Don’t run up over $17K in costs as I did…
Back in 2017, I decided to run a crazy little “giveaway” experiment…
I started to give away $17,000 a day EVERY DAY, from October leading up to Christmas…
For a grand total of $1 million.
This was CASH, too. Not $1 million in products or prizes.
I was running up costs giving away a million bucks in cold, hard cash.
Now, if you think that’s crazy, you’re not alone. Most of my team was against me doing it…
But I knew giving away this kind of money had the potential to blow up my social media following.
I felt it would generate more attention for my brand…
So I went ahead and did it.
Each day I asked people to post about the offer on their social media accounts with the “10X” hashtag…
If they did this, they would be in with a chance of winning the daily $17,000 giveaway.
It all sounds simple enough, right?
But each day I did this, I kept hitting obstacle after obstacle.
People were suspicious. They were asking questions.
“Hey, Grant… what’s the catch?”
“So what do I have to do? When do I have to do it?”
“Do I HAVE to do that THERE?”
Man, it was hard!
I was just asking for people to post on social media with a simple hashtag.
Which is something people do every damn day.
And I was offering folks the chance to win $17,000 just for taking part and doing this simple, daily activity.
But getting people to act was much harder than you might expect…
And you can probably guess what I’m going to say next.
I couldn’t give that $1 million in cash away, despite my efforts.
You heard me right!
I was offering $17,000 in cash to a lucky person, every single day…
And I just couldn’t give all my money away.
The truth is, though (and this might surprise you…)
I suspected this would be the case all along.
Which sounds crazy…
But I had my reasons for suspecting this.
And I also had my reasons for going ahead and run up costs anyway.
See, if there’s one thing I teach people all the time about branding and marketing…
It’s that MONEY FOLLOWS ATTENTION.
You can’t get people to act unless they know you exist.
And you can’t get people to raise their hand for an offer unless they know what the offer is…
AND unless they know what they need to do to claim it.
There will always be questions. Objections. Uncertainty. Apathy.
You will always need to repeat your messages…
You’ll always need to retarget and follow up…
And you’ll always need to work hard at closing the people who said they were interested but haven’t taken action.
It doesn’t matter if you’re selling a $20,000 high-ticket coaching program to your clients…
Or whether you’re “selling” people on the idea of getting $1 million just for sharing something on social media for “free”!
It’s all the same activity.
It’s for this very reason you should think twice about running discounts or crazy offers to win business…
And you should certainly feel no shame in charging for your product or service — in a day and age when everyone is encouraged to constantly give away “free value.”
There’s a time and a place for “free.”
But choose it wisely.
This was why I ran this “experiment.” It was a lesson I wanted to teach to my own team…
And now I’m sharing it with you.
You often have to “sell” free just as hard…
So you might as well get paid!
Be Great,
Grant Cardone
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