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Why not give my product away?

by jj1690
14 replies
I was going to release a product next month. But I have been thinking, why not give it away instead and spread some goodwill among the community and will add a lot of value. Another reason for me giving it away is to start branding myself and I feel it would be a quickest and most affective way of doing it. I was originally going to sell this product for $197 because theres so much packed into it. I think I could build a huge responsive list because of the value I'm giving away and theres a good chance other marketers could send there traffic to it as well which could get me out there even more. The only thing is that it could result in people thinking there going to get a pile of free stuff from me in the future. Overall I think this could get me out there in the community with some authority, Build a big list that knows me personally and I have added a lot of value for them and will reap the rewards in the future. Can you guys tell me what your opinion is?
#give #product
  • Profile picture of the author CynthiaNataline
    My idea is to have it as a giveaway for a certain period of time. After you have a certain number of buyers and testimonials, you can sell it in such a low price. Do that again and again while scaling up. That way, you can build your testimonial, your buyer list, including building your credibility for your branding. You can keep adding value when you're sending emails to your list. Hope it helps.

    eL
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    • Profile picture of the author mogulmedia
      Originally Posted by cynzdareveur View Post

      My idea is to have it as a giveaway for a certain period of time. After you have a certain number of buyers and testimonials, you can sell it in such a low price. Do that again and again while scaling up. That way, you can build your testimonial, your buyer list, including building your credibility for your branding. You can keep adding value when you're sending emails to your list. Hope it helps.

      eL
      I like this idea, that way you can build testimonials and buzz before you warn some cash for your product, not to mention an increased list size
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  • Profile picture of the author stoltingmediagroup
    Originally Posted by jj1690 View Post

    Can you guys tell me what your opinion is?
    Two random thoughts....

    1. After having given away an incredibly valuable product which you price at $197 ("because there's so much packed into it") in exchange for an email address, it's going to make it pretty darn tricky for you to top that freebee with a follow up (paid) product down the road. Your follow up product will have to be at least double the content etc, if you are going to put a price on it.

    2. When we give products away, we actually have a "real" value to them by currently selling them from our sales pages for a published retail price. Then when we give something away in the War Room for free that we normally sell for $97, or when we have a WSO for $97 for a product that we normally sell for $997 etc, then people appreciate it much more. "Planning" to sell a product $197 is not the same as having sold several at $197 first.
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  • Profile picture of the author Marketing Fool
    Why do you care if you "get your name out there" in the community?

    I mean...the purpose is to make money...not win a popularity contest. :-P
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    • Profile picture of the author seonutshell
      Originally Posted by Marketing Fool View Post

      Why do you care if you "get your name out there" in the community?

      I mean...the purpose is to make money...not win a popularity contest. :-P
      Yeh i understand where you are coming from, but people are more inclined to buy from a trusted provider that they know personally.

      There is literally two corner shops next to me, and i went to them both. One of the guys chatted to me and the other didnt, so now i always go to the one who i talk to. Not a classic anecdote but you get the idea?
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    • Profile picture of the author Lance K
      You aren't going to get many "other marketers" sending traffic to it unless there is something in it for them. They've worked hard to gain attention and trust from their audience, they're not going to dilute that just because you're giving something away that you think is worth $197.

      Now, if you paid them $1/subscriber and had a back end offer that you actually sell for a decent price & offer a generous amount of commission on that...then MAYBE.

      Otherwise, they'll find other ways to offer value to their audience. Ways that also have a positive impact on their own profitability.
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      • Profile picture of the author WillR
        Originally Posted by Lance K View Post

        You aren't going to get many "other marketers" sending traffic to it unless there is something in it for them.
        This.

        Giving things away is great but you will find it impossible to get anyone else to promote a free offer for you and thus your message only gets out to those who you can reach yourself.

        On the flip side you sell it and get some good affiliates behind it and you could make a heap of sales.

        Why not create a freebie that leads into your product. That way you still have a paid product affiliates can promote but you also have a freebie to build your list. The freebie should talk about some new concept or new way of thinking about something and it should lead them to your product being the obvious choice to implement that.
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        • Profile picture of the author clever7
          Originally Posted by WillR View Post

          Why not create a freebie that leads into your product. That way you still have a paid product affiliates can promote but you also have a freebie to build your list. The freebie should talk about some new concept or new way of thinking about something and it should lead them to your product being the obvious choice to implement that.
          You should also consider the fact that many people don't think that a free product is really valuable. So, you will give away something so valuable for you without being sure that this value will be recognized.

          I believe you should create another product to give away like Will suggests.

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          • Profile picture of the author WillR
            Originally Posted by clever7 View Post

            You should also consider the fact that many people don't think that a free product is really valuable. So, you will give away something so valuable for you without being sure that this value will be recognized.

            I believe you should create another product to give away like Will suggests.
            Spot on.

            Turning a valuable product into a free product will actually devalue it's perceived value.
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  • Profile picture of the author Sarevok
    You can give your products away, sure.

    But you had better either get something from it, or monetize your product somehow.

    What can you get? Well, an email address for starters.

    How to monetize your products?

    Maybe with affiliate links?
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  • Profile picture of the author mmchael
    1. It's harder to increase the price. It's always easier to reduce price.

    2. People do not value FREE and will not likely use it. If people hand over money they are invested in it and will more likely force them selves to use it to justify their spend.


    Suggestion:

    1. Put your sales page up on your main landing page and sell it.
    2. Contact targeted people and offer them a "Review' copy. Generally people you think will become affiliates and want to sell it.
    3. Test various squeeze pages on Adwords and specific solo ad lists with freebies. Places that won't get indexed and once gone are GONE. You can try your free thing but not do any damage. You can also test different price points this way.
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    • Profile picture of the author Lance K
      Originally Posted by mmchael View Post

      1. It's harder to increase the price. It's always easier to reduce price.
      You can do anything you want to the price with enough perceived value and a legit reason.
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  • Profile picture of the author zahanega
    I agree with the above posters. Offer a free review copy to established authorities in your niche and ask them to review your product. Include their reviews when you're marketing your product to give it credibility.
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  • Profile picture of the author dean20653
    My $0.02 is with WillR, personally I'd create a "teaser" freebie

    Email address for A, F, G, L, and Z and you like it ...Well for 197- You get the whole alphabet

    Give Warriors Revies Coppies (Limited #), Then Sell here for say 97, and to the public for 197...

    Best of luck
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