The word 'free' is one of the most powerful marketing words in the English language, and moving the free line is the most important idea Eben has implemented that led to his business success
Eben states this is 'the most important idea I've implemented in my business that's led to the most success' and calls it 'a very powerful mindset, very powerful approach'
Moving the free line means taking your very best knowledge, techniques, and insights and packaging them into reports, ebooks, and videos that you give away to prospective customers
Eben defines the strategy as 'taking some of your very best knowledge, techniques, insights, and packaging it up into reports, ebooks, videos, and other forms that you can give away to prospective customers'
Digital technology has revolutionized content distribution costs - instead of spending $20,000 to give away 1,000 one-hour videos, you can now do it for essentially free
Eben explains that in the past 'if we wanted to give away a one hour video, we would have to invest something like $20 each' and 'instead of spending $20,000 to give away one thousand one hour videos, we can now do it for free'
You must give away your very best ideas, not hold onto them like a monkey holding a nut in a trap - your best ideas will get out anyway, so they might as well be associated with you
Eben uses the African monkey trap analogy where 'too many of us are like that monkey holding on to our ideas, get clamped onto them selfishly' and explains 'your best ideas are going to get out there into the world anyway...so it might as well be you that gets your best ideas out there so that they can be associated with you'
Popular music artists release their best songs as singles to represent their albums - the same principle applies to business content marketing
Eben asks 'When they're about to release a new single, do they take the worst song that they've created and then release it to the radio stations?' and explains 'Imagine if they took their worst song and then they put it out there to represent them'
Every business is an information business - even if you sell physical products, you can create educational content about your products or industry
Eben quotes his friend Alex Mundosian saying 'every business is an information business' and gives examples: 'If you sell golf clubs...you can teach your customers how to play better golf, or how to shop for golf clubs, or how to get the best deal. If you own a restaurant, you can teach your customers recipes'
Create free content worth at least $100 in value, then use it to capture email opt-ins through dedicated landing pages
Eben states 'I like to follow the rule of thumb of making something that is worth at least a $100' and explains to 'offer it in exchange for an opt in to your list'
Expert InsightEmpowering▶ 9:44 Eben's original Double Your Dating ebook contained most of his best ideas, and he expanded the business by taking individual chapters and creating entire products around each concept
Eben explains 'when I go back to my original ebook that I wrote...most of my best ideas were in that book' and 'to create my product line, I just took a chapter of the book and expanded it' creating '12 or 15 other products'
Expert InsightEmpowering▶ 11:53 Eben and his company pioneered early landing page designs that were copied by tens of thousands of people, even causing Google to change their algorithm
Eben states 'I and my company, we actually pioneered a lot of the kind of early landing pages and opt in pages online. And the last time I checked, literally tens of thousands of people had ripped off my original landing page' and 'Google actually changed their algorithm based on so many people ripping off this landing page'
TeachingEmpowering▶ 14:38 Treat email list subscribers like friends by providing extra value, exclusive interviews, and bonuses rather than just sending promotional emails
Eben explains 'once you've got their email address, don't just spam them with a bunch of offers. Send them valuable stuff. Treat them like you would treat a friend' and describes setting up 'live one on one exclusive interview with the person or a webinar'
TeachingEmpowering▶ 16:12 Partner with others who have email lists by offering to do free webinars or training for their audiences, providing value while gaining exposure
Eben suggests saying 'hey, I noticed you have a list of, people that have this particular interest. Would you like it if I did a free class for them? And then I'll give them, this free report or free video that's worth a $100'
Expert InsightEmpowering▶ 17:11 During product launches, Eben typically generates 50,000 to 100,000 new email subscribers over 2-3 weeks without paying for advertising, resulting in multi-million dollar launches
Eben states 'When we do an online product launch right now, it's typical for us to get, oh, 50 to a 100,000 new opt in leads, new people on our list over the course of two or three weeks' and 'We don't pay a dime for these people' and 'this is why when we do product launches, they're usually multi million dollar successes'