MBA1777 Why Low-Priced Products Are the Best Lead Generators + Free Ride Friday

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Hey O. Welcome to the $100 MBA Show. Because we're passionate about helping you build your business every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of Webinar Ninja, an independent software company I started with my partner back in 2014 and today's episode is Free Ride Friday. If you are new to the show, Free Ride Friday is when we give a lifetime membership to one of our programs. We're giving away Easy course over at easycourse co. It retails for $500. It's a step by step course on how to build your own online course in 30 days. If you want to win it for free, get a free ride. Just leave us an Apple Podcast rating and review and you enter our weekly random draw we call Free Ride Friday. Listen in on Friday to see if you want it's that easy. Thanks for showing us love on Apple Podcasts. In today's lesson you will learn why low priced products are the best lead generators. Having entry level priced products in your sales process can be the best way to get your ideal clients. It might even be more effective than free opt ins. Yes I am serious. Charging for people to join your list can be one of the best ways to to get the best customers you can ever find. In today's lesson, I'm gonna show you how. I'm gonna give you some examples of how you can implement this so you can actually make money so you can reinvest in your marketing. Let's get into it. Let's get down to business.

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There's a reason why a lot of big coaches, course creators and thought leaders write a book. Yes, it's a good way to get known and get on stages, but a book is a great entry level profit. They can offer their customers to grow their email list and get qualified buyers for their higher priced products. When you offer a lower priced product, you're actually saying who out there is willing to invest in what I have to offer? You're qualifying people that are willing to take out their wallets and pay for the information, pay for the service, pay for whatever your offer is. So even if that amount is not that much, it's like 20, 30, 40, $50. It's confirmation that somebody is ready to spend to get a result. These are the best leads that you can get. People that have already proven they are buyers and you can make this process easy by offering this top of funnel offering a low price product as your lead generator. So I mentioned running a book and offering that, but what are some other options? And by the way, you can self publish your own book, make it an ebook, make it an audiobook and offer that for a reasonable amount of money. Another great low price product that I've recently been doing as my lead generator is a three day challenge. I basically create a three day series webinar with webinar Ninja, my webinar software and I make it a paid series. I charge $37 and I attract some of the best customers I can ever find during the three day challenge. I give them incredible value. I get them results in three days for just $37. A no brainer for them. But of course during that challenge I am walking them through using my core product, the software Webinar Ninja and then I make an offer to them during that challenge which allows me to turn those low priced leads or low priced product buyers into mainstream customers. This is such an easy transition because I've already shown them I can get them results through the challenge. I've earned trust, I've earned rapport throughout three of the challenge and then I go ahead make them an offer. So it's a no brainer for them and those leads are gold. If you want to learn more about the process of this three day challenge, how to build one yourself and get more leads and clients, we've just published a blog post about it over@webinarnasia.com blog. It's more like a detailed guide than a blog post. What are some other options? If you're selling a physical product, let's say clothing, get them started with a low priced product accessory. If you're in software, you can even do low priced first months like your first month is $10. But the key here is that you want to put this front and center. This is going to be your new opt in on your website, on your blog and lower the risk. Give a money back guarantee. If you'd like to make sure that people understand that even if it's just a low price product, 10, 15, $20, there's no risk. If you are not happy with it, we will ref for you. It's a very low investment of time and effort in exchange for incredible leads. And of course you're making money. But the point here is though, many people create things like this and offer it for free and they may get leads, they might get people on their email list, but the quality of these leads are not as good as buyers. So the next time you think about hey, I'm gonna create a five part video course on this topic and give it out for free as a lead magnet, why not charge for it? Make it a very reasonable price, make it $9, people will value it more, people will actually consume it because they paid for it. They got skin in the game and they'll be interested in knowing what the next step is with you in their buying journey. By the way, a lot of different industries use this technique. Whether it's the airline industry where they have low fares at special times for economy seats where you grab a great deal and then if you love it then you'll continue to fly with them and then maybe next time you'll upgrade to premium economy. Then business or luxury brands like Mercedes start offering lower priced vehicles to get people to fall in love with a Mercedes brand. When I grew up you could not buy a Mercedes as your first car. Many people are buying a Mercedes reverse car now because they're competing in the same price point as Toyotas and Hondas. Now the point here is that when you're getting somebody to buy your entry level product, they are primed to buy your next product and your next product and your next product. One of the best examples I can give you is Apple. My first Apple product was an ipod. I wanted to listen to music when I was in the gym. This is early 2000s. I bought myself an ipod and I absolutely loved the experience. Apple solved this problem for me. It was a low price product in terms of electronics so it wasn't a huge risk for me to go ahead and buy it versus like buying a desktop computer. But when I did need a new computer, I considered Apple because I loved the ipod so much and I went ahead and bought myself a MacBook. You guessed it, when I needed a new phone, I got the new iPhone when it came out because I thought, hey, I love my MacBook, I love my ipod, I'm pretty sure the iPhone's going to be just as good, and so on and so forth. You can create that same ecosystem in your own business, whether you're selling products or services or coaching or consulting. Get people in your buyer's journey with some entry level products and get quality leads.

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To wrap up today's lesson, I want to encourage you this weekend to create a short and sweet paid entry level product. One of the easiest ones is a three day challenge. A live three day course, each session being one hour. Prepare your presentation, jump on live, help out a whole bunch of people, earn money and move them on to your next product offering. Again, if you want a step by step guide on how to do that this weekend, just go to webinarninja.com blog uh, you can actually pull this off for free by just joining our free trial. I also wanna mention that today we also have a bonus episode in the feed we wanna share with you. A podcast called the Side Hustle show by Nick Loper, a very popular business podcast. If you're looking to learn how to build your entrepreneurship skills and build your business on the side in this episode you can just find it in the feed. You'll learn all about how Nick built, grew and sold a $550,000 business. He walks you through the whole process that wraps up today's lesson. But today's episode is not over. It's Free Ride Friday. Let's see who won this week's Free ride. And the winner is large it from Great Britain large. It says easy to action and gets you thinking. 5 stars. I listen to this podcast when I go for a run and always come back with ideas to explore and actions to take which all help my business run smoother. Thanks Omar. Well thanks Lardat for that great review. Your mission is to email me over at Omar MBA Net so I can hook you up with the free ride to EasyCourse Co, our 30 day course on how to build your own online course. Go ahead and email me if you want to win a free ride. Just leave us an Apple podcast rating and review and you enter our weekly random draw. Listen in on Friday. If we read your review, you've won. That simple and you enter the draw every single week until you win. As long as you left us a review. Before I go, I want to leave you with this. Be careful of the word free. If everything we offer is free except one thing which eventually is our product, we kind of train our audience that you don't need to buy anything, okay? But if you stair step it with some entry level products they can take that first step and say okay, this is something paid, it's not that expensive. Let me give it a try and see if I get an roi. You have great stuff to offer. Charge what you're worth and get people in your buying cycle. Thanks so much for listening and I'll check you in Monday's episode. I'll see you then. Take care.

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