Create an Irresistible Free Offer
Your Irresistible Free Offer (IFO) is how you can capture the contact information of prospects who visit your pet sitting business website.
Author’s Note: This post was originally published in 2014. I’m republishing it now with a new video and updated with all my current experience and tips!
Think of the Baskin-Robbins’ iconic pink spoon. This is their IFO, which gives their customers a free taste of ice cream, so they can decide which flavor they want to buy. Ingenious!
When somebody visits your site, they should see your offer and say, “Oh that’s really enticing, I’m going to give them my email address for that.” And then you email them the irresistible free goodie that you promised.
Why do I call it irresistible? Because it needs to be just that. A free walk or a free meet-and-greet is just not going to cut it anymore.
People don’t want to share their email addresses. Their inboxes are flooded already and they are only going to give you their email address if it’s really something juicy.
Your IFO should give your ideal customer something of value. It also needs to be tempting enough for them to part with their email address.
Your IFO should be displayed on each and every page of your website, along with an opt-in box, where your prospects will give you their first name and/or email address in return for what you’re offering.
What to Offer
My first tip is that I have had the best luck with high-value coupons. I’ve tried PDFs, I’ve tried giveaways, I have tried everything under the sun. What I can tell you is that a high-value coupon with a whole number (rather than a percentage off) has given me the best conversions.
Currently, Pet Nanny is using a high-value coupon. The offer is shown on each and every page of my website.
The Nurture Sequence
After your prospect gives you their contact information in return for your free offer, they become a “warm prospect.” You should have a well-thought-out, automated follow-up process called a “Nurture Sequence, which gives these prospects added value and makes your pet sitting company the only logical choice to hire.
Throughout the sequence, you are going to let them know all about you and your business, and continue to provide value. For instance, I offer my list an Ultimate Guide for Mainline Pet Owners, which has all things pets for people that own pets on the mainline. Things like pet-friendly hotels, walking trails, the best vets, the best pet stores.
The Ultimate Guide is also a great place to feature my referral partners. I add the businesses that refer me to the guide that I give to my prospects.
Then, when they receive their final email you’ll say, “Hey, remember that coupon you opted in for seven days ago? It’s time to take action. Click below to get started.”The ultimate goal of a nurture sequence is to convert visitors into paying clients at the end. Click To Tweet
This is your strategy. When someone hits your website, they see the enticing high-value coupon, they give you your email, you put them in your email nurture sequence and tell them all about you and your amazing pet sitting business.
Continue to give them value and at the end of the nurture sequence, they’ll be saying, “Yes this is the pet sitting company that I want to work with.” That’s the strategy behind it.
Lifetime Customer Value
Now some of you are thinking “why on earth would I give away the farm? And why would I give so much money off a new customer? What if they don’t use me again?”
These are great questions and valid concerns. I totally get it. But when you identify the lifetime value of your customer, you’re going to understand that offering something like $25 off on the front end is going to be well worth it.
To calculate the lifetime value of your customer, look up the total amount of revenue that your business has made thus far and then divide it by the total number of revenue-generating clients. That will give you a number. This is your average lifetime value of each customer, and how much a customer is going to spend with your company.
I have had customers that have spent $50,000 with my company, and I have had customers that have spent $200 with my company. So what we’re looking for is the average.
So you might think, “Oh my gosh, if someone’s going to spend $2,000, $4,000, $5,000, whatever with your company, do you think it’s worth it giving them $25 off the front end?” I’d say so.
I think it’s a really good strategy and definitely well worth it. But you know, your client lifetime value may be lower. You might not have as many lifetime clients or as much lifetime revenue as I do.
So figure out what your actual client lifetime revenue is and determine what amount is worth it for you. You want to identify what is enticing and juicy enough to get the ball rolling and get them in the front door with your company.
So to recap, your irresistible free offer is something juicy, something compelling, something that’s going to make your visitors take action and give you their email address.
Then, you drop them into a nurture email sequence where you educate them about your company.
Your homework is to calculate your average lifetime customer value (calculate the amount of money your business has made divided by the number of lifetime generating customers) and identify a high-value coupon amount to offer.
All right guys, I hope you found this helpful, go think of an awesome offer and put this strategy into action in your business right now.
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Wishing you a great day!