Moving the Free Line | Freenium (Part 1 of 2)
Freenium (Part 1 of 2)
The single most important key to my business and online success has been learning how to employ one of the most common principles of influence, reciprocation.
The principle of reciprocation simply means that when you give someone something that individual will feel some sort of debt to you or compulsion to act to help you in return. Examples of this may be found in stores where free samples are given away, free flowers handed out, or free return address labels provided in hopes of securing your interest and serving you as a new customer or donor.
I once heard someone say that if you try to get $1 from a million people you will always be poor but if you try to deliver $1,000 worth of value to 100,000 people, 1,000 of them will purchase your product for it’s $1,000 value and that will make you a millionaire. The numbers within this example don’t matter – the point is that to become wealthy you must make others wealthy with your knowledge, service or experience.
There are many ways to deliver value. One would be to serve your current clients or any future ones so well that by word of mouth your business grows. Another way is through providing huge value to anyone who visits your website or joins your free email newsletter. This tactic involves sharing your valuable expertise without charging for it, showing everyone how they may benefit from your advice. This positions you as the expert, builds your authority and eventually will start showing signs of social proof as more individuals learn of what they can get at no cost.
Within every industry there are 1-2 leaders who are giving away in-depth white papers, newsletter subscriptions, and information websites at no cost. These businesses are the “free line leaders” and they often have a large following which is not only hungry to consume their current products, but they often help shape future product offerings. To become one of these leaders you must realize that your expertise and knowledge is only valuable when shared and if you are scared of giving away your advice and expertise at no cost than you will be an expert that nobody knows. The trick is to become THE expert that EVERYONE knows.
The more you give away the more your firm will receive in return. Take your most valuable secrets and release them within an e-book, free of charge for anyone who will provide you with their email address. My firm as done this and to date we have over 20,000 email addresses of potential customers from this tactic alone. Each day we get over 100 new leads into our database that we can grow relationships with.
To view Part 2 of this blog post please click here. This second part reviews 10 ideas on how you can implement these types of strategies in your business. Click here to read it now. For more information on reciprocation please see my post on Robert Cialdin’s social influence principles here: Robert Cialdini Book on Influence & Persuasion
Tags: Moving the free line, the free line, the line of free, offering products for free, freenium, freenium products, Premium, Reciprocation, influence, persuasion, influence guru
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Tags: freenium, freenium products, influence, influence guru, Moving the free line, offering products for free, persuasion, Premium, Reciprocation, the free line, the line of free
