We’ve had several clients come to us with an idea for an offer. As they fumble through trying to explain their offer to us, it’s clear to us (and them at that point) that they haven’t put enough thought into their offer.
We capitalize on these teachable moments. We advise the client that it’s not time to start building a sales funnel yet. If you haven’t mastered the art of articulating the solution you bring, your potential customer won’t get it and neither will we (which makes it tougher to build your copy and your funnel). Does that make sense? Building a site when the offer isn’t clear is much like putting the cart before the horse. So, having an idea for an offer isn’t enough.
Just in case you’re faced with a similar dilemma, we want to share this blog post in hopes to help you out. So keep reading…don’t chuck your offer idea.
One of the first things we advise our clients to do is get clear on their offer. A client who is crystal clear on their offer can state it to a potential customer in 30 seconds or less and that customer knows exactly what they are being sold.
If you’re not there yet, you’re not ready.
Hopefully, as you went through the process of getting clear on your offer, you had the customer in mind the whole time. If your offer isn’t customer-centric, then it’s likely not going to appeal to a desire in them. You can’t assume that an offer that excites you will also excite your customer. That’s why it’s important to keep your ideal customer in mind as you construct your offer. If you develop your offer simply to attach a big price tag to it, you’ll quickly realize that it’s a hard sell because the customer and where he/she resides in the customer journey were overlooked when constructing the offer.
To create a desirable offer, you have to understand your clients’ problems and where they are in the customer journey. Present the right offer at the right time to increase the chances of conversion.
You’ve clearly stated your offer so there’s no doubt in the customer’s mind what problem your offer solves and how it benefits them. And, your offer resonates with the customer—they desire it. Now what? Now, all you need to do is tell them the next steps to take advantage of your offer.
What button to click next. What email to look out for next. How what you’re offering will get to them after they tap the buy button.
Speaking of the buy button…I’ll throw this in. Having the right price for an offer is important but it is not a show-stopper like the 3 components mentioned above. We’ve seen offers that were priced too low that sold to the right customer and we’ve seen insanely priced offers also sell to the right customer. So, having the perfect price isn’t necessary to roll out your offer.
Do spend time thinking through your pricing thought--don’t just grab a number out of the air. Have a rhyme and a reason for why you’ve landed on your initial price and go from there. Most marketers will tell you that they've adjusted their offers along the way based on post-launch feedback. So, don’t get stuck on pricing.
I have to admit that I’m amazed at how large a price tag some marketers can command for their products and services. It all depends on the offer and the customer. Which is why it’s important to know your customer and nail your offer.
A number of our clients admit that they struggle to get their pricing right. Shucks, as an agency with high-ticket services, at times we’re faced with pricing woes too. And, the best advice we can share with our clients is the same advice that was shared with us. And that is, charge based on the transformation and value your products or services bring to the end-user.
For example…let's say you’re a credit counselor. (Happens to be a client at the moment so credit repair is top of mind). As a credit counselor, part of your pricing strategy should be to ask yourself how much money will you save your clients for a lifetime. If you take them into your program, teach them the tricks of the trade, they rebuild their credit and suddenly go from 17% interest rates on car loans to 2-3%, assuming they will buy a few more cars in their lifetime…how much money has your program saved them? And if they secure a mortgage later, think of how much money you’re saving them because they can get a much better rate on a home loan…the car savings, the mortgage saving…it all adds up.
Once you see those kinds of numbers on paper, doesn’t it become much easier to price your offer so that it’s fair and equitable to both you and to the client? Can you see yourself having the confidence to price your core credit repair offer at a premium?
Good. Then go get that offer tight!