25 Jun How to create an undeniable offer in 3 ways in a competitive market
How to create an undeniable offer in a competitive market
3 ways to create an offer of value
Whether you are a small to medium-sized business or a big corporate company you either have products or services that you sell to your customers. Your sales are actually what keeps you in business, isn’t it?
As an entrepreneur, you understand the importance of sales and how difficult it can get. But do you know how to boost your sales?
The answer is to create an undeniable offer! Something that people just can’t say no too. In this blog, we’ll discuss 3 ways how you can build an undeniable offer.
Before we start with how to create an offer we first have to look at what exactly an offer is. Think about your business, what are you selling? Let’s say for example you have a furniture shop your products will include sofas, chairs and tables. Or you have butchery and you sell meat and poultry.
An offer is a collection of products with an added value that helps to use the core product. In simple terms, it is the added value items that you can use with your core product. These added value items are why your customers buy your products instead of your competitor’s. If you add more value to your products the more people will buy it.
Our formula to use is:
Offer = Core Product + Value add
Now we get to the good stuff! How you can create an undeniable offer by using this easy formula mentioned above.
3 Ways to Create an Offer
1 – Create other value options for your customers
This is without a doubt the easiest way to add value to your products. ‘Offer stacking’ refers to adding more products to your core product and selling that as a package deal.
Supposing you have the latest and best non-stick pan on the market. You sell one medium size pan for R100. Now you decide to create an offer stack. You offer your customers 3 different pan sizes, an easy cleaning wipe, a Free Recipe book and access to a Private Cooking Channel for only R500. Chances are that people will rather buy the stacked offer for R500. This is because they perceive the value of the bundle to be of more value than just buying one pan.
The key here is to add more value to your core product. In the example above you don’t just get a pan, you get advice on what foods you can prepare and how to clean it for more durability. Use this in your business for whatever product or service you sell.
2 – Sell your ‘core offer’ through a really good story
In the sales world, we often hear that ‘selling is not telling’. And that is so true! Selling a product or service is about asking the right questions and sharing stories that will help a prospective client self-discover their own need for your product or service. Something you should always keep in mind is that people do not buy features and benefits, they buy solutions to problems.
You sell a product or service that solves a problem right? If you do you most likely have success stories of people who have actually used your product to solve a problem that they had. Sell your product with a story.
The essence of selling a product with a good story is to pull on your customer’s heart strings and addressing their problem they might have or their desire. Showcase the feelings that the reader relates to. This is done through a sales letter or video where you showcase a true testimony of someone that had similar problems and feeling to that of your reader, and how your product was a solution.
Let’s take a gym for example. You have a high tech gym with all the latest equipment and training programs to help weight loss. One of your clients has had a gym subscription for one year and lost more than 30kg, met their toning and muscle building goals and now they are living their best life thanks to your gym. Having a testimonial story showcasing the emotional battle this person endured trying to lose weight will be something your prospect can relate too. This creates the perfect opportunity to sell a gym subscription as the reader will see that your product had a real-life effect for someone else.
3 – Increase the value of your offer that’s different from your competitors
A saying we love is that ‘Value is in the eye of the beholder’. Which basically just says that the person who will be using your product will determine what value the offer has to them.
Advertising pioneer, Claude Hopkins, showcased this with an example from the book Scientific Advertising Origins. He gave a scenario where two men offered a horse for sale. Both horses were presented equally good. One man said “ Try the horse for a week. If you’re not happy, come back for your money. The other man said, “Try the horse for a week and then come back and pay me”. Hopkins said “I naturally bought the second mans horse.”
In the scenario no extra products have been offered, no sales letter has been used but the guarantee was the thing that made the offer undeniable. The second offer was exactly the same as the first but the guarantee (offer) was different.
Naturally, people tend to buy offers that perceive to be of more value to them. In the competitive world, we’re in today your guarantee needs to be different from your competitor. For example if your competitor offers a money-back guarantee offer a Free Trial. Find that something that makes your offer unique and of higher value.
Tips to use when creating an offer:
- Identify a core problem that people are struggling with and how your product/offer can provide a solution.
- Remember that your perception of ‘value’ can differ from that of your customer. Be in the mindset about what your ideal customer values.
- People want to be able to make a decision. Build an offer that they want to say yes too.
- Don’t be afraid to ask a high price – your perception of price is not your customer’s perception of value. Your customer will pay a high price if the offer is valuable to them.
Need some help creating a valuable offer? Not sure where to begin stacking your offer? We can help! Get in touch with us today and start adding more value to your customers with undeniable offers.