Download: MP3 (92.4 MB)
You may have heard we’ve made all of the podcasts free and publicly accessible (here’s a BEFORE/AFTER image for the seanwes podcast).
We already addressed and solved the issue of rewarding our loyal customers. Current Gold Members now have access to every program we’ve ever made inside their Vault. Past Master Class customers will receive over $1M in membership credit in total.
The real question is why are we doing this?
People regularly say they have learned way more from the seanwes podcast than they did from college. The episodes are obviously incredibly valuable, so why give them away for free?
It’s a reasonable question. In fact, I asked myself the same question years ago and came to the conclusion that we should lock them all up in the Vault where people had to pay to access them.
I don’t fault my past self for coming to this conclusion. At the time, we’d built this massive content creation business (and team) around cranking out quality content in high volume.
Only… we weren’t making enough money.
We also didn’t monetize our content like the majority of people do with sponsors and advertisements. We didn’t have a solid business model.
So as a patch fix, we decided to stop giving away so much for free and start charging for the information we were providing.
But in hindsight, I see this as fighting a trend: information wants to be free. Information is more accessible and more affordable than ever and it’s not trending in the direction of becoming less so.
That’s what I want to talk about today. If information wants to be free, what does that mean for the future of business? Does that mean you can’t sell books or courses? No, but it does mean you need more than just information.
You need to provide transformation.
Highlights, Takeaways, & Quick Wins:
- Information wants to be free—it’s more accessable and affordable than ever and it’s not going to become less so as time progresses.
- Information is still extremely valuable, but you need to sell transformation.
- Transformation is engineering an end-result. Information facilitates transformation.
- The value of information is in it’s application, not it’s consumption.
- How are you helping people apply information?
- The way to win is to provide value and give as much away for free for as long as possible (assuming you have a way to pay the bills in the mean time).
- You must be able to afford to give value away.
- Giving away value for free is a long-term play in loyalty, trust, and reputation.