Can You Make Your Offers Irresistible?

You already have an initial list of benefits based on the most common features of your product or service. Your benefits have become a promise, an expectation of what your client will receive when they make a purchase.

Now it is time to dig deeper.  How can your promise be made into an irresistable explicit benefit that is directly relevant to your prospect?

One of the best things to do is to ask your current or past clients what it was they liked about your business and doing business with you. If they are no longer customers or clients you should ask them why they stopped doing business with you.

Your clients have many choices in the marketplace, yet they have chosen to do business with you or your firm. Do you know why? Their answer might surprise you and it may not be what you think.

Your benefits need to be relevant to your target prospect. You start out using generic benefits that may apply to most prospects in your target market. As you learn more about your target market, clients and prospects you begin to tailor the benefits to specific customer targets.

Make your offers irresistible

There is a marketing tactic called the irresistible offer. Something that you offer that is almost too good to be true. An offer where it would be foolish for your prospect not to take you up on it.

You may have received an offer for a product or service in the mail or watched one on television. The offering may have included multiple bonuses and gifts as an incentive to buy. The bonuses may have even had a more perceived value of the product.

A famous example of the irresistible offer was seen in the famous Ginsu Knives infomercial shown in the United States. It went something like this. After demonstrating the product, a set of knives, the pitchman stated, “But wait, there’s more!”  He then proceeded to offer multiple bonuses, extra sets of knives, can openers, vegetable and fruit peelers, etc. Then he started taking the price down, and discussing installment plans.

By the time he finished with his pitch, many prospects just had to buy. The offer was too good to be true! There was so much value in the offer, and the price and terms so affordable, that the offer was “irresistible”.

Marketer and author, Mark Joyner has written an entire book on the topic called, “The Irresistible Offer”. You can download a free copy on his site.

Can you offer bonuses?

You can often increase the value of your current product or service, by adding a bonus to your offering. Dentists often over free whitening kits. A lawyer may offer a free book on estate planning. An auto repair shop may offer a free oil change.

Low cost items with a high perceived value are the best for this. Information product for example can be easily crafted, and with electronic distribution delivered to hundreds or thousands of prospects at a relatively low cost.

If there is an upsell component of your offering, you can include it alongside the standard offering either as a discount, or for free. You can specificy a time limit on the offer, or other conditions. The choice is yours.

Not all dollars are created equal.

You have a license to print money with your marketing. What is the value of a bonus report or whitepaper? It depends on how relevant it is to your prospect, and what dollar value you assign to it.

The challenge with cost accounting is it drives all of your offers to commodity status with price as the key differentiator.

Let’s say you charge $125/hour for your goods and services. What is the value of a free hour long consultation? $125. What value would you assign to a face to face meeting with a prospect? Perhaps more than that. What value would your client assign to that? It depends.

Why Brain Surgeons make more than Family Practitioners

Marketer and Copywriter Dan Kennedy emphasizes the use of widgets and bundles in marketing. Take a look at what other items or services you can add to your baseline offering to increase its value.  The key is to understand what is valuable and relevant to your clients or customers.

Can you develop a system or a process to support your product or service? Can you provide not just the information but all the items necessary to implement your solution?

Does your prospect want consulting services, strategy and implementation? Does your prospect want product, ongoing maintenance and support? What other things in and around your product and service can you add to make the offering more valuable.

Can you bundle, products and services together to increase value? These products and services may be your own, or those you procure from vendors and partners.

Remember, people will typically pay more for total solutions than for al a cart point solutions.

Can You Reverse The Risk

Marketing Guru Jay Abraham highly recommends a strategy known as risk-reversal. In every transaction, one party is expected to take on more risk than the other. This risk may be financial or operational. You can do yourself and your prospect a big favor by being willing to expose yourself to more risk.

It sounds counterintuitive but its not. What would happen if you were to reduce the risk for your clients? Would it make them more likely to buy from you? Would it make the offer more irresistible?

You may already be offering a service guarantee. What if you were to extend it?

A few years ago Hyundai Motors received a lot of publicity when they began to offer a 10 year/100,000 mile warranty on their vehicles. The automotive industry standard warranty at the time was 3 year / 36,000 miles. What Hyundai was doing was unheard of and shocked their competitors. It seemingly made no sense. Or did it.

What was Hyundai doing? In exchange for the purchase, they were willing to take on more risk. For the purchaser it was a great deal. It increased the value of their purchase.

Hyundai is a very successful company. I am quite sure that they calculated the financial risk to the company. They most likely included it into the price of the vehicle somehow, so there was limited risk to the corporation. Alternatively, they may have reviewed their history of consumer warranty claims and realized very few would actually take them up on the offer.

The initial cost outlay to the company for the progam was most likely negligible as well, but the upside in the marketplace? Huge.

Key Takeaways.

1. Think of ways you can make your offers irresistable to your prospects.
2. Develop bundles, widgets and total solutions for your prospect increasing the value with little cost to you.
3. Strive to reduce the risk wherever possible for your prospects while managing your own risk profile.
4. All dollars are not created equally.

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