Let's unravel the secrets behind offers that not only catch the eye, but also convert prospects into clients. In today's episode, I'm going to explore the key components that make an offer irresistible.
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The Art Of Crafting A Strong Offer
Let's unravel the secrets behind offers that not only catch the eye, but also convert prospects into clients. In today's episode, I'm going to explore the key components that make an offer irresistible. Hi, I am Tim Fitzpatrick with Rialto Marketing, where we believe marketing shouldn't be difficult and that you must remove your revenue roadblocks if you want to accelerate growth. Thank you so much for taking the time to tune in. Super excited to dig into this with you today.
This episode was really spurred by the fact that I have been spending a lot of time the last month or so just reading about offers, how to craft offers that are strong, what are the key components of offers? Because the reality is without making consistent offers, we can't grow. And nothing starts until we actually make an offer to a prospective client. It is a critical part of our business that so many of us just overlook, we don't consider it. We don't really think about the relevance or the importance of it. So let's jump into this. I think you will find this super valuable.
What is an Offer?
First off, let's just start by talking about what an offer is. What is an offer? It is a proposal or a package that includes products, services, or a combination of both that we make to potential clients. Another way to think about this, and this is one way that I think is super simple to think about it. The product or the services is what we do, what we sell, but the offer is the wrapper that we put around that to make it attractive to people, to encourage them to want to buy. So in a nutshell, that's what an offer is.
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Tips to Consider for Creating Better Offers
What are some tips that we need to consider for creating better offers? First off, people favor the least uncertain option over the best. I think especially as I'm a consultant, people that are in B2B professional services, folks that are selling their expertise, we often think that, Gosh, we absolutely need to be the best, and there's nothing wrong with being the best. And I think that's something we should certainly strive for. But people do not buy the best always, they buy what is least uncertain. So when we're making our offers, we need to make sure that they are clear and that they remove uncertainty. And here are five tips. And by the way, these tips come directly from Dan Kennedy. He talks about, We don't buy the best, we buy the least uncertain. Here are five ways that we can make offers clear and remove uncertainty.
One is we need to make them simple to understand. Simple to understand. If you're technical, don't go into the technical mumbo jumbo. We need to take it from a 10 down to a level two or three. Make it simple.
Second thing he talks about is make them get benefits quickly. The sooner we can get benefits from something, the happier we're going to be, and we're going to want to continue to move down that path. We need to make sure people get benefits quickly.
Three, we need to use terms our ideal clients use. This is like messaging 101. It needs to be in their language, not ours because it's their language that's going to resonate with them.
Fourth tip is we need to make the offer fit their situation. If they see that it fits their specific situation, they're going to see that as something that's going to solve the problem that they have specifically now and help them get where they want to go. So we need to make it clear how this particular offer fits their specific situation.
And then the fifth is we don't want to overwhelm them with too many offers, and all the various things that we can eventually help them with. We need to focus on where they're at now and which offer is most appropriate for where they are right now because that's what they're really going to care about. If we give them too much information, it's not simple, it's overwhelming them, and it's adding uncertainty to the process.
Those are five tips. Hope you found those helpful.
Now, what I'm going to do... I actually have one other tip. Those five tips I just shared came straight from Dan Kennedy.
Next thing I want you to consider when you're looking at creating better offers is consider value versus price. We always want to make sure that the value that they are getting is significantly greater than the price that they are actually paying. We want to increase the value to the price discrepancy. We want that to be as large as possible. So when you're looking at crafting your offers, make sure that there is as much value as possible and that that value is as great, as greater as it can possibly be compared to the price itself that you're charging. Okay, super, super important.
Seven Elements of a Strong Offer
So the next thing I want to dig into here are the seven elements of a strong offer. Here we go, seven elements. By the way, I think it's not absolutely a prerequisite that you have every single one of these, but I think the more of these you can have in an offer, the more attractive that offer is going to be. Okay, so seven things.
One, we need to understand the person that we're trying to attract. Who is this for specifically? We have to understand who the ideal client is first and foremost. That's where everything starts. So you've got to understand the person that you're intending to attract and work with first and foremost.
Second is pricing and payment terms. And I touched on this. The value must be greater than the price itself. So when we're looking at pricing, we got to make sure that the value is much greater than the price itself. But the other thing that we can also do to make things attractive is we can play with the payment terms. Are they paying upfront? Are they paying over a period of time? You can tweak and play with those things a bit to see if that helps make the offer more attractive.
Third thing is your promise or the plan. What are you promising is actually going to get done? What is the plan? What are you doing to get to a certain place and what's that outcome or result? We've got to paint a very clear picture of what we're promising is going to get done, what that outcome is, and what the plan is to get there.
Next thing, scarcity. Okay, limited supply. The scarcity, when we're looking at scarcity, what we're talking about is a function of quantity. There's not an infinite supply of what you're offering. That's what we're doing with scarcity. Now, you don't want to create in your offers, you don't want to do anything that's false. Do not create false scarcity. Do not create false anything else that I'm touching on here today. This needs to be real. Because if it's false and people see that it's false, you're losing credibility and trust, which is not good at all.
Related to scarcity is urgency. And when we look at where scarcity is a function of quantity, urgency is a function of time. We need to let people, we want to let people know that this offer is not out there forever.
If you come back three weeks from now or two weeks from now or a month from now, this offer is not going to be there. Again, we don't want to create false urgency, but there are multiple ways we can create many ways we can create scarcity and urgency within our offers. We want to do that in a way, in my opinion, in a way that is true and that's going to help encourage people to take that next step if they're ready.
Then we've got bonuses. We're adding, I think you want to add bonuses instead of discounting your core offer. Because when we discount our core offer, it teaches clients that our prices are negotiable, which I think is a really bad place to be. Our prices are not negotiable, the price is the price. But what you can do is add bonuses to make the offer more attractive and to continue to add more value on top of what you're already doing. That's how I think you want to use bonuses. Typically, bonuses are going to be something that is going to be relevant or complementary to the core offer itself. Is it going to help them get results faster? Is it going to help them after you're done with the core offer? There's multiple ways you can look at that, but bonuses are a great way to add additional value without discounting the core offer itself.
And then the seventh element of a strong offer is guarantee. With guarantees, what we are doing is we are reversing risk. That's all we're doing with guarantees, is reversing risk. Think about it, removing some of that uncertainty that might be there.
Hope you found this helpful. Get out there, make some offers. I touched on what an offer actually is, some tips for creating better offers, and then seven elements of a strong offer.
Hope you found this helpful. If you did reach out. Let me know. If you've got more questions on this or any other roadblocks that you're running into with your marketing, head on over to rialtomarketing.com. Book a Free Discovery Call. I'd be happy to chat with you and give you some ideas of where you should be focusing on next to help get where you want to go. The other tool that we have available all the time is over at RevenueRoadblockScorecard.com. It helps you identify which of the nine revenue roadblocks are slowing down your growth. You'll get a customized report that takes less than five minutes. Go check it out, RevenueRoadblockScorecard.com. Thank you so much. Until next time, take care.