What’s Your Offer?
All this for only $19.95!!!
Ron Popeil knows it. Tony Robbins knows it. And so do the people who make Ginsu knives. What do they know? They’ve mastered the art (and science) of making irresistible offers.
Unfortunately, with many types of businesses, business owners ignore the most basic rules of direct marketing. They create terrific service organizations, but they never bother to create compelling reasons for prospects to call. (PS: “Our service is better” is not a compelling reason to switch vendors).
Direct Marketing 101
In direct marketing, there’s a rule of thumb that states that the response you get to any marketing activity will be driven by three elements: your list, your creative and your offer. Now here’s the interesting part:
20% of your response is determined by the quality of your creative
40% is determined by your prospect list
40% is the result of your offer
While most companies will agonize over every word in a sales letter, and make tweak after tweak to the look of their brochure, they pay little or no attention to the quality of the list or their offers. Yet even lousy creative when sent to the right people with the right offer will outperform beautiful materials sent to the wrong people or with the wrong offer. Simply put, to drive more sales, start making better offers!*
*You also need to develop better lists, but we’ll save that topic for a different article.
What Is Your Business REALLY Providing?
Think of that question in this way… You go into your local hardware store and you purchase a one-quarter inch drill bit. Is that hunk of metal what you really want? Of course not; what you really want is a quarter-inch hole, but they don’t sell those!
When it comes to creating compelling offers, the secret is to first find out from your clients what kinds of holes they need. If you haven’t done so recently, schedule some time with your top clients and ask them: What is it that we really do for you? What problems do we help you solve? How do our services help your business be more successful? How do we help you be successful?
Once you’ve determined the kinds of problems you solve, and the real value you offer, creating great offers becomes much easier.
…But wait, that’s not all!!!
Want to learn the secret to creating irresistible offers? Watch infomercials!
Love ’em or hate ’em, infomercials work. An effective infomercial will do the following:
- Get viewers to identify with a problem, frustration or desire.
- Create emotional excitement (i.e, a feeling of “I have to have this”).
- Build up the perceived value of their product through comparisons (i.e., how much would you expect to pay? Or other company’s charge hundreds more for this type of product).
- Reduce the perception of cost through a payment plan (3 payments of $19.95 sounds way less than $59.85).
- Expand the value of their product bundle offer by adding free extras.
Before making your pitch, make sure prospects are emotionally connected to the problems you solve and value you offer.
In your marketing, emphasize the problems people have that your services can solve. Need a 1/4″ hole?
Make your offers exciting.
With the right wording, your offers will sound irresistible. For example, which sounds more appealing: “an article with sample interview questions” or “The 10 Most Important Interview Questions Companies Fail to Ask?”
Find ways to be creative about the financing.
Can you offer installment payment plans, deferred payment, or other financing options that would make your services more (immediately) affordable to prospects?
Beef up your value.
For example, consider longer guarantees, better levels of support, free delivery or free information that could help clients to be more successful in using your products or services. The key is to find extras that have low-cost and high perceived value.
Depending on your business, remember that unlike infomercials, your main goal may be to talk to somebody further about your product or service. In these cases, make offers that will help you land appointments and deepen relationships with existing prospects and clients. This could be offers for information (guides, booklets, articles), offers for education (seminars, webinars) or some kind of deal (10% off) if they call and schedule an appointment today! Remember, get creative!!
An Irresistible Offer for You
Knowing you need better offers is one thing. Actually making them is more difficult. If you’d like some help, please contact us at BARQAR and we can work with you determine what approach will get people to “Call Now!”