Do you have a great product, but are not satisfied with your advertising results? Very often it’s not your product, but how irresistible your offer is.
In this guide, I’m going to show you in 7 steps how to create an irresistible offer without having to change your product at all.
Converting clicks to customers often just needs a touch of psychology…
Attracting new customers comes down to two things;
1) Creating a compelling offer.
2) Presenting the offer to the right audience.
Many people say that the product is the heart of your business, but the actual lifeblood is how you construct an irresistible and compelling OFFER around the product.
The product does not sell itself.
You need to package it in a compelling offer.
Do you see the difference? Your “offer” is different from your product.
The better the offer, the more likely you are to succeed.
P.S: Open this Google Doc Template OR… bring your pen to paper. You’re now going to construct your offer.
Element 1: Write Down One Word That Describes Your Product
First of all, what do you sell actually? Write down the word for what it is that you sell – not your company name, but the one word that describes what you sell.
For instance, not “Adline” but “Advertising software”. Not “Apple” but “Computers”.
Some would even argue that we don’t sell “online advertising software”, we sell “relevant traffic” or “visibility”. But stick to the specific product name.
PRODUCT: “Online Advertising Software”
This, in itself, is not your offer. It’s part of the offer.
Element 2: Write Down The Price
This one is also easy. Just write down the price.
Now, it will look like this:
PRODUCT: “Online Advertising Software”
STANDARD PRICE: $1990
This is basically an offer. But it’s not very compelling, is it?
Unfortunately, very many companies only come this far with their offer. They sell a product for a certain price.
To make the offer really compelling, you need to reduce risk and add a few psychological elements to it.
Element 3: Include Payment Terms
Many companies only allow customers to purchase their products for a fixed price. By offering payment terms, you’ll very often experience an immediate impact on conversion rates.
That is why your company should do everything you can to enable that. Even if that means taking a loss in the first and second or even third month. In the (near) long term, it can have a massive impact on net revenues.
Instead of selling your product as a one-time payment of $1990, give your customers the option to pay for the offer over three or even six months.
Adline is a SaaS company, so by nature, we don’t have any major upfront costs. Hence, we can more easily just offer a monthly subscription.
PRODUCT: “Online Advertising Software”
STANDARD PRICE: $1990
PAYMENT TERMS: $169/mo
If you already have a monthly subscription model, you should consider offering an annual plan with a discount.
Here’s an example from the project management software, Monday.com (You can choose the Yearly plan and save 18%):
Element 4: Add A Discount
Offering a discount is often a no-go for many companies that want to remain their “high-end status” or exclusivity.
But it is a proven, time-tested method to increase response. Just don’t be too aggressive with it.
Create a discount that, without shrinking your profits, will increase your net revenue in the end.
PRODUCT: “Online Advertising Software”
STANDARD PRICE: $1990
PAYMENT TERMS: $169/mo
ANNUAL DISCOUNT: Exclusive One-Off Sale $1290
You can also improve this one even more by using “Urgency” as a psychological element.
BETTER => Exclusive One-Off Sale $1290. Valid until June 1st, 2022.
Element 5: Include A Bonus
It’s all about increasing the perceived value of your offer.
Adding a bonus or a premium into the mix will absolutely help.
At Adline, we could for instance offer an exclusive advertising template library or a swipe file of winning campaigns…
PRODUCT: “Online Advertising Software”
STANDARD PRICE: $1990
PAYMENT TERMS: $169/mo
DISCOUNT: Exclusive One-Off Sale $1290. Valid until June 1st, 2022.
BONUS: Get access to the “Advertising Template Library”.
Element 6: Reduce The Risk
A big reason why a customer doesn’t buy your product is due to the risk associated with the purchase.
If you somehow can remove the risk, or at least reduce the risk considerably, your conversion rates have a tendency to increase in parallel.
The most common way to reduce risk is by doing something called a “risk reversal”.
It’s often based on a money-back guarantee or a free trial. Or even both at the same time.
Example added at the bottom of the Adline Example offer:
PRODUCT: “Online Advertising Software”
PRICE: $1990
PAYMENT TERMS: $169/mo
DISCOUNT: Exclusive Sale $1290. Valid until June 1st, 2022.
BONUS: Get access to the “Advertising Template Library”.
GUARANTEE: 14-Day Free Trial, 30-Day Money-Back Guarantee
Unfortunately, we don’t offer the money-back today (maybe in the near future). But at least we offer a free trial – very common in the software space.
Element 7: Include A Strong Call-To-Action (CTA)
What do you want your prospects to do now?
You’ve basically informed them and persuaded them about your offer, but not what you want them to do…
The CTA should lead your prospect to the next step in your customer journey or sales process.
Use big and bold colors – and limit the amount of CTAs on your page. Ideally, it should only be the same type of CTA, but it can be placed in many different places.
In Adline, we want people to sign up for a free trial and start using Adline NOW.
In other words, that means we want them to click “SIGN UP”.
PRODUCT: “Online Advertising Software”
STANDARD PRICE: $1990
PAYMENT TERMS: $169/mo
DISCOUNT: Exclusive Sale $1290. Valid until June 1st, 2022.
BONUS: Get access to the “Advertising Template Library”.
GUARANTEE: 14-Day Free Trial, 30-Day Money-Back Guarantee
CTA: “Sign Up Now” – Link to registration.
One last thing: Try to include social proof when you display your offer in your ads, landing pages and newsletter etc. How many people have used or tried your product? Any famous brands or persons?
