Lookers Vs. Buyers

[Millard Grubb]

This will relate to another post I will post shortly.

I had a client last year that had thousands and thousands of followers on Facebook.

The client asked me to help turn those followers to buyers. I suggested that the client create a video explaining a procedure that would produce a "perfect" item for this group.

I suggested putting the video on a popular software-based webpage platform so it would be easy to take orders, etc. The platform worked perfectly. Ad copy was good.

The result?

4 sales! Yikes !

We concluded that because the client had given away so much information away in the past for free... that the followers assumed that they could produce the "perfect" item themselves without having to buy a product showing them how to do it.

It seems to me that just because someone has a lot of members in a group online... or a lot of followers... doesn't mean they will buy.

Just goes to show you, the best buyers are those who have already bought from you.... or those who have bought from someone else who refers you.

I tell this story to set up another post about selling magic.

[Dien Rice]

Originally Posted by Millard Grubb

This will relate to another post I will post shortly.

I had a client last year that had thousands and thousands of followers on Facebook.

The client asked me to help turn those followers to buyers. I suggested that the client create a video explaining a procedure that would produce a "perfect" item for this group.

I suggested putting the video on a popular software-based webpage platform so it would be easy to take orders, etc. The platform worked perfectly. Ad copy was good.

The result?

4 sales! Yikes !

We concluded that because the client had given away so much information away in the past for free... that the followers assumed that they could produce the "perfect" item themselves without having to buy a product showing them how to do it.

It seems to me that just because someone has a lot of members in a group online... or a lot of followers... doesn't mean they will buy.

Just goes to show you, the best buyers are those who have already bought from you.... or those who have bought from someone else who refers you.

I tell this story to set up another post about selling magic.

Hi Millard,

Thanks for sharing that story!

I agree... it can be hard to go from "free" to "pay", if it's not planned that way...

I think you have to plan it that way from the start. The "free" information should be an introduction, which can (and should) be very valuable. But if they want to get more advanced info, they can get the "paid" information...

If it's planned carefully from the start, of course, the "free" information marketing approach can work very well...

One business which uses it very well is Agora Financial...

https://agorafinancial.com/free-e-letters/
https://agorafinancial.com

They have a number of free newsletters. And if you want the deeper stuff, you have to pay... I believe they make hundreds of millions of bucks a year in profit (if not more)...

Best wishes,

Dien

[GordonJ]

Originally Posted by Dien Rice

Hi Millard,

Thanks for sharing that story!

I agree... it can be hard to go from "free" to "pay", if it's not planned that way...

I think you have to plan it that way from the start. The "free" information should be an introduction, which can (and should) be very valuable. But if they want to get more advanced info, they can get the "paid" information...

If it's planned carefully from the start, of course, the "free" information marketing approach can work very well...

One business which uses it very well is Agora Financial...

https://agorafinancial.com/free-e-letters/
https://agorafinancial.com

They have a number of free newsletters. And if you want the deeper stuff, you have to pay... I believe they make hundreds of millions of bucks a year in profit (if not more)...

Best wishes,

Dien

Agora targets people with money, INVESTORS. They know ONE thing about these people, they want to Make money and KEEP what they have.

Probably targeting top 10% of income earners with a certain political slant too. I don't think it is the FREE as much as the CONTENT/FEAR they invoke, if not using FEAR, (or LOSS) they go heavy on greed.

It takes a little time to pry the bigger money out of their hands, but the FREE reports help narrow down which type of promotion, what the pachinko sequence is going to be, which freebie is going to get the next and next and next...and that sequence is maybe determined by their requests.

A lot of the time, their BONUS FREE stuff comes with a trial or very light subscription fee too. These guys are as slick as they get, and testing is one reason they do the volume they do.

I feel that FREE information, depends on the MARKET and as we see, it works or doesn't. I once worked in a magic store, SPELLBINDERS in Kent (and later also in Stow) Ohio, the owner was magician Paul Burdick and he tested several different promotions. Free vs paid.

What the result was, was knowing your market. Getting kids into magic (funnel) with FREE tricks, or cards, was good, but for those practicing magicians, getting them to pay even for a small new trick, seemed to work best.

SPELLBINDERS was one of the best magic shops, comic books stores, costume shop, gaming (big on D & D) trading cards shops ever.

With information, IF you can figure out what they want...magicians MORE gigs, Higher Paying gigs, new and bigger tricks, etc. Then you can custom tailor THAT information to match the market and reduce the tire kickers significantly.

Gordon

[Millard Grubb]

A LOT of the magicians out there are lookin for more tricks, clever stuff to fool their friends.

A much smaller group is the actual professional who makes money with his craft. These folks were the ones I marketed to in the past. A few of my friends in the industry market to these folks too and have developed specific products that cater to this group.

Usually these products revolve around a specific program to a specific market or products. For example, there is a group of performers who have their own convention both on the west coast and east coast, each year. Their market? Kid shows... birthday parties, school shows, reading programs, and magic workshops mainly. They have their own association, too.