34: Why You Actually Need a Low-Cost Offer (It’s Not What You Think)

Summary

In this episode, Stacy Covitz discusses the importance of low-cost digital products in business, debunking the myth that they lead to easy wealth. She emphasizes the need for an engaged email list and how low-ticket offers can transform freebie seekers into actual buyers, ultimately enhancing business growth and customer engagement.


Takeaways

• You need a low-cost digital product in your business.
• The myth of getting rich from low-cost offers is misleading.
• Building an email list is crucial for marketing.
• Many people on your list may not engage or purchase.
• Low-ticket offers can help create a list of buyers.
• Buyers are more likely to engage with your products.
• Feedback from buyers helps improve your offerings.
• Engaged customers lead to better business outcomes.

Chapters

00:00 Introduction to Low-Cost Digital Products
01:25 Debunking the Myth of Easy Wealth
02:06 The Importance of Building an Engaged Email List
04:37 Transforming Freebie Seekers into Buyers
06:44 Conclusion 

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Transcript

Stacy Covitz (00:00)
Hey, welcome back to MetaAds Quick Tips. I'm Stacy, your friendly neighborhood ad strategist, and I'm here to help you run smarter ads and avoid throwing away money with tactics that just don't work.

Today I want to talk about why you need a low cost digital product in your business and it's not what you think. In episode 19, I talked about

I'm going to create this low cost offer and I'm going to get rich. I'm going to retire on the beach and it's all because of this $27 product. I'm going to run ads to it and that's going to help sell it out.

And because, mean, obviously, because the product is only $27, everyone's going to buy it, right? So I only need to spend like a hundred bucks to get my product in front of all the people. Okay. So that's the myth. Now I'm going to talk about the truth of low, low cost digital product and how it's a good thing in your business.

you've heard it a thousand times. Build your list, build your list. And I say this too, because yes, you need to have an email list

So you create your lead magnet. It's great. You put so much work and energy and everything you had into it. People signed up. Lots of people. Woohoo. Super exciting. And then you send out your email and you realize, Holy cow, these people aren't even getting their lead magnet because they're not even opening my email.

So it's like you created your guest list, you sent out all the invitations, made the playlist, decorated the house, got everything ready, and then all of your guests ghosted the party and no one came.

So let's say you've also created a course, something bigger, something that you know is fantastic and you know it could help people. And you poured your heart into that. You fine tuned everything. You rewrote the sales page too many times and still crickets. And then you start questioning yourself. Is it me? Is it my sales page? Is it my product?

Do I need better copy? And yes, maybe all of that, some of that is true. But let's look at what's really happening. Let's say going back to your lead magnet, 100 people signed up, opted in to get your lead magnet. But then only 30 people actually opened up your email.

And then out of those 30 people, only let's say only half of them actually clicked to get it. So now we're looking at 15 people then maybe one person, if you're lucky, will open it up, save it and look at it. So what does that mean? That means you have built a list.

of freebie seekers, looky-loos, digital hoarders, I'm guilty of that, tire kickers, whatever you want to call it. And it's not to say we're not insulting these people because everyone loves a good freebie. But don't be upset or sad. It's okay that you have these people on your email list.

But if you have something that you want to sell, ⁓ it's a much better business strategy to build up your list with people that have actually already bought from you. And that's where this low ticket offer can change the game. Not because you're going to get rich.

You're not going to get rich, not because it's going to be easy or barely cost any money in ads. But if someone pays you to actually buy or purchase your product, chances are they really want it. They really need it. They trust you and they're going to download it because they paid for it. So now your list actually has

buyers and it gets you in the game. You start getting reviews, you get feedback, it helps you test your messaging and it sets you up for bigger sales down the road.

So to wrap up, if you've been stuck with your email strategy that is just filling your list with people that don't ever open it or engage or purchase from you, maybe it's time to consider a low ticket product or if you already have a low ticket product, let's let's figure out a new strategy to get that into a lot of people's

emails and start having a list filled with buyers. I hope that was helpful

And remember, you can always book a 15 minute discovery call with me if you want to chat about your business, your products, your ads.

The link is in the show notes. I thank you so much for listening and I'll see you next time.