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Guest Post by Helen Munshi
A freebie, a freemium, an opt in, a lead magnet. You’ve probably heard these terms bandied about the entrepreneurial world, but what’s all the fuss about?
A freebie is basically anything that you give away for free in exchange for someone’s email address. It gets them on your email list. And we all know that email lists are hot property in the online world, if you don’t have one, you need to build one, like now.
Why do you need an email list?
Some of my favourite stats (I am a total business geek, so indulge me!!) really show that, yes the power is in the list. 66% of people will make a purchase from an email. They generate 170%+ more conversions than social media and with a much higher order value (3 times that of social media).
Also when someone signs up for your email list they are already warmed up a little to your business. It takes action to give you their email address. They’ve shown an interest in you and your business and you have taken the first step in the infamous know, like and trust game.
So why should you give something away for free?
It’s because value packed content that leaves them wanting more is the best way to build your list, get your audience to trust you, attract more clients and ultimately make more sales.
But it is so much more than that. It’s a way to give a voice to your ideas, your skills and your value as an entrepreneur.
Some people will only ever consume your free content, and that is fine. I see it as my way of adding value to people and helping them, no matter whether they can afford to pay to work with me or not.
Your freebie also acts as the starting point of your funnel and is the most effective way of turning the traffic to your website into potential leads.
What is the goal for your opt in freebie?
You want it to:
- Be a great introduction to you, the value you offer and what it is like to work with you
- Leave them wanting more and wondering what your paid stuff is like if your freebie is so jam packed with amazing help
- Be really accessible so they actually action what they learn
- Have a clear, quick transformation or purpose
- Be related to what you sell and what you do
There are lots of different options for what you can offer:
- Basic sign-up form – a great place holder before you create your freebie
- Discount code or free shipping – great for products business but make sure you cover your costs and are not making a loss
- Email mini-series – you can deliver PDFs, videos or audio in bite-sized chunks. It is great for establishing your credibility and starting to build a relationship over time
- Checklists – these are really accessible, simple and highly actionable
- Workbooks – these can be more in-depth and allow you to establish yourself as an expert. They usually involve a bigger transformation and add more value
- Audio/podcast – You could record an interview, guided visualization, something related to your business. It helps to build the relationship faster as they can now put a voice to the name
- Video – This is great for building rapport with your audience quickly
- Other options – quizzes, planners, challenges, online summit, join your private group, waitlist, sample of your book etc.
How do you choose which opt in freebie to offer?
The good news is you don’t just have to choose one freebie. You will create many over the years. For me there is always the perfect idea that comes from finding the sweet spot between:
- What is right for your business
- What is right for you, and
- What is right for your audience
To find the right option, answer the following questions:
- What are you selling?
- What freebie can you offer that is directly related to what you are selling?
- What is your natural voice? How do you naturally communicate?
- What do you know about? What are you passionate about? What are you expert in and could talk about without any prep? You always want to cover something you love as that will come across in your freebie, which will make it so much more engaging
- What can you create easily? We are all about taking action so don’t hold yourself up by trying to create something too complicated
- What can you help your audience with?
- What do people always come to you for help with?
- What questions do you get asked the most?
- What is a quick win or transformation that you can offer your audience?
- What does your audience need?
- How do they like to consume their content?
- What is their biggest frustration at the moment that you could help with?
- Which is your most popular blog/video/social media topic?
Look over your answers to the questions above and find the common theme. That is a great place to start with your freebie.
You can also look at some of your favourite websites and see what they offer. Think about what the style and tone is. What is the format? What transformation are they offering? Why do you like it? This will give you great clues as to what you might offer.
Want more help on coming up with ideas for your freebie, jump on over here: 5 Ways to Consistently Create Content Ideas to Increase Your Audience and Income
Time to make your final decision
Now it is time to fully commit to creating your first freebie and starting your funnel. You aren’t stuck with it forever, you can get feedback, look at your conversion rates and make updates as you go.
To help you make your decision, run through the checklist below. If you can answer yes to all the questions then you can’t go far wrong;
- Is it of value to my audience?
- Is it accessible?
- Am I talking about what my audience need?
- Have I delivered great value?
- Is it related to what I sell?
- Have I helped them solve a problem?
Now it is time to create the freebie. That is a whole other ball game.
Next Step: Grab your free detailed ebook on how to create content your audience will love, share and buy from: https://www.thestartupstudio.co.uk/take-action-1
Hi, I’m Helen Munshi, the founder of The Start-Up Studio. I am a creative yet practical business and content strategist. I work with growth stage entrepreneurs who want more in their businesses, more profit, more purpose and more fun. I help them get their ideas out of their head into the world in a way that they are proud of and also makes them money. I love all things business, having been working with entrepreneurs and in strategy for over a decade and set up and run multiple successful businesses.