My new Product - Sell for $$$ or give away for free??

23 replies
Hey Warriors, I'm in a dilemma...

I'm about to release a brand new ebook and 7 day ecourse on how to create your own products in 7 days or less. It's called The Seven Day System and when I released version 1.0 a few weeks back as a review copy to a few Warriors it got rave reviews.

I've been working on adding more content (another 15 pages) and editing the ebook to perfection over the last two weeks and I'm very proud of what I've accomplished.

I was planning to launch it next Tuesday as a WSO but I don't know if I should charge for it or give it away for free (you must opt-in, of course).

I HONESTLY think the ebook and ecourse together would retail for $37 or $47. I've put in countless hours into making sure it's just right and I think the content is extremely helpful. Other warriors who read version 1.0 absolutely loved it and I got tons of positive reviews.

My question to you: Is it worth giving away a quality product to build my mailing list? Or would it just be better to sell it for $$$ as a WSO?

The reason I'm asking this is because barely anyone has heard of me here and I'm afraid they will just opt-in to get the gift and then opt-out.

I'm thinking with my ROI in mind. Would making $500 from a WSO be better than giving it away for free and emailing affiliate promotions to my list? I have no clue how many people I could get on my list if I did... or how much I would make per month from my list...

Has anyone else had the same thoughts as me or been in the same situation?

Thanks!

Kevin Pasco
#$$$ #free #give #product #sell
  • Profile picture of the author ktpasco
    An hour later and no replies? I know the size of the post is daunting but I need your opinion, Warriors!
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    • Profile picture of the author Jhf14
      why don't you try giving away some free chapters of the ebook and then charge a discounted price for those who signed up for the free chapters... this builds your list a bit and you may still get some purchases if your ebook holds its weight
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  • Profile picture of the author crecemedia
    This is one big question! But I know where you are, Im an affiliate and have just finished building my own product but still dont know.

    Before I was planning on selling it for $27 (its a diet motivation course, guide and membership) but I have worked so much on it that I just want to give it away and build a quality list.

    To give my 2 cents, it depends on the state of mind your in. Are you desperate to make money or would you be willing to invest in your long term business? My advice is to make money on other methods while you build your list with your new product.

    I'm inclining to start a list because I want to build buzz around my name, if you give away a truly great product, people will vouch for your name and builds up your reputation and in turn improves your conversion rates for future launches and releases.

    One good tactic I would recommend and would commit to do so along with you if you agree...

    Give away the product. Build the list and reputation. Then start doing small product launches, fix one problem at a time and have them keep wanting for more. In your case do mini-product launches where you solve 1-2 problems in product creation, not a full all-in-one-solution-and-amazingly long product.

    I believe this is the way to go, but would really like to hear your thoughts. The most important thing is to make a choice and stop thinking too much...so lets do it! (or not!)

    Cheers,
    Francisco
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  • Profile picture of the author Vic Shake
    Kevin,

    You can do two things with it 1 take some portion of the e-book and give it away free then the rest charge them for it. best way to do it. you will build your list and some $ in your pocket- incentives
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    • Profile picture of the author mello
      Originally Posted by Vic Shake View Post

      Kevin,

      You can do two things with it 1 take some portion of the e-book and give it away free then the rest charge them for it. best way to do it. you will build your list and some $ in your pocket- incentives
      I'm with Vic.

      There's a reason why your're conflicted. Perhaps you've put so much into this product that you feel giving it away is robbing yourself in a way. Maybe by splitting the book, or producing a pre-main-offer book for free you can then feel more relaxed about seling the main-offer you've already created.

      Often a first production is brilliant value and that's a good thing - just make sure you have a set of solid back-end offers if you give this one away.

      All the best with it!
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  • Profile picture of the author patselby
    Give away some of it and charge for the rest. You have the right to make money on something that you have worked hard on..people will also see that there is value to your work if you charge for it. You know, saometimes people see soemthing for a $1 and another thing for $100; serves the same purpose but allot of people would choose the $100 item becausre their is a greater perceived value for that product.
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  • Profile picture of the author Tommy Turner
    Here's a question for you -

    Could you make a good living online giving products away?

    I mean good products.

    The answer is - YES.

    Give away 50 copies or 100 or whatever...

    Then get some great reviews and/or positive feedback to make some revisions.

    If you have already given away several review copies and have some powerful testimonies to put on your sales page then sell it!

    Personally; my goal is always to give away a couple million dollars worth of products every year.

    If I hit my numbers of giving away a 2 million dollars worth of products based on products I assume are worth $47, $67, $97, etc...

    Then I will be growing a very happy following that will buy at some point.

    Tom
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  • Profile picture of the author proldani
    Man, you are just a single step from becoming an authority!

    What do you think people in the make money online MARKET (hate the word niche with a passion) are looking for? yes, we all want a bit of hype, and in my opinion sales letters will not die, but what many newbies NEED is a no B.S. approach to building a business.

    Millions of sad and hopeless people around the globe are actually DEMANDING top web marketing advice which, in itsefl, becomes one hell of an opportunity for those who want to be instructed without being told CRAP. If you got that, then you are on your way to becoming a wealthy marketer.

    Come on and stand out; provide the web with top content, make money by helping people out there and your life will never the the same.

    Provide PROFESSIONAL advice and people will follow you. That's pretty much needed in this crazy world. Become a pro who is willing to shape ordinary people into marketing pros and enrich your life.

    I'm waiting!
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  • Profile picture of the author proldani
    BTW, giving away your ebook or making people pay for it becomes useless as soon as you are able to provide people with value. Become a valuable teacher and even MORE money will come, regardless of what you want to achieve in monetary terms.

    also, become an entertainer. Do you know why I keep on following certain IM gurus! First and foremost they entertain me like crazy, so take that into account.
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  • Profile picture of the author Roger Santos
    I would not give the whole product away for free, but you could try creating a free report with some tips or something else of value, just make sure it's good content.

    Then people will be more likely to see the value and want to purchase the full product.

    It works on me every time!

    Something like ...

    Top ten tips on blah blah ... (really good stuff)

    then at the end of the free report ... let them know there's actually 100 tips and if they want all of them, they'll have to purchase.
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  • Profile picture of the author UBotBuddy
    proldani makes a VERY good point about becoming a valuable teacher. That is why a few newcomers in here have done well (at least that is my perception).

    I am in the same boat. I have been working on a product for the past year. It is a technique that has never been used and I see the results in my sites.

    So giving something away with tremendous value can have a reciprocal effect.

    What I am contemplating now is whether or not I want to gamble and setup a membership site to coach the followers. Of course I would use a low price just to justify my time (i.e. $7 for a Lifetime membership).
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  • Profile picture of the author jbode
    I say give away a few review copies... get some testimonials
    Sell it for a low price, then work on a backend/upsell product to go with it!
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  • Profile picture of the author DennisM
    Hey Kevin,

    First, DO NOT give away this product without a backend product to upsell. Your upsell could be a one on one phone call, a private webinar or even a private prerecorded video. This way, you can build your list AND still make some money.

    Me personally, I would GIVE IT AWAY to a guru marketer. That's right, give it to him/her and let them promote and KEEP all the money. All you ask for is to get the optin to download the product. Your mailing list will EXPLODE with real BUYERS. This is also a quick way to gain credibility.

    Still, one other option is to approach respectable fellow Warriors or even a guru and ask if they'll make YOUR product a one time offer on their next launch. Offer to split the revenue or even offer a 80/20 split where they keep the 80%. Again, a quick, fast way to build a list and also, this requires almost zero effort by the marketer. You are the OTO!

    If you decide to promote on your own I would still build a list. This is a must really. What you could do is offer a "leaked" chapter of this product or a short 5 - 10 page overview report for the optin.

    Good luck!
    Dennis
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  • Profile picture of the author rapidscc
    I have 4 tips for you...

    1. Sell it
    2. Sell it
    3. Sell it
    4. Sell it

    If you want to gain credibility sell it at a low price..this will give the impression that you over delivered.

    If you want to build a list. Give one module for free when people sign-up to your list and then offer the entire product, again at a reasonable price.

    Sell it as a WSO, if it passes through warrior forum with flying colors you might have a good product for other markets (think clickbank, etc.)

    Sell it. You already have a cash machine in your hands. Why give it away for free and gamble on an affiliate product you can promote in the future that may or may not convert?

    All the best,

    Omar
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    • Profile picture of the author USGTMauthor
      I am in a similar situation. I am not sure I am an expert, but I have a time management ebook, it is only $5.00. I have not wanted to give it away in hopes someone comes to my blog and clicks on someone else link nor do I want to sell another product which is inferior or more expensive than mine. So I am trying to promote it with articles and online classifieds.
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  • Profile picture of the author GingerColeen
    I've seen some good replies here and some not so good replies! Have you ever run a WSO before? I haven't, so recently I've purchased some very good materials on how to run a WSO. And, I bet you can guess where I got them!

    One of them is the No BS WSO Bootcamp from Mario Brown. He covers this exact question in his materials and has some very good suggestions and rationale for how to do this.

    So, my advice to you is to learn from the people who are already running successful WSOs and have crossed this bridge before. Some of them are now selling WSOs on how to be successful selling WSOs!
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    • Profile picture of the author Marian
      I guess giving away a short version of the report for free would work. Include some really good tips and also a link to buy the full powered version inside. :-) So when it's good people will buy and sign up for your list as well. That way you also receive a feedback that tells more about the quality of your work.

      Marian
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      • Profile picture of the author Ralf Skirr
        Since you say you have no idea how monetizing the free give away later will work, I would not go that route.

        Sell the product at an attractive price.

        If it bombs you can give away free later.

        If it sells you made some money and you built a list of BUYERS instead of a list of freebie seekers.

        Ralf
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  • Profile picture of the author Graham Maddison
    This is a very interesting question and one which puzzles me also.

    I recently launched my first ebook and tried selling it using my own marketing efforts, but found very few takers....so my next thought was to give it away as a means of building my list.

    Somewhat reluctantly, I decided I was going to give it away.......but then, I thought lets see what happens when I give the option of buying it or getting it for free if you sign up to my list. Effective Keyword Research For Newbies On A Budget

    The results have amazed me.....I have almost an equal no of sales of the ebook as I do free copys for signups ......so, work that one out if you can!

    Graham
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  • Profile picture of the author Liane Fitzpatrick
    I think if you are considering offering part of this product free that you offer the 2nd part free and to get the 2nd free part they must buy the first. If the content is good you shouldn't give it all away without a financial commitment. Wishing you the very best, good luck, Liane Fitzpatrick (Sagelife)
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  • Profile picture of the author ktpasco
    Dear Everyone:

    Thank you SO MUCH for your advice and kind words, I had no idea I'd get this great of a response!!

    Your suggestions are all fantastic and It's wonderful being off the computer for an evening and coming back to a response like this.

    I've read over all your replies about 3 times now and there seems to be a theme here:

    Give away a portion and up-sell to the full book. This is a fantastic idea and I totally agree with all who said that.

    Here's the thing though. Should I run a WSO for the full eBook or should I make it free and have an opt-in that upsells to the full ebook?

    I'm thinking the second way but let me know if I'm right or wrong.

    Here's the deal:

    The full ebook is all about how to go through the product creation process in 7 days or less which is why it's called The Seven Day System.

    I could create a free report called "The Top 10 Mistakes Internet Marketers Make When Creating Products" or something and give it away for free when the person opts-in. After they confirm they will get an up-sell to the full ebook.

    I was going to pull the last 5 or 6 pages from the full book (a full step-by-step checklist) but I think having a "Top 10 Mistakes..." special report is better because no one wants to make mistakes right? It's more appealing to people and will increase my opt-in rates.

    What do you guys think? Am I on the right track?

    OOHH PS... As a token of my gratitude I'd love to give you all the full ebook and special report with 7 day ecourse absolutely free... just for helping me out here
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    • Profile picture of the author CDarklock
      Originally Posted by ktpasco View Post

      Give away a portion and up-sell to the full book. This is a fantastic idea and I totally agree with all who said that.
      Yeah, I was about to say the same thing. I believe "+1" is the way the kids say it these days.

      Here's the thing though. Should I run a WSO for the full eBook or should I make it free and have an opt-in that upsells to the full ebook?
      Both!

      1. Put your free excerpt on your squeeze page to build a list. Encourage people to share it. Put a link to your opt-in at the front of the excerpt. Put a link to your full version's sales page at the end of the excerpt. Make an OTO for your product when they sign up.

      2. Put the same free excerpt in the War Room with no opt-in. Link to your opt-in, too, so Warriors who want to opt-in can do so.

      3. Start a WSO for the full version. Link to your opt-in page, if people want to see the excerpt first. Link to your main sales page, so people can see what kind of discount you're offering. Say it's available in the War Room, but don't link - not all WSO shoppers are members of the War Room, and waving the link is like teasing a dog with bacon.

      So now you have a number of things going on. You have a squeeze page building your list, the viral sharing building your list, the War Room building your list, and the WSO building your list. You also have the OTO selling your product, and a sales page selling your product, and viral sharing selling your product, and the WSO selling your product.
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      "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
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