Everybody loves a freebie! What do you currently sell, that is of value, that you could offer for free? Giving away something of value can help you monetize your back end.
You don’t need to make money initially provided you have an offer that you know converts on the back end. This works especially well if you can offer something that other businesses would normally charge for. the higher the perceived value the better.
For example, if you have a corporate cleaning business, you could offer your first clean free. Follow up with your customer to see if they were happy with your service and would like to continue.
This is a great way to get new clients to try your service, as you’re taking all the risk out of it for them and, if you do a great job, chances are they’ll want to keep you on.
The principle of reciprocity comes into play here too – you’ve given something of value to them and chances are they’ll feel the urge to do the same back.
A twist on this model is the “free plus shipping & handling” funnels, where you offer something for free on the front-end provided the customer covers a small s&h fee (usually under $5). As long as they think the value is over $20, they’ll regard it as a bargain and be inclined to jump on it, even if they normally wouldn’t have bought it right then and there.
Have a high value offer on the back end
The essential to making this model work, is to ensure that you have at least one high converting, high value upsell on the back end to really monetize it. The real money is made in the upsell funnel, as it’s hard to make a lot from a free plus s&h offer.
Typically you want to have a continuity offer (like a membership or something along those lines), a low to medium priced offer, and a high-end offer as an upsell.
As an added bonus with this model, you also collect quality buyer leads, and often without having to pay a lot in advertising costs to acquire them.If you need an easy way to find leads for your business then try the Coldreach lead generation software.
Buyer leads are worth far more than non-buyer leads who just signed up for free information. The fact that they paid for the shipping costs proves they are willing to get their credit card out. You can market more offers to them in the future and make even more money from these proven buyer leads.
Giving away something of value can help you monetize your back end. So first think about something that has real value that you can give away, and then look at how you can monetize the back end.
Use complementary offers for best results
The freebie and the upsell on the back end should be complementary to, and congruent with, each other so that the upsell makes total sense.
It makes sense to work backwards for this. Decide on your main product offer and then work out what would be an attractive giveaway to attract the kind of prospects for that main product or service.
Whether it is a sample of your service or a physical product, this strategy works especially well if it is something that your competitors usually charge for.
For more insights on how to create a sales funnel that maximizes your profit potential, check out this free tool here: BizFire’s Free Funnel Maker & Analyzer
