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How Giveaways Increase Sales of InfoProducts
How Giveaways Increase Sales of InfoProducts
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Length:
36 minutes
Released:
May 20, 2017
Format:
Podcast episode
Description
Information product sales don't always increase with promotions alone Often they increase by giving away content that you could easily sell. But shouldn't you stick to giving away tiny reports? What if you were told to give away a big product instead? Would that reap any rewards? Find out in this episode on giving as a strategy. ---------------- In this episode Sean talks about Part 1: Small value giveawayPart 2: Big value giveaway Part 3: How to structure the giveaway and how often Click to read online: https://www.psychotactics.com/giveaways-increase-sales/ ---------------- n South Africa, there's a flower that only one insect can access. Orphium flowers don't contain nectar. Instead, they provide bees with pollen. Yet, not every insect can access the pollen. If you look closely at an orphium flower, you'll find the stamens are twisted and this, in turn, prevents the pollen from being stolen by visiting insects. Only one insect has access to the pollen in the Orphium flower. That insect is the female carpenter bee. When she approaches the Orphium flower, her flapping wings make a particular buzzing sound. Yet that sound won't make a difference to the flower. The stamens remain locked. At which point the bee changes the beat of her wings creating what we'd call the C note. That simple act gets the flower to seemingly unlock and shower the bee with pollen. In our business, we often seem to be like the other insects. We don't appear to be able to hit that C note and unlock greater products sales. Yet just like the wing beat of the carpenter bee, you can achieve a consistent level of success. So what's that note that you have to hit? And how often? Let's find out: 1) Small value giveaway 2) Big value giveaway 3) How to structure the giveaway and how often 1) Why Small Value Giveaways or Products Work If you were a rooster, would you be able to crow at any time? You'd think so, wouldn't you? After all, it seems like roosters cock-a-doodle-doo at any given time. In the journal, Scientific Reports, a study showed that roosters crow in order of seniority. First, the top ranking rooster initiates the crowing, followed by subordinates, all in descending order of social rank. In fact, when the top ranking rooster is removed from the group, the second-ranking rooster initiates the crowing. At all times the social rank has to be adhered to maintain the hierarchy. Fortunately, such a hierarchy doesn't have to maintained when trying to increase product sales. You can start off with a small value giveaway. So what's a small or low-value giveaway? When you get to the website at Psychotactics.com, you're likely to have run into a giveaway called the “Headline Report”. It's why headlines fail, and how to avoid that failure. To date, over 55,000 copies of that report have been downloaded. That report isn't a top-ranking, highly complex document. Back in the early 2000s, when we first launched a pre-Psychotactics site, I wrote an article about headlines, which turned out to be very popular. And by this point you're probably thinking, “Ah, it's a report, there's nothing new about a report.” You'd be right if you thought that way because the report itself doesn't do much. However, if you take a report that gets a client from Point A to Point B as quickly as possible, then that report becomes pretty magical. Which is what the Headline Report does. In under 10 minutes and in about as many pages, it takes you from not being very confident with headlines to getting a pretty good understanding of the working and the implementation of the headline. All over the Psychotactics website there are tiny reports of this nature They're all small value giveaways, but they do one thing and do it well. They get you from A to B in a big hurry. The hurry part is important because people are swamped with information. If you're able to create change quickly, they're more likely to decide to take the next step and implement what you've shown them. Once they implement,
Released:
May 20, 2017
Format:
Podcast episode
Titles in the series (100)
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