An irresistible offer increases the conversions of your prospects into paying customers.
The truth is, it is not enough to have a great product or service. You need to know how to market it. That is, how to create an irresistible offer to increase your sales and revenue.
In this article, we are going to share with you the elements to create irresistible offers for your business, so you can increase your revenue.
What Is An Irresistible Offer
An irresistible offer is a marketing strategy where the value of your offer exceeds the cost to access the value. That is, an offer your prospects can’t refuse.
Elements Of An Irresistible Offer
In order to create irresistible offers, there are some elements that you may include in an offer.
Remember: You don’t have to include them all in the same offer.
- A great product or service. You must deliver.
- The benefits of your offer, how your product or service solves the problem of your prospect.
- Bundle your products.
- Scarcity. Your offer contains a limited supply.
- Urgency. The fear of mission of out the promotion.
- Bonus. Instead of discounting, add bonuses (gifts).
- Guarantees. People fear risk. The higher guarantee, the higher the purchases.
- Different payment options.
- Social proof
1. A great product or service.
If you are thinking to work less and get a huge return, you got to think that again. You are wrong.
Not only will you get a lot of refunds, but also you are going to decrease your sales.
Our recommendation is to deliver massive amounts of value with your offer.
2. Solve your prospect’s problem
People don’t buy products or services. They buy solutions to their problems. So better to include the benefits, the experience, and the transformation your product or service provides.
Map out the before and after situation. How do they feel about it before and after they’ve acquired your product or service?
3. Bundles of high value
If you wish to increase the value of your offer and make more sales, make and offer bundles.
A prospect is willing to pay even more if they see an increase of value with a bundle.
Do you have some products or services that you can bundle?
Remember: the price should be lower than if you purchase the items separately.
You want to cause this reaction on your prospect: “Really? All of these just for this amount of money. How many can I get?”
4. Scarcity
Scarcity motivates your prospects to act fast.
It’s also a social proof. If soon you are going to run out of your product or service, it means it’s so popular that you cannot wait to take action.
You can usually see Scarcity in Action, when you are booking a room in a hotel. They usually put the remaining rooms available, making you to purchase it before it’s gone.
5. Urgency
When you offer your product or service with a discount for a short period of time. You can also keep the original price and offer free bonuses for a limited-time.
Creating urgency puts pressure on your prospects, so they have to act now if they don’t want to miss out.
You can place deadlines to your promotions for 24-48 hours.
6. Bonuses
Bonuses are a great way to break objections, and increase the perceived value of the offer.
Add free extra items to your offer that your customer needs and complements the main product or service.
For instance, if you sell a course, you can add a template as a bonus. With a product, you might have seen an offer where you can purchase some cosmetics with a free dressing case.
7. Guarantees
People fear risk. If you remove the risk, the appeal of your offer is stronger.
There are many grades of guarantees:
The strongest is to offer a money-back guarantee. If your customer is not happy with their purchase, they can get their money back.
Another way to remove risk for your customer is to offer a trial period. For a period of time, your customer can enjoy your product (usually a software) and evaluate if it’s for them or not.
8. Different payment options
Payment options can work well too. This is a method that is very common to see on any ecommerce platform. A tactical strategy that push your customer to buy and get the experience now.
It boosts conversion rates.
Installment payment and Buy Now Pay Later softwares:
- GoCardless
- Sezzle
- Afterpay
- Klarna
- Affirm
9. Social Proof
Testimonials can make a huge impact on other buyers.
Ask your advocates a written review or even a video. It will help you to increase conversions.
For instance: Tony Robbins’ website. You can read testimonials of Serena Williams (Tennis Player) and Marc Benioff (Salesforce CEO) which enhance the benefits of his strategies.
Conclusion
Creating an irresistible offer is not about giving away your products or services, nor slashing them to the bone. An effective irresistible offer should contain some of the above elements.
Testing them is key for your success!