Getting something FREE feels very good.
But it can be dangerous.
For example, have you ever collected free pens, notepads, and samples at conferences, even though you'd have to carry them home and would throw most of them away?
Humans are intrinsically afraid of loss. That's why marketers put up "money-back guarantees" claims to minimize the perceived risk their customers take when buying their product.
But there's no visible potential of loss when we choose a FREE item.
Things that we would never consider buying become very appealing as soon as they are FREE.
Smart marketers know this.
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Case in point: The MIFGE
In Russell Brunson's book, the Linchpin, he mentioned something called the MIFGE.
The idea is to give something valuable away for FREE, with the condition that the customer buys something.
In Russell Brunson's case (he sells a funnel software) – it is get a bunch of courses, books & templates FREE! Just start a 14-day trial on our software, which becomes $297/month after that.
He's not the only one who's used such tactics.
Remember DVD players? Companies used to run promos that said, "Get 7 DVDs FREE, when you buy a DVD player."
Because the 7 FREE DVDs are so alluring, you may end up buying a DVD player, even if you don't need one in the first place.
Using FREE to sell more products
Armed with this knowledge, put on your marketing hat.
What can you give away for FREE, when a customer signs up for a trial or buys your product?
Here's another case study to inspire you:
In the late 80s, Sports Illustrated was struggling to sell its magazine subscription.
The solution: Make a football-shaped phone, give it away for FREE, and a FREE copy of the swimsuit issue when customers buy a year's subscription to Sports Illustrated. They ended up selling 1.6 million new subscriptions.
Check out their ad below:
No free tickets, ever.
No free tickets at Underdog Con. That includes the upcoming Underdog E-Commerce Con on 21st March at APW Bangsar.
And that's a good thing. Because you'll meet driven, motivated and serious people. There will be business opportunities, great networking, and out-of-this-world learning at Underdog E-Commerce Con with the people coming.
Because people who invest in themselves, take it seriously. Let's roll at Underdog E-Commerce Con.
