We increased our revenue X2 by launching a free product
Sometimes you don't need to launch more. You just need to try something different.
Here's how we increased our revenue X2 by launching a free product.
We've been collecting emails through free content products for 6 months. The funnel worked well enough. We collected 5469 emails.
Then we launched User Persona Generator - a free digital product. Users can generate a persona for their business (no email needed) and get 9 marketing ideas in exchange for the email.
The result: 4058 emails in just 2 weeks.
With our content freebies, it would take 135 days to get these emails. Our 1 digital product collects emails 10X faster than 8 content freebies.
Why it worked?
Content freebies have 0 potential to go viral. You give an email → you get a product. There's nothing to share.
But our digital product went viral. Users got the result instantly and shared it.
- At first, we launched it on Product Hunt & got featured in AI newsletters (free)
- Then people started sharing the results on socials (free)
- Now we see viral TikToks and Reels from creators, and SEO already gives some traffic (free)
IN JUST 2 WEEKS 🤯
TL;DR: Experiments >>> Doing the same thing over and over again. Even if it works well enough.
Giveaway valuable content in exchange for email works like a charm.
Yes, this works. Neil Patel was one of the first people I saw using free digital products for marketing. AI makes this easier now. For example, I recently created a simple generator app with Pico for my coaching business.
One thing I've added is a 5-part "educational email course" with an offer in email #3.
What I like about your generator is that you get the persona, then you can enter your email to get the marketing ideas. This 2-step gives instant value first, and likely generates a better lead.
What I would do to improve this is carry through with a series of related email vs "[FREE] 5 ChatGPT marketing prompts for you." I went to my email looking for an email about the persona and the marketing ideas. Seeing the ChatGPT thing threw me off.
Thank you for sharing this!
It is brilliant, rolling the main product on the freemium base model but with another product to generate leads is amazing, congrats!
Thanks for sharing, this is very useful to know!
I like the idea. It would be interesting to know the conversion rate of the Generator emails vs Free product emails. I'm assuming you get 10x the volume but convert at a lower rate but overall its positive traction.
Wow, amazing stuff, this is great, thank you for sharing
Value-share works well, think about adding soething like this in my tool, thanks for sharing
This success story underscores the power of thinking outside the box and taking calculated risks to achieve remarkable results. Kudos to the team for doubling the revenue by embracing a new approach!
Glad to hear about your success!
When is a good time for the Product Hunt launch?
Wonderful! the secret to scaling isn't doing more of the same, but rather having the courage to change course and present something novel. Congratulations to your team for realizing the opportunity and taking advantage of it.
Incredible! At times, the way to scaling isn't accomplishing business as usual, however thinking for even a moment to turn and offer something new. Congratulations to your team for spotting the potential and utilizing it.
We had the same effect at TreeScale.com by giving a free version. But there is a sweet spot of limitations for free product, which of course differs from product to product 🌝
This is amazing and thanks for sharing. The two methods for gathering emails work even if one is more effective.
I think I’ll mix both techniques to see how far that gets me.
Thanks once again
Thank you for the post. This is unclear to me. The post header is about increasing revenue, but the chart talks about form signups, not paying for products or subscriptions. If I get it right, you collected a lot of emails thanks to releasing a nice and free tool. But you haven't said what product you are selling, or that people bought it
More emails = more revenue.
We have an upsell funnel that leads to the paid product (our core product).
I see, so curating 4k emails has led to x2 your revenue. Awesome.
doing in 2 weeks what have taken you 6 months prior is just insane
Incredible! Sometimes, the key to scaling isn't doing more of the same, but daring to pivot and offer something fresh. Kudos to your team for recognizing the potential and capitalizing on it.
Wow, sounds amazing. I think I need to think of this strategy myself.
Kudos on the outstanding User Persona Generator launch, garnering 4058 emails in just two weeks versus six months traditionally.
Your instant-value, share-friendly approach is truly commendable. Drawing from your success, we want to apply similar tactics to Logomakerr.ai (https://logomakerr.ai/). Crafting immediate, shareable value, community engagement, and SEO optimization could amplify our impact. Your achievement and insights are greatly appreciated in guiding our direction.