I can still remember when I first started online…
Reading the recommendations of ‘so-called’ goo-roos.
Saying that you should give away your best stuff for free.
Aka “move the free line.”
There’s a saying I like:
“If You’re Good At Something, Never Give It Away For Free.”
Joker.
The following story from Ben Settle is a great example of the problem this can lead to …
“Imagine you have a grocery store, and you have a competitor across the road.
You have the same customers, the same traffic, the same exact products.
The ONLY difference is your marketing strategy.
Your competitor has been reading a load of internet marketing goo-roos stuff. And now thinks he needs to “move the free line”.
Which to some means giving away your BEST stuff upfront in the hopes of then HOOKING people into wanting everything else you’ve got.
And here’s what happens:
Your competitor starts giving a bunch of cool free stuff at the store – like fillet mignon, expensive desserts, etc. His “BEST’ stuff – free.
It makes him a bit nervous at first, of course. I mean who really gives away their BEST products free?
But then he relaxes when he remembers this is what, you know, the goo-roos do.
And hey, let’s face it, the dude gets a lot of traffic in his store!
He even gets a lot of sales, too. The only problem is his NET profits are a big fat ZERO.”
Ben goes on to say that more and more people start going to the store as they’ve heard about all the free stuff they can get.
And sure, he’s getting a lot of traffic – but they’re only taking the free stuff and not buying much.
Leading to less money and the competitor going out of business…
Better to give:
1. Irresistible Offers
2. Free “tastes”
Offers in the form of special sales (getting paid for what you sell).
Free tastes in the form of a small sample of your best stuff…
Zaf.
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