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The economics of giving your product (or service) away.
It’s a question I get similarly regularly, and it’s something I struggled with for years — but it’s the best marketing your time can buy.
It’s a question I get similarly regularly, and it’s something I struggled with for years — but it’s the best marketing your time can buy.
A while back we gave a proposal with a full marketing strategy outlined.
Based on the numbers we were talking, it would’ve been a huge account for us at the time.
Then the prospect told us thanks but he was going to hire someone cheaper to execute it.
Based on the numbers we were talking, it would’ve been a huge account for us at the time.
Then the prospect told us thanks but he was going to hire someone cheaper to execute it.
Plain and simple: it sucked. My wife was pregnant with our second kid at the time and not only would the cash flow have been great, but it would have been a portfolio builder as well.
The amount of time we spent building the strategy, holding his hand in meetings felt completely wasted.
But in truth he did us a favor — he would’ve been an awful client.
But in truth he did us a favor — he would’ve been an awful client.
He didn’t value us, and it would’ve always been a fight on cost every invoice. Would have been a drain on our resources.
But, by sharing the strategy he weeded himself out as not being our target audience.
But, by sharing the strategy he weeded himself out as not being our target audience.
By giving it away we built strong trust-based relationships with other prospects that have been with us for years, that have great businesses that we believe in.
So if you’re an electrician, don’t worry that telling someone how to replace their GFCI outlet. It’ll build trust and get you the jobs you actually want.
And if you want to pick my brain, DMs are open. Happy to share ideas.
