In this post, you’ll learn one of the fastest strategies to grow your online business!
We’ve talked about a lot of different side hustles and today I’m going to teach you about a strategy that can be applied to pretty much all of them called “free plus shipping”.
Before we get into the strategy, I need to back up a little bit and explain both why it is effective and how you can explore ideas on how to use it. If you want to build an amazing online business, the name of the game is acquiring customers and leads. You want to lure in those customers, get them interested in your product, and encourage them to purchase so that you can break even. I know — this is very contrary advice. You should not expect to make a profit on your first sale with a customer!
Take Spotify, for example. Their marketing is so on point with their data that when they run advertisements, they actually don’t expect to make a profit on the first time you subscribe. They are making their profit on the third month or after. If you like Spotify, you will continue to be subscribed, therefore Spotify’s customer lifetime value grows until they have a massive number of subscribers.
There is a famous phrase quoted by many successful marketers stating that “he or she that spends the most to acquire a customer wins in business. So, no matter what your side hustle is — selling physical items, selling digital products, selling yourself as a service — you’re goal is to get customers.
What is Free Plus Shipping?
Okay, Adrian… where does free plus shipping come into play? Free plus shipping is usually tied to a physical product. In order to sell this product to the customer, you make them an amazing, sexy offer where they only have to pay for shipping. You remove the price of the product and market it as “free” in order to attract the customer.
Say you are selling a book. You could either sell a physical copy of the book for $10.00 or offer the book as “free” and only require the customer to pay a $7.99 shipping cost. Obviously, the second option is a…