For the past several weeks we’ve been talking about growing your email list for your business: both how to grow it and how not to. One of the best ways to get people to opt into your email list is with a Freebie or an SLO–but how do you know which one is right for you? 

First–let’s start with some quick definitions so we’re all on the same page.

A Freebie, also known as a lead magnet or an opt-in, is a free offer that you create to get people to join your email list. A freebie might be a PDF download, a mini-course, an e-book, etc. They are a free introduction to your work that is hopefully the first step to building Know-Love-and-Trust with you and becoming a future customer or client.

SLO (I pronounce it S-L-O, but I’ve heard a few people say “slow”) stands for Self-Liquidating Offer. It’s also sometimes called a pocket product or a tiny offer. SLOs are low-ticket offers ($7, $17, $47, etc.) that people buy which you hope will lead them to purchase larger offers from you down the line.

So how do you know whether a freebie or an SLO is the right choice for you–and more importantly–the right choice for your audience?

Often when people talk about an SLO they are referring to low-ticket offers that you run ads for on Facebook or Instagram. The money you make from selling these small offers is put back into the Facebook ads and becomes self-funding ad revenue. And this is a great deal—for Mark Zuckerberg (and all of the platforms that people are running their ads on)! But as the cost of ads gets higher and higher it’s harder to have success with this strategy. It worked great for the early adopters, but as the market got saturated with similar content and strategy, and as ad prices continue to increase, it can be harder to make this an effective strategy. But if it works for you–go for it! 

You can also offer low-ticket lead magnets without running any ads to them at all. You just want to make sure that what you’re offering is something your existing audience is willing to spend a few dollars to buy.

If an SLO doesn’t seem like the right type of lead magnet for you–consider offering a freebie instead. I think freebies are valuable precisely because they are free, and people are just more likely to opt into something that doesn’t cost them anything. Even if they use an email address that is just for free offers like these, if you give them a compelling enough freebie they’re going to continue to read your emails or follow you on social media. 

Are there going to be people that get your freebie and never take any action with it? Absolutely! There are also going to be people that buy your $27 offer that don’t take action with it either. (I cannot tell you how many of those small ticket offers are just buried in my Dropbox somewhere!)

Whether you choose to use a free or low-ticket offer to entice people to opt into your email list, the most important thing is that you’ve created something attractive to your audience that will ultimately lead them to buy your main offer. Your audience should be able to clearly see the value in what they’ve received from you, so they continue to follow you, building up that Know-Love-and-Trust. There should also be a clear line from the lead magnet to the next step of becoming a client or customer.

Want to know more about which strategy is better for you? We’ll be talking all about it in my FREE, 5-day What the Funnel list-building challenge that runs May 9-13, 2022. Sign up at WTFchallenge.com and you’ll get:

  • Daily LIVE trainings via Zoom (yes, recordings will be available)
  • Private Facebook group to show up and get feedback, share ideas, and meet other people doing exactly what you’re doing
  • Private podcast feed packed with daily lessons on how to build a list-building funnel
  • Transcripts of all trainings + recordings (gotta make it accessible)
  • BONUS!! PDFs to help you understand and grow your list (an online business dictionary, funnel timeline, lead magnet idea generator, resource breakdown, and more!)

Over the course of just five days, you’ll be able to stop wondering how to build your email list and actually start getting it done. You won’t need to ask WTF ever again! See you there!