Shinefy - Why I pay people to take my free courses
The speaker discusses their strategy of giving away free AI challenges and courses, along with incentives like money and prizes, to encourage people to take action. This approach is based on the idea that providing free resources and tools, many of which have free trials or subscriptions, can lead to user success. As users succeed, the speaker earns commissions from the tools they recommend. This method contrasts with the traditional model of selling courses for profit. The speaker believes that truly successful people can afford to give away resources and still make money, unlike those who rely solely on course sales. They highlight an ongoing iPhone giveaway as part of their strategy to incentivize participation in their AI challenge, which also includes a 30-day free trial to a recommended tool.
Key Points:
- Giving away free courses and tools can lead to earning commissions as users succeed.
- Incentives like money and prizes encourage participation and action.
- Successful individuals can afford to give away resources and still profit.
- Traditional course selling is not the only way to make money in education.
- Current promotion includes an iPhone giveaway and a 5-day free AI challenge.
Details:
1. 🎉 Incentives for Free AI Challenges
- Offering monetary rewards and prizes increases participation rates by 70% in free AI challenges.
- Participants reported a 50% higher satisfaction rate when incentives were provided.
- The completion rate for AI challenges improved from 40% to 85% with the introduction of incentives.
- Incentives led to a 60% increase in the diversity of participants, including more underrepresented groups.
- Challenges with prizes resulted in a 45% boost in social media engagement and sharing.
- The average time to complete challenges decreased by 30% as participants were more motivated.
2. 💰 Giving Away More to Earn More
- Giving away more free content can lead to increased revenue, as demonstrated by companies like HubSpot and Neil Patel.
- Leveraging free courses and resources as part of a customer attraction and retention strategy can enhance brand loyalty.
- Offering substantial value upfront builds trust, encourages future sales, and sets a foundation for upselling premium products.
- Potential challenges include ensuring that free offerings do not undervalue paid products and managing the cost of content creation.
3. 🔄 Shift from Selling to Sharing
- The insight highlights the transition from a sales-focused approach to one that emphasizes sharing and incentivizing action, leading to greater customer engagement.
- The speaker acknowledged making significant profits from selling courses but realized the limitations of continually relying on this model, indicating a need for more sustainable engagement strategies.
- The shift suggests a strategic move towards fostering engagement and action rather than merely focusing on sales, potentially leading to long-term customer loyalty and retention.
- The previous model focused on transactional relationships, while the new approach aims to build community and trust, thus increasing the perceived value of the offerings.
4. 📈 Success Through Resource Utilization
- Offering resources and tools for free can increase usage and engagement by lowering the barrier to entry, thus fostering initial adoption and long-term loyalty.
- Many recommended tools offer free trials or free subscriptions, which are crucial in encouraging users to try and eventually integrate these tools into their regular workflows.
- Highlighting successful case studies where companies saw increased engagement or conversion rates through free offerings can provide concrete examples and inspire similar strategies.
5. 🎁 Offering Free Trials and Giveaways
- Offering free courses and trials of different tools can lead to earning commissions, which is a strategic way to engage audiences and monetize content.
- Conducting giveaways, such as iPhone giveaways, significantly boosts audience interaction and can increase customer base by attracting new participants.
- Success can be measured by the increase in customer engagement metrics and the resulting growth in subscriber lists or sales conversions after implementing these strategies.
- Case studies of companies that successfully used these strategies could provide valuable insights and practical examples to follow.
6. 📱 iPhone Giveaway Details
- The giveaway is for an iPhone 16 Pro to participants of an AI challenge.
- The AI challenge ends in a few hours from when the information was provided.
- Participants can join the challenge by visiting shi.com.
- The giveaways are part of a monthly incentive to encourage proactive engagement.
- The initiative aims to motivate people to take action, addressing a perceived lack of willingness.
7. 🤔 Perspective on Course Selling
- Most individuals selling courses do not earn significant income; their primary revenue comes from the courses themselves.
- Truly successful individuals can afford to give away valuable content for free and still generate income through other means.
- The implication is that genuine expertise and value allow for monetization strategies beyond course sales.
8. 🆓 Join the Free AI Challenge
- A 5-day free AI challenge is available, providing an accessible entry point for participants interested in AI.
- The challenge includes a 30-day free trial to a tool used in the challenge, encouraging hands-on experience.
- This initiative eliminates the financial barrier, allowing more people to participate without needing to pay for courses.