It seems silly to have a $1 pledge level, right? I mean how much is $1 going to move the needle? You would need 100 backers to make $100. That’s insane.However, there’s a great reason that the $1 level might be the most important level of your whole campaign. It all comes down to a marketing tactic people have been employing forever. It’s called the tripwire offer.
The tripwire offer is the one that turns free customers into buying customers. See, tons of people will take your free information, or free content. However, a very small percentage will even consider paying for it.
That number? 3%.
That’s right. Only 3% of people who you offer something to for free will consider paying for it. That’s not actually pay for it, mind you. It’s just that they are open to the idea.
Additionally, most people won’t go from not paying to paying hundreds of dollars for your product. They need to be eased in first. Thus, the tripwire offer.
It’s much easier to convert somebody that pays $1 into somebody that pays $10 than it is to convert somebody that has never paid for your work to pay you $1.
Why? Because their credit card is already out, so it allows you to upsell them on the spot. But, people won’t pay even $1 if it’s not worth it for them.
That’s why the $1 pledge level is so important. It gives them something to buy for cheap, see the value in what you are giving them, and consider buying more. If you give them a lot of value at the lowest rung of your funnel, there must be incredible value all the way through.
This doesn’t have to be something that’s labor intensive on your part, either. In fact, it shouldn’t be. It should be something they get, like, and want to buy more.
If you’re making a book, maybe write a short story in the world and give it to anybody that pledges a dollar to whet their appetite. If you’re making a tech product, maybe make a wallpaper of fun SWAG that people can get digitally and can easily be scaled.
The point is value at the lowest rung of the pledge level means value all the way through, which makes people inclined to pay for your higher tiered products.
Hope that helps. Make sure to check out www.freekickstartercourse.com to get your journey off on the right foot.