the satisfaction knowing you helped someone. Win-win!

To give you an example of how successful this has worked for us, I just crunched the statistics on one of our sites – http://LearnToDetail.com. I found that 22% of the people who visited our site and signed up for the free report we give away bought the DVD at a later date. 22%! That may not be impressive if you are new to selling your products but a conversion rate such as that is incredibly high in this industry. The average conversion rate for direct mail marketing is 1-2%.

When we get notifications of sign ups for our give away, we are just as excited as getting an actual sale because we know we have someone who is truly interested in what we have to offer and will in all likelihood, buy from us later.

So as you are planning and producing your video, also be thinking and creating another product, video, eBook, audio program, etc., designed specifically to give away. Keep it related to the product you wish to sell, but different enough that it won’t take away from your sales. If you implement this correctly, you will be well rewarded for your generosity.

For more tips on marketing, sign up for your immediate access to your FREE How To Sell Your Videos Kit on the right.

Be Sociable, Share!

Comments

One Response to “Is It Better To Give Than To Receive? The Power Of A Give Away”

Trackbacks

Check out what others are saying about this post...
  1. […] This post was mentioned on Twitter by Rick Smith. Rick Smith said: New Blog Post: Is It Better To Give Than To Receive? The Power Of A Give Away http://ow.ly/17iLzl […]



Comments

What do you think of this post? We'd love your comment! Let's get a discussion going.
Oh, if you want a pic to show with your comment, go get a gravatar!

*

Get Adobe Flash player