Baiting refers to the best way to attract potential customers into your sales funnel, using an offer that is irresistible and causes visitors to take immediate action. In the context of marketing, "bait" is an initial offer that captures the customer's attention, similar to how a fisherman uses a bait to attract fish.
Russell Brunson refers to "the best bait" as the best free or low-cost offer you can give your audience to lure them into your sales funnel. This offer should be extremely attractive and of high perceived value, incentivizing potential customers to take the first step and provide their contact information or make an initial purchase.
Key Elements of "Best Bait" According to Russell Brunson
- High Perceived ValueThe offer must seem extremely valuable to the potential customer, even if its cost to you is low.
- RelevanceThe offer should be closely related to the main product or service you offer, ensuring that it attracts the right people.
- Ease of ConversionIt should be easy for the potential customer to accept the offer. This could involve a free product plus the cost of shipping, a significant discount, or an exclusive resource such as an ebook, online course, or webinar.
- Buyer QualificationIdeally, the offer should require an action that qualifies the customer as someone willing to spend money, such as paying for free shipping.
- Emotional AttachmentThe offer must be exciting, interesting and solve a specific problem for the potential customer.
The Hundred Visitors Test
Introduction to Free Shipping Offer Strategy
In his book Predictably IrrationalDan Ariely examines how the word "FREE" affects buying behavior. This concept is essential to understanding the free shipping offer strategy Russell Brunson uses in his sales funnels. Brunson found that about 25% of customers who purchased his product with free shipping also purchased the upsell offer. This is an example of how starting with a small offer can lead to larger sales down the road.
The Power of the Physical and the Gratuitous
Brunson prefers to offer a free physical product rather than a digital one, as this allows him to use the word "free" and, at the same time, qualify the customer as a buyer by requiring them to pay shipping costs. This approach has multiple benefits:
- Customer AttractionThe word "free" has a significant power of attraction.
- Buyer Qualification: Requiring payment for shipping allows you to qualify the customer as a potential buyer.
- Additional Sales Opportunity: Offer a one-click upsell after the customer pays for shipping.
Implementation of the Free Shipping Offer plus an "Order Bump" (last minute offer).
On the order form, after the customer enters their payment information, an option can be added for them to add a higher value product to their order. This small adjustment resulted in about 34% of customers adding the higher value product. Thus, the free shipping strategy, coupled with the order form augmentation offer (BUMP), allowed Brunson to attract three times as many customers and maintain front-end revenue similar to its competitors.
Order Bump features:
- Strategic locationThe order bump is placed just before the customer completes his purchase, on the payment or checkout page.
- Attractive offerIt is usually a complementary offer to the main product that the customer is buying, generally at a reduced price.
- Ease of acceptance: Normally, the customer only needs to check one box to add the additional product to his order, which makes the process very simple.
- Increase in cart valueBy offering an additional low-cost product at the last minute, companies can significantly increase the average order value without the need for a full upsell.
Example of Order Bump:
If a customer is purchasing an online course, an order bump could be an offer for an ebook related to the course for a reduced price. The customer simply checks a box to add the ebook to their purchase.
This technique is effective because it takes advantage of the moment when the customer has already made the decision to buy and is in a positive frame of mind towards the purchase, which makes them more likely to accept the additional offer.
How does it work if you are a...?
Author, Trainer or Consultant
Think of the most amazing results you could get for your clients, something that really solves their biggest problem, and put that information into a book. This book can be your free offer, attracting potential clients and qualifying them as interested in your services.
E-Commerce Business
If you're selling something like bird cages, you could give away a MasterClass titled "How to Teach Your Parrot to Talk." If you're selling custom suits, you could offer free cufflinks with the first order. These offers are engaging and relevant, capturing your audience's attention and driving them through your sales funnel.
Network Marketer
For this niche, you could create a free webinar that showcases your secret method for finding leads or converting them into successful distributors. This approach will not only attract new prospects, but also qualify them as interested in your business.
Affiliated Vendor
Create free informational tutorials to build your own mailing list and then sell other people's offers on the backend. You could also interview an industry expert and offer that interview as your free mailing product, adding value and credibility to your offer.
Physical Business Owner (Offline)
Think about the problems your business helps solve and find a unique solution for them. For example, if you have a hardware store, you could record a video explaining how to perform common repairs and offer it on a branded USB as a free shipping offer. Alternatively, find a physical product that you can offer for free with shipping, something that will attract consumers and lead them to your Value Ladder.
The Secret of Cold Traffic
The secret to converting cold traffic is to harness the power of free. Whatever you offer in your free shipping offer, it must not be boring or common knowledge. It must be unique, engaging and valuable. The more unique and engaging, the better.
Using free shipping offers is the fastest way to qualify your buyers and get people on your value ladder. Remember, if someone isn't willing to pull out a credit card and pay a few dollars for shipping your product, then they probably won't buy your other products either.
To be continued...
