I've been devouring my new copy of Pink Spoon Marketing by my friends Andrea Lee and Tina Forsyth. This is good stuff, people. It will change the way you approach your business, particularly if you offer information products.
I'm always looking for real-world examples of the pink spoon, especially by businesses that don't offer information products...whether they are service-based (like myself) or have an actual physical product of some sort.
And today I found a FANTASTIC list of examples: Boost Your Business With The Most Compelling Offer Of Them All - Free by Jim Logan. He writes:
Making an offer to try before you buy is the most compelling offer a business can make. A trial, introductory period, no payments for 60 days, etc. – all are forms of a free offer. The less commitment the prospect makes, the stronger the offer. And the stronger the offer, the greater the rate of conversion.
Here are some of the examples Jim offers:
- A few consumer electronics companies are letting customers take big screen TVs home for a free 30 day trail, you don't pay a single cent until the 30 days are over. Delivery and pick-up, if you decide to return the TV, are free. Returns are almost non-existent.
- A mattress company is giving their premiere mattress away for 90 days before payment. You can return it at any time at no cost. Not many do.
- A lawn service business cut my grass and cleaned my yard free for one month, before we signed a contract for services. Every week they showed up on time, worked like dogs, and had the place looking and staying beautiful. I signed an agreement at the end of the free service.
And some of his tips on how to effective implement this:
- If you make a free offer and no one takes you up on it, you likely don’t have a compelling product or service.
- Free should mean free. Don’t offer a free sample and then insult everyone’s intelligence by asking for a refundable down payment.
- Prospects that take your offer of a free sample are customers. Don’t deliver half a product or service when you offer a free sample, deliver the whole thing. Include full support.
Thanks to Matt at the [non]billable hour for the pointer.
I've been spending so much time thinking about ways I can help my clients develop their own pink spoons that I've seemingly neglected to come up with my own. That is changing, soon enough. I promise.
And if this pink spoon stuff means nothing to you, start by reading Andrea's book Multiple Streams of Coaching Income. It's not just for coaches, and it will very likely reframe the way you approach your business. I'd love to make it mandatory reading for anyone who wants to work with me.
And speaking of Pink Spoon Marketing, isn't the book and CD combo image snazzy (yes, the one on the right)? I did that for them!
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