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Sometimes, though, people want to know more about your offer before they buy. This is common for businesses that sell more expensive stuff. If that’s you, then you’ll often get more leads to engage by advertising with a lead magnet first.
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Alex Hormozi ($100M Leads: How to Get Strangers To Want To Buy Your Stuff (Acquisition.com $100M Series))
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How do I know if they’re interested?” → Make them an offer.
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Alex Hormozi ($100M Leads: How to Get Strangers To Want To Buy Your Stuff (Acquisition.com $100M Series))
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Reward for paying in full rather than punish for paying over time Offer 3rd-party financing, credit card, layaway options Offer half now, half later Check to see if they still want the thing Offer to split into three payments Offer evenly spread payments Offer a Free Trial
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Alex Hormozi ($100M Money Models: How To Make Money)
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Instead, I say “It’s $15…but it’s $10 if you prepay it. You save $5…that’s what most people do.” To do this, I present the price with interest included. Then, I offer prepayment as a way to get a discount. This way, we make the offer friendlier and benefit from a price anchor. Same math, but feels better.
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Alex Hormozi ($100M Money Models: How To Make Money)
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We start by picking a problem that’s narrow and meaningful. Then, solve it. And, like we just learned, when we solve one problem, a new problem reveals itself. Here comes the important part- if we can solve that new problem with our core offer, we’ve got a winner. This is because we solve this new problem in exchange for money. That’s it. Don’t overthink it.
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Alex Hormozi ($100M Leads: How to Get Strangers To Want To Buy Your Stuff (Acquisition.com $100M Series))
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Okay everyone. So here’s the ad account of a gym we just launched. Here are the ads we ran. This is how much we spent. We sent them to this page with this offer. You can see how many leads we got here. They got this many people scheduled. This many showed. This is how many they sold. This is how much the gym owner made. This is everything we did. If you want help setting something like this up, we’ll do the whole thing for free. And we only get paid off the sales you make. If that sounds fair, book a call.
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Alex Hormozi ($100M Leads: How to Get Strangers To Want To Buy Your Stuff (Acquisition.com $100M Series))
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Waived Fee Offers work like this. First, you ask the customer to pay a startup fee as part of joining a month-to-month program. Typically, I do 3–5x my monthly rate. Then, you offer to discount the entire fee if they commit longer term. But, if they cancel inside the term, they pay the fee. Customers can choose to pay a significant fee and keep the option to quit at any time, or they can commit to 12 months and get the fee waived. Many will commit to avoid the big fee. We take a greater risk if they pay month-to-month. But they take a greater risk if they commit. If a customer chooses month-to-month, we lower our risk with the startup fee. But, we lower their risk year-to-year by waiving those fees. And if they commit and want to quit early, then OK. They pay as if they had chosen “month-to-month” from the beginning. Simple. Bottom Line: Customers will stay longer if leaving costs more than staying.
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Alex Hormozi ($100M Money Models: How To Make Money)
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My offer was simple. I’ll fill your gym in 30 days for free. You pay nothing. I pay for everything. I sell new members and keep the first 6 weeks of membership fees as payment. You get everything else. If I don’t fill your gym, I don’t make money. You spend nothing either way.
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Alex Hormozi ($100M Leads: How to Get Strangers To Want To Buy Your Stuff (Acquisition.com $100M Series))
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It was an easy offer to sell. I’d fly out. Turn on my lead machine. Work the leads. Then sell the leads. Except, instead of selling them into my gym, I’d sell them into whatever gym I was camped at for the month. Every month I’d go to a new gym. Rinse and repeat. It worked.
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Alex Hormozi ($100M Leads: How to Get Strangers To Want To Buy Your Stuff (Acquisition.com $100M Series))
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If in one area you see a pyre being lit, a little away you’ll see an infant undergoing a ritualistic tonsuring. Barely 100m away a newly married couple will be offering prayers to the river, while further away you’ll find children playing cricket on the banks of the river close to an elderly man who is deep in thought silently watching the Ganga flow by. Nearby, people will be feeding the fish, while some distance away little girls in brightly coloured skirts and tops play hopscotch on the steps leading to the river. In essence, the cycle of life is quite literally unfolding before your eyes," Irfan Nabi
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Irfan Nabi (Banaras: Of Gods, Humans and Stories)
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Example: You give away free finance courses, guides, calculators, templates, etc. They are so valuable people really can do it all themselves. But, they also reveal the time, effort, and sacrifice of doing it all. So you offer financial services to solve all that.
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Alex Hormozi ($100M Leads: How to Get Strangers To Want To Buy Your Stuff (Acquisition.com $100M Series))
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Around 100m seems to be the ideal distance for the base phase because it is short enough to prevent significant lactate production, thereby minimizing its impact on your other workouts. Some suggest 200m strides as well, but I prefer the 100m distance due to its lower lactate accumulation and fatigue. The 100m strides offer the benefits of running at a fast speed without causing excessive fatigue.
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Pantelis Tsoumanis (20 × 3 Healthy Running: Maximize Your Endurance and Stay Injury Free with Just 3 Runs per Week)
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Usain Bolt (The Fastest Men on Earth: The Inside Stories of the Olympic Men's 100m Champions)
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Attraction Offers generate leads and convert them into customers. They turn advertising into money by offering something free or at a discount. We do this because everyone wants a great deal. In a great deal, customers get far more value than the price they pay. Strangers can only take your word on the value. But, they absolutely understand the price. For that reason, discounts make anything a great deal to just about anyone. And, the greater the discount, the better the deal. The greatest discount of all being free.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Summary If you present a more expensive offer before a less expensive offer, more people will buy the less expensive offer than they would have if you had presented the less expensive offer on its own. Present anchor. Get gasp. Come to the rescue. Present core offer. Ask for payment. For the most effective anchor, make your premium offer 5–10x more expensive. Anchored customers spend a bit more than they plan to. Don’t treat the anchor like a fake, or the customer will too. You lose trust and waste time. Important: Some customers will buy the premium offer. Expensive premium offers add outsized profits with fewer sales. The main offer and the premium offer should have the same primary features. The premium offer has different secondary—aka ‘premium’—features. After anchoring, offering the primary features for a fifth of the price makes the main offer a great deal. It gives them ‘basically the same thing’ for way less.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Use Rollover Offers To Attract New Customers. For example, you roll over some or all of what customers paid somebody else towards your thing. You can find leads for this by scraping contact information from negative product reviews where available. Voila—a hot new list of leads who need what you have. Bonus: Create a way for people to complain about products in your industry (think any media where people can leave comments). Then, Rollover Upsell all of them. Nasty.
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Alex Hormozi ($100M Money Models: How To Make Money)
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For instance, if you remove stuff they hate, and lower the price a lot, they get a better deal. If you remove stuff they love, and lower the price a little, they get a worse deal. Both get people to buy. In the story, customers loved the guarantee. The guarantee had far more value than its price. So even if they said no at first, removing the guarantee instantly showed its value. The customers saw the higher-price offer as a better deal. So, after seeing the downsell option, they bought the first offer.
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Alex Hormozi ($100M Money Models: How To Make Money)
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When Making Your Continuity Offer, Anchor The Bonuses. First, sell them the benefits of the amazing bonus. Not your Continuity Offer—the bonus. Then, use your high-value bonus as an anchor. It may shock them—and that’s okay. Because then you ask, “Do you want to know how you can get this for free?” If they do, which they will, explain how: “Become a VIP member today and you’ll get it all as a free gift for joining. Or, you can just buy it for $XXX—which would you prefer?
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Alex Hormozi ($100M Money Models: How To Make Money)
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Get Them To “Say No To Say Yes.” I was always amazed at how often the fur coat dealer got people to buy stuff by saying “no.” He knew people had been trained to say “no” in response to “you don’t want anything else do you?” But this actually turns a “no” into “yes.” So when upselling, the question translates to: You don’t want anything [besides what I just offered] do you? Clever salesmanship. So let the nos (yeses) roll in.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Sell More When They’re Buying More—Hyper Buying Cycle. Most buyers enter a “hyper buying” cycle when they decide to do something new. It’s a short window of time when they are the most excited about a new thing they’re gonna do. This is when they spend a huge chunk of money in a short period of time. Think weddings, starting new hobbies, having babies, moving to new places, and so on. If you have a business that caters to these sorts of problems, don’t shy away from Upsell Offers. Embrace it...and keep making offers.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Summary Points Rollover Upsells credit some or all of a customer’s previous purchases toward your next offer. To do Rollover Upsells, figure out who to upsell, what to upsell, and how to roll credit over. Who to upsell: old customers, upset customers, other people’s upset customers, current customers. What to upsell: more of something, something better, something new or different. Just make sure you make a profit after applying the credit. How to roll credit over: Full or partial purchase price. Given up front or spread out. Price your next offer at least 4x higher than the credit. This makes a 25% discount. To get more takers, add urgency. Make your Rollover Upsell a one-time only offer. FREE GIFT: Rollover Upsell Training
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Alex Hormozi ($100M Money Models: How To Make Money)
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My “Famous” Gift Card Play. You can use the Rollover Upsell as an Attraction Offer for new and current customers by advertising gift cards for 90%+ off. Ex: $200 Gift Cards for $20. Limit them to two per customer and say they can only use them on other people. They buy them as gifts and give them to their friends. This makes it a great holiday offer. When customers buy the gift card, ask them who they want to make it out to and if they’ll make an introduction. Then, when they come in, roll their gift card over. Make the value of the gift card 20% of the price of whatever you want to sell next. In our example, we sell a $200 gift card for $20. Then, apply that $200 value to an offer with at least a $1,000 price tag. People pay you to refer their friends. It’s pretty great. Plus, you get some pocket change from unused gift cards.
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Alex Hormozi ($100M Money Models: How To Make Money)
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How You Apply Store Credit [IMPORTANT]. When customers win their money back, offer to apply it over a longer period or to a bulk package. Just offer to apply it to something that costs more than their winnings. In my experience, this keeps customers engaged and makes you more money. Here’s what that looks like: You have a product or service that costs $200 dollars per month. A customer wins $600 of credit. Avoid giving them three free months up front.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Gym Offer (Local Business) Attraction Offer: “Free 21-Day Transformation” OR “$21 21-Day Transformation.” Decoy Option: Workouts done in a Skool.com group once a day. A general nutrition plan. Can watch recordings. No support. No guarantee. Premium Option: Unlimited workouts, a personalized nutrition plan, 1–1 accountability, results guaranteed (or you get another 21 days free).
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Alex Hormozi ($100M Money Models: How To Make Money)
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Surprise Benefit (Optional). To take this a step further, if someone takes the decoy option, you can choose to surprise them with a few low-/zero-cost features from your premium offer. Just say something like “hey, I’m gonna throw this in, even though it’s part of our premium offer just because I want you to get great results.” This builds goodwill, over delivers, and increases the chance they take your upsells later. Remember—they’re still leads! Summary Points Decoy Offers advertise something free or discounted. Then, when leads ask to learn more, you also present a more valuable premium offer. Make the premium option far more valuable than the decoy option by adding more features, benefits, bonuses, and guarantees. Strip down your Decoy Offer as much as reasonable. When leads ask about your Decoy Offer, present your premium offer right next to it. Ask “are you here for free stuff or lasting results?” for permission to offer the premium thing first. You can still make money from leads who pick the decoy option. You’ll learn the best way to deliver your decoy product and maximize upsells from it. Expect to make money fast. If you’re not, then make the contrast between offers larger.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Decoy Offers advertise something free or discounted. Then, when leads ask to learn more, you also present a more valuable premium offer. The premium offer provides more features, benefits, bonuses, guarantees, and so on. By putting your decoy offers and premium offers side-by-side, leads can see how much more valuable your premium offer is. I like Decoy Offers because they get more customers overall. They either take the decoy version or the premium version. If they take the premium, great. If they take the decoy, also great. It gives you time to upgrade them rather than losing them. But either way, you can close everyone. This makes it cheap and profitable to get new customers. And any business can use it.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Get Them To Give You Permission To Sell Them. If they ask to hear about your decoy, you are legally required to present it, or you prefer to present it first, here’s how I like to do it: Ask them a simple question: “Are you here for free stuff or lasting results?” And as soon as they say “results,” which most people do, skip to your premium offer. If they say “free stuff,” present the decoy offer then immediately contrast it with your premium offer. Then only after presenting both, ask them “which do you think will get you to your goal faster?” or “which would you prefer: XXX less valuable benefit or YYY more valuable benefit 1, 2, 3…?” At this point, they’ll have to say the premium offer. Then you can move forward in the sale mutually agreeing it’s the best thing for them.
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Alex Hormozi ($100M Money Models: How To Make Money)
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A Win Your Money Back Offer works like this. You set a goal for the customer and tell them how to reach it. If they reach it, then they qualify to get their money back or get it back as store credit.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Description Giveaway Offers advertise a chance to win a big prize in exchange for contact information and whatever else you want. Then, after picking a winner, you offer everyone else the big prize at a discounted price. Giveaways also go by names like “scholarship” and “sweepstakes” and “raffles” etc. They all mean “enter for a chance to win.” To run a Giveaway Offer you: Pick a Grand Prize. Pick your promotional offer. Ask for contact information and other eligibility criteria.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Have Downsells Available. Some won’t or can’t buy your promotional offer, even with the discount or bonus. And that’s okay. Here’s how I approach it: at the start of the call, let them know they qualified for two prizes. And that you’ll help them find which way makes the most sense for them. Then, present your promotional offer first—aka, the discount on the Grand Prize thing. If they take it, great. If not, then offer the same discount by percentage on any other product you have that makes sense for them.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Book appointments with everyone else to claim your promotional offer. Use whatever “reason why” feels good to you. Putting an expiration date on people claiming their prize makes them more likely to claim it. If somebody says no to your core offer, have another product or service to discount. It may suit the lead better.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Summary Points At their core, Giveaways ask an audience to apply to get a high-value thing of yours for free. Many will enter—one wins. The rest qualify for discounts on your core offer. Pick a Grand Prize people want. Give two prizes away if you want more people to refer. Tell them if someone they refer wins, they win the other prize. Offer a chance to win the Grand Prize to anyone who enters and qualifies. You can get great information from every lead because you can make it part of the entry process. Get information that indicates how your offer will provide them value. This becomes important for making offers later. Advertise your Giveaway for seven days, or until the number of leads surpasses the number of people you can manage to call in seven days, whichever comes first.
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Alex Hormozi ($100M Money Models: How To Make Money)
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If You Run Events/Workshops/Presentations, Hint At Your Next Offer Early.
If the reading guru had said “Everyone wants to know when my next reading intensive starts because they sell out so fast. I’ll get to it at the end. But please pay attention. I want to deliver on the promise I made to you guys to double your reading speed first.” By hinting about his next offer earlier, he would’ve sold more of it. Let me explain:
I used to do a lot of nutrition consultations. People would interrupt me all the time to ask about supplements. It annoyed me. So one tired day I spouted “everyone wants to know what supplements to buy. We’ll get there—I promise. But please pay attention to the nutrition section—it matters more.” By accident, I implied everyone bought supplements without offering them. And all the head nods I got showed they actually did want more products. All these factors got more people to buy when they finally got to ask. A happy mistake I made sure to repeat.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Instead apply the $600 over 12 months → ($600/12 months = $50/mo discount). They now pay: $200 per month—$50 discount = $150 per month To be clear, they can use credit however they want. But, I recommend you present this first. If they ask to use it up front, you can share my experience—people fall off if they don’t pay something. A discount over the long haul keeps them engaged over the long haul. So it’s in the customer’s best interest to keep some skin in the game. In-depth details on this Upsell Offer are in the Rollover Upsell chapter (Section III).
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Alex Hormozi ($100M Money Models: How To Make Money)
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All Meetings And Calls Provide Opportunities To Make More Offers. Make check-in meetings part of your money-back criteria whenever you can. And make all meetings required to win their money back. Beyond helping them succeed, they are the best opportunities to make upsell offers. So after you’ve checked in, offer what makes sense based on their feedback. The Win Your Money Back Offer and my gyms had three appointments:
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Alex Hormozi ($100M Money Models: How To Make Money)
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Make Everyone A Winner. Promote and sell the program as though they will only get it back if they meet the criteria. But, about halfway through, make your next offer as if they already won. You lower the customer’s anxiety about failing and you’ll keep them longer. They’ll also love you that much more. Something like: I know you’re trying to hit this short-term goal, but what’s your long-term goal?...okay that’s great to hear. You get that it’s not about this program but about your long-term results. Tell ya what, to show you how much I want you to hit that long-term goal, I’ll credit this program toward the next one whether you hit the short-term goal or not—how’s that sound?” At The End Of The Program, Let The “Losers” Win. If someone refuses your first upsell and fails the challenge, you can still upsell them again. Here’s how: act like they won. I say something like: “Don’t worry about it. You started. That’s the biggest victory of all. And even though you didn’t hit your short-term goal, you met ours—which was finishing what you started. To show you that we’re in this for the long haul, we’ll credit your entire deposit towards staying with us long term. That way you get your money back and we can still hit your goal. How does that sound?” You’ll turn that frown upside down and they’ll love you for it. Remember—we don’t get customers to make a sale, we make sales to get customers.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Buy X Get Y Free Gets People To Buy More Stuff And Provides More Value. It used to take a whole year for some of my service businesses to make their money. But the “Buy 6 Months Get 6 Months Free” offer attracted far more customers than the original month-to-month offer. Even better, they got paid up front for it! Raise Prices Before Giving Stuff Away To Preserve Profits. If you use this to attract customers, it will work. And since it will work, you need to make money. So, permanently raise prices to accommodate the discount. Don’t lie. Actually raise your prices. Since this is what all new customers will be coming in on, then it makes sense to change it, for a season at least. Plus, plenty of people might still take your doubled prices a la carte and break your limiting beliefs around pricing. You’re welcome. Buy X Get Y Free Works Better If You Have More Free Stuff Than Paid Stuff.
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Alex Hormozi ($100M Money Models: How To Make Money)
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Summary Points In Buy X Get Y Free Offers, when customers buy something, they get other stuff free. Buy X Get Y Free works for stuff that makes sense to buy more of or get longer access to. Basic Buy X Get Y Free offers reframe pricing. Buy 1 Get 2 Free costs the same as buying 3…except customers see the free offer as more valuable. (18 Months of Service example) Always try to give more free things than paid things. You can pair different free things with your paid things. Some Buy X Get Y Free offers discount the price—where buying more things costs less per thing than buying the same number of things one at a time. Buy X Get Y Free can lengthen the amount of time customers stay. If normal customers stay for three months, then ‘Buy 2 Get 2 Free’ will keep them for four months (or whatever you set it at). This gives you more opportunities to make more offers and provide more value. If you use Buy X Get Y Free to generate a lot of cash fast, make sure you manage it well and deliver on your promises. If you need fast cash, you can make this offer to existing recurring customers. Just cap how many you sell so you still have cash flow. Keep selling customers who prepay long durations, they are the most likely customers to buy again!
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Alex Hormozi ($100M Money Models: How To Make Money)
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For example, I could sell three t-shirts for $10 each for a total of $30 or I could sell one t-shirt for $30 and give two away free. It’s the same price, but way more free stuff! And if I wanted to offer a discount (rather than only reframe the price) I could do this. I could sell three t-shirts for $6.67 each for a total of $20 (33% discount) or keeping the same discount, I could sell one t-shirt for $20 and give two away free. It’s the same price, but way more free stuff again!
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Alex Hormozi ($100M Money Models: How To Make Money)
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Buy 1 Get 2 Free Physical Products Offer: (The Boot Factory Offer) One Pair of Boots: $200 Buy X Get Y Free Offer: Buy One Pair For $600, Get Two Pairs for Free End Result: They still buy three pairs of $200 boots for a total of $600 3 Versions: 18 Months Of Services AKA “3 Pairs Of Boots” Good: “Buy 12 Months Get 6 Months Free” - $1,800 Better: “Buy 9 Months Get 9 Months Free” - $1,800 Best: “Buy 6 Months Get 12 Months Free” - $1,800
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Alex Hormozi ($100M Money Models: How To Make Money)
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We Buy Houses Cash
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This is important because leads interested in lower-cost or free offers now are more likely to buy a related higher-cost offer later. Think of it like salty pretzels at a bar. If somebody eats the pretzels, they’ll get thirsty and order a drink. The salty pretzels solve the narrow problem of hunger. They also reveal a thirst problem solved by a drink, which they can get, in exchange for money. The pretzels have a cost, but when done right, the drink revenue covers the cost of the pretzels and nets a profit.
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Alex Hormozi ($100M Leads: How to Get Strangers To Want To Buy Your Stuff (Acquisition.com $100M Series))