Today's Secret: Give It Away
I know this struggle all too well because I went through it early on in my journey as an online entrepreneur.
Many of you know I spent 27 years serving in pastoral and ministry roles with the church. As that time in my life ended, I started coaching husbands on how to deal with relationship problems at home.
One problem! I needed money now to compensate for the money I'd spent on becoming a virtual coach with Eben Pagan. With that in mind, I put together a coaching program and was sure people who knew me would buy it - simply because they knew, liked, and trusted me. The truth is that five brave souls agreed to go through the first round of group coaching, which went very well. None of them, however, chose to go to the next level and purchase the longer-term and more costly coaching.
The greater reality, however, was that I was utterly unknown in the online world. Launching an online presence (while the gurus make it so simple with steps 1, 2, 3...) is very difficult and time-consuming for most of us.
Because I was launching something unique and creating the resources myself, I was taking even more time. It wasn't until about four months into my exploration of this new type of business that I discovered the critical importance of GIVING GOOD STUFF AWAY!!
As I took a step back and focused more on the value I could give away (in exchange for building a list), I created an effective lead magnet with the help of some great coaching friends, which started the process of actually building my list.
Fast forward just a few months later to when I bought Groove. Sanjay, one of my coaching mentors and friends, came to our post-virtual-coach mastermind and talked about Groove in July 2020. Being a tech nerd and having felt the struggle of cobbling a bunch of products together to build my online presence, I decided to buy into it - knowing that I only needed to sell three to get my money back and would not have lost any money in the process.
But as I did several webinars to show our friends how to use Groove, I realized that Groovesters would need ongoing help and a community. Sanjay and I talked it over and made a critical business decision. I'd offer a free workshop or challenge and establish myself as someone people can turn to for Groove advice.
As of today, it has been just a few months over two years. In that time, I've given more than 300 of these workshops (more than 600 hours), built a highly engaged email list of more than 1,000 people, and realized something that is important for every lead generation funnel to be made!
True, they still need to decide that your lead magnet is of good enough quality to come back and purchase something (anything) from you. But, by giving away some of your best stuff, you've opened the door for a relationship built on a solid foundation of knowing you, liking you, and ultimately trusting you.
BOTTOM LINE:
Your high-value lead magnet is the first opportunity to launch the potential customer from knowing about you to liking you to trusting you enough to buy your product/services.
ONE FINAL THOUGHT:
Trust means more than trusting that you're not a scammer. Trust comes from knowing you are someone who knows something I need to know and that you can share that with me. Therefore, I trust you to give me some of what you have! You become known as one of the experts, making you someone customers can trust to deliver!
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