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There's a famous marketer who said for every dollar you give me I'll give you a

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thousand dollars back. He ran an ad in the paper and he got zero responses.

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Welcome to the Jim Secrets podcast where you talk about how to get more

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customers, how to make more per customer and how to keep them longer and the

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many failures and lessons that we have learned along the way. I hope you enjoy

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and subscribe. Hello everyone and welcome back to I guess my show. So anyways, I

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guess you could call a show I don't know thoughts anyways. So I wanted to make

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something so this is called the offer is king and that's because the offer is

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king. So if you have a good enough offer you don't have to sell hard you don't

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have to have amazing copy or amazing creative. You just get a lot of people to

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sign up for your thing. And so if you really think about your business most

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businesses should be founded on a core offer that is exceptional. Like an

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irresistible offer that is what it's going to grow the business right. And so

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what I want to walk you through is three really good offers. The three

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components of those offers and then seven ways to ethically use for it. So we're

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gonna cover a lot of ground really fast. So three of the greatest offers of all

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time were dominoes offer. Some of you guys may remember this but it was delivered

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to your door in 30 minutes or it's free right. That's an irresistible offer and

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they had shit pizza. But because of that people wanted to make the order. They

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didn't have to sell them on it. They saw the offer and when they were hungry

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they were like shooting 30 minutes. I can do that. I can have pizza at my door.

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And sometimes it's almost gamification. It's almost a challenge. It's like well

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if it's not in 30 minutes I get the pizza free. So it was something that was

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incredibly compelling and it was one of the fundamental keys to their growth

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and why back in the days of yellow pages it was literally an entire section

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was pizza. No, the restaurant had a food category of pizza. Everything else

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is just restaurants right. So any of you that was because of that one key

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irresistible offer. All right. The next was 10 CDs for a penny right. This is

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from I think it was Sony way back in the day. Now obviously it came with continuity

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and so that was kind of like the first trial offer. But that offer is one of

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the single greatest offers of all time for those who are old enough to remember it.

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The third offer you may recognize which is when it absolutely has to get there

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by tomorrow morning and that is FedEx. So notice the first two kind of have a

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pricing component FedEx does not but it has a really high value component to it.

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So I just want to break down these things into three pieces. Each offer has a

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component of believability right. There's a famous marketer who said for every

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dollar you give me I'll give you a thousand dollars back he ran an ad in the

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paper and he got zero responses right. That is a crazy offer but it's so good

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that it's not believable and literally no one responded to the ad right. And so

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one of the things that makes offers believable is having a reason why that you

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would do this right. If you're like hey I'm you know I'm dropping all my

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prices by half off because I all my inventory is going to go bad people believe

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that they're like okay or like I'm overstocked and I got to make room for you

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know new new inventory everything's half off people believe that it's a good

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reason why right. So believability is number one. Number two is a high ROI offer.

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So basically an offer that people deemed valuable that can be communicated in a

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couple of words like guarantee your to your door in 30 under 30 minutes that was

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valuable. For FedEx it was at you know delivered to wherever you need to be or

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wherever it needs to go by next morning that is valuable right. You can give

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offers but if people don't find it valuable it's not going to matter right. And so

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the third piece is kind of the business around it right. And so that's kind of

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what I want to cover with free offers because you'll notice the penny offers

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basically free the Domino's Pizza offer has a free component to it and so

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understanding how to use free as a marketer is probably in my opinion the

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single most valuable thing that you can learn how to do. It's learning how to

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build a better mouse trap and so right now I'm working on a book called

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Acquire and the subtext is building a better mouse trap which is just kind of

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like how to structure offers in a way that you can get tons of volume but also

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make money on the offers right. And so this is you know my notes for the

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different ways that you can use free offers. I think I have seven on here so I'll

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walk you through them pretty quickly to just kind of explain them. So

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the benefit of having free offers is that you get the highest volume of leads

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right. Number one, number two it's it's typically the lowest cost to acquire

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customers so that's number two. And the third is that in my opinion the key to

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having massive growth is to having a free offer right and especially something

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that's irresistible that can spread through word of mouth that other people can

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comprehend. All right so first of the free offers is a free buy offer right so

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this is where you offer a so when someone comes in you offer a program for

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free as a benefit for signing up right. So Frank Kern we back in the day did a

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he had all of his courses that he'd ever made so high value offer probably

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$12,000 in value. He said I'll give you all of the courses that I've ever made

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absolutely free if you sign up for my $397 a month continuity right in my

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newsletter whatever right. So that's a free bribe offer so you can use the word

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free brings lots of attention has huge value in ROI but it was a free with

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purchase right. So that's kind of the idea is like if you buy this much smaller

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thing you get this huge value thing for free and it's also a really nice

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price anchor okay. So that's number one if you're doing a fitness thing it's like

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hey our six-week challenge is $1,000 or you can just sign up to become a member

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and get our $1,000 challenge for free and only become a member for $200 a month

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right. That becomes a really compelling offer lots of people say yes and you get

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people straight into continuity. All right the second is a limited free offer a

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limited free offer is let's say this is an AB close when someone walks in the

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door obviously the vast majority of the people listening to this are gym

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owners so I'm going to just make it gym specific. So if someone's coming in you

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say okay the free thing let's say you sign up for 14 day or let's say a 28 day

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you're coming in for 28 day promotion. The free thing has one you know you could

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say 28 day trial they come in it's one day a week of workouts you have no

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personalized nutrition no no accountability coach right. Now during the sales

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process they'll have already said they're not motivated they need help and so

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then you upsell right as American is apple pie a 28 day challenge or 28 day

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intensive or whatever you want to call accelerator where they they pay $199 or

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$299 or whatever for the enhanced version that has three workouts a week or

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unlimited workouts and personalized nutrition and an accountability coach and

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if they don't you know lose 10 pounds in the first 20 days you give them

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another 28 days free right. So you have an upsell from an initial offer that

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makes it incredibly compelling right that's the point so they get all this

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volume for free but then you can sell upsell three out of four people into a

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paid offer all right so that's how you use free and you can monetize it. The

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third way of using free is a free trial plus penalty so this would be a down so

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so these can be used in conjunction with one another so if someone doesn't take

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that that you know the AB close that I just mentioned you can say awesome if you're

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gonna stay then you have to put a card down because you want to be held

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accountable you have to work out this many times if you miss your workouts we're

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gonna charge you for the missed workouts and you have to attend the you know a

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feedback session and a transformation picture session and a nutrition session

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right. If you know show any of those it's 50 bucks and so they have a huge

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motivator to actually consume your product or service so the likely they

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convert in the back it is significantly higher right that's the point and so

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that way at least your trials become more qualified trials are more

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invested and it's a really easy close to close someone on a free trial if you

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can close free trials then you have other issues. Hey if you're a return

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listener and you have not rated or reviewed the show I want you to know that

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you should feel absolutely terrible about yourself and everything else in

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the world I'm kidding but it would mean the absolute words of me if you guys

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would go ahead and do that you don't even have to pause to show you keep listening

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and you can just do it with your thumb right now it'll take you less than 60

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seconds and like I said the only way that podcast grows through word of mouth

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and this is you joining hands with me and helping as many entrepreneurs as

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we can because no one is coming to save us it's just us all right so please go

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do that now and let's get back to the show. Okay the fourth one is a free with

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deposits so this is a classic the old six-week challenge that we ran for a

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very very very long time was probably the most popular fitness offer in the

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last decade was a free six-week challenge obviously you always have to be

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compliant put stipulations for any type of types of things things on your

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advertisements states differ etc but that's where if someone hits a goal they

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do an outcome they can get their money back or get it credited towards

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something so it's like it's free with a contingency so it's like you put

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x dollars down if you do xy and z you can either get it back or you can get it

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towards program whatever right that's kind of the pitch there so it's a free

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with deposit so free with stipulations all right the the the fifth way of doing

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free is free forever and this is a really compelling offer so this is where you

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have to really know your math strap works right so if you have multiple ways of

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monetizing a customer I could say for example I will train you for free for

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legitimate free like I will give you free training straight up your membership

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true forever right as long as you just do the things that I tell you to do which

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may include buying supplements from us that's part of the program now a good

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friend of mine owned a chain of a chain of franchise of weight loss clinics

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and they made only like 5% of the revenue on service and they made 95% of

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the revenue on supplements and so people come in and they'd essentially give

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the service away for free but they were required to use the supplements as a

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part of it so that's a free 100% free but you're you're you're bolting on a

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different revenue streams that's where you can offer multiple services and

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monetize a different service than the one you're giving away for free right and

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especially if you have something that's high margin you can give that away for

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free if something's high margin in low value it's an easy thing that you can

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give away for free and then give something else away that's higher per C value

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or make them buy something that's higher per C value people tend to appreciate

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physical products more than they appreciate service or value service all right so

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that's kind of a free forever model which is really understanding how you can

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monetize the second need the next thing they're gonna need after the first

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thing all right the sixth way is a free giveaway this is a classic you know you

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run you run a free giveaway let's say meals for a month right I'll pay for all

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your food for a month I'll pay for you or whatever right and so you get tons of

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people are gonna opt in for that and you say like well we you know we picked one

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person but if you still do the program it's this and we'll give you discounts

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you you know signed up right you know sign up to be a part of it so the thing

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is is when you have this people are still raising their hand to demonstrate

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they have a need for the service right and so if you have a giveaway that's

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perceived as high value and something that's related to the core offer that you

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have you instantly get tons of very cheap leads that are qualified for the

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service all right a good friend of mine just started running a $25,000

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transformation challenge and he's getting people to buy without even doing

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phone calls straight on the page because it's a $25,000 challenge and it's

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like three hundred bucks to sign up online so people are seeing the huge

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giveaway and they're choosing to participate to have the have the have the

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chance to earn that right now obviously with giveaways and things like that you

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always have to make sure you're not gambling all that kind of stuff but I'm just

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talking big high-level marketing all right the next and probably last one of

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these seven there's probably more these are just the ones I thought off on

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my head is a free with free with commitment so not contingency but commitment so

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that's where you say your first 28 days or your first month is free as long as

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you commit to a nine month contract or you commit to a whatever right and so

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when you do that you can still market free you so you'd have to again put

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contingencies in you want to be a compliant advertiser but that way you can still

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give people free on the front and it makes the sale very easy puts a little bit

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more of the onus on the fulfillment but if you get the commitment which you

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should then you will be able to convert a very high percentage to people in the

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front end and typically at higher average contract values because they're not

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confronting that price on the front end it's more like perceived value on the

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back end of their kind of sort of gonna see how it goes right now that being

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said during the process you still need to sell the people even if you're not

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closing them so even if someone has their car file and it's planning on

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rebuilding you still need to sell them on stage so just the big mistake that I see

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happen all the time is that when people give trials and things like that

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they're not actually they just sell the trial rather than selling the

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continuity selling someone on trials it's just selling them on trying it you have

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to still sell them again even if they're on you know auto bill or whatever

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because the thing is is you know 30% of the people who go through are gonna

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immediately call you up and say oh no I didn't mean to let that go through and

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then you have chargebacks all sorts of crap so you don't want that make sure

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they know they're gonna get billed and if it were me I'd probably only bill the

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people that I knew had been sold and had kind of at least verbally agreed to

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we already have the contract but at least I know that they're in so those are

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seven ways to make free offers to get lots of people in the door and make

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irresistible offers that will ultimately make you more money so learning how to

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monetize free is one of the best tools in your skill set in your toolbox and if

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you don't know how to do it you will be a significant disadvantage because your

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competitors will be and they can acquire more customers at a cheap

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price than you do and if they can monetize them in the ways that I just

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outlined and you just know the metrics you know what percentage convert what

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percentage stay with the average ticket is and that's why knowing the math is

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so important but if you know those metrics then you you can market with reckless

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abandon because you know what your LTV is and you know that you can win based on

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those numbers so anyways I was about before you the offer is absolutely king like

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if you get the offer right someone should be able to explain to someone else in

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like one sentence or two sentences what it is that the offer is if if you can't

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explain it like that then it is not clear enough to a prospect and if you get

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the offer right it will make you more money than you know what to do with