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Why you should be running special offers and how to successfully do it.

 

Sometimes it seems like if you are running a special offer, you are desperate. Looking desperate in the eyes of customers or competitors is not a good thing. So how do you give your clients a great deal, grow your income and still look like the top player in your industry?

“…running a great offer means that I have the opportunity to grow my brand, create awareness about my product/service and get people into my door.”

A few times in my life I’ve heard company owners saying things like “The profit margin on a special offer is too small. It’s not worth it” or “With specials, we are just losing money.” Thinking like this means that you are missing the point of running a great jaw-dropping special offer.

To me, running a great offer means that I have the opportunity to grow my brand, create awareness about my product/service and get people into my door. Is this not fundamentally what we need in order to expand our businesses?

Don’t just run a special for the sake of giving a discount with the hopes of making a few sales. Think about what you want to achieve. There needs to be meaning behind what you are doing.

Ask yourself the following few questions before you decide on your offer:
1. Who am I trying to sell to? Who is that ideal person that I want to spend money with me?
2. What problem does he have that I can try and solve?
3. What product or service can I offer to solve that problem? (And then only do you decide WHAT you will have a special on)
4. What kind of a deal or discount can I offer with this product or service?
5. (and the last step that a lot of people miss) What other product or service can I provide to “supplement/complement” the first one? – See this as your opportunity to make up for the discount you give with your initial offer.

To assist you in understanding who your ideal client is that you are trying to sell to, we have a worksheet that you can download that will guide you through this process.

Download Avatar Worksheet

 

We as humans are weird when it comes to buying things. We buy for emotional reasons.
Think about this: when you add something into a shopping cart that you want to purchase from a website, do you immediately press the “Pay Now” button? No, not always. You first take a beat to think about it. “Do I need this? Can I afford it?” Whatever your question is, the point is that there is almost always a question that makes you hesitate, even if it’s just for a second. There is always some emotion involved whether it’s excitement, happiness, doubt or whatever, there is something.

Your special offer needs to address that emotion. You need to get your prospect to understand that “It’s ok, you can continue with your purchase. You are making a good choice.”

After almost every sale, we then search for the answer to the question “Did I just waste my money or was this a good choice?” You as the person running the special offer needs to address this question as soon as possible. How? By sharing the solution, advantage or benefit of the purchase your customer just made. Offer a second product/service that compliments his first purchase. Make them feel like they made the best decision ever. If you can successfully achieve that, they will come back again and again and again, just because you make them feel good.

When you can offer a second product/service or if you can get that customer to return, that is when you start getting profitable.

“If you can make the emotional connection, you can make the sale, and get them to return.”

Always remember that if you can add value to the question of why they need to spend money with you, you will have a successful campaign. And as I mentioned before, the added benefit of your product/service or the solution it offers is much more important than the product or service itself. If you can make the emotional connection, you can make the sale, and get them to return.

In the next Blog:
We will look at why people spend money on your product/service, and why not. What makes you stand out from your competitors.

Why you should be running special offers and how to successfully do it.

Sometimes it seems like if you are running a special offer, you are desperate. Looking desperate in the eyes of customers or competitors is not a good thing. So how do you give your clients a great deal, grow your income and still look like the top player in your industry?

“…running a great offer means that I have the opportunity to grow my brand, create awareness about my product/service and get people into my door.”

A few times in my life I’ve heard company owners saying things like “The profit margin on a special offer is too small. It’s not worth it” or “With specials, we are just losing money.” Thinking like this means that you are missing the point of running a great jaw-dropping special offer.

To me, running a great offer means that I have the opportunity to grow my brand, create awareness about my product/service and get people into my door. Is this not fundamentally what we need to expand our businesses?

Don’t just run a special for the sake of giving a discount with the hopes of making a few sales. Think about what you want to achieve. There needs to be meaning behind what you are doing.
Ask yourself the following few questions before you decide on your offer:
1. Who am I trying to sell to? Who is that ideal person that I want to spend money with me?
2. What problem does he have that I can try and solve?
3. What product or service can I offer to solve that problem? (And then only do you decide WHAT you will have a special on)
4. What kind of a deal or discount can I offer with this product or service?
5. (and the last step that a lot of people miss) What other product or service can I provide to “supplement/complement” the first one? – See this as your opportunity to make up for the discount you give with your initial offer.

We as humans are weird when it comes to buying things. We buy for emotional reasons. Think about this: when you add something into a shopping cart that you want to purchase from a website, do you immediately press the “Pay Now” button? No, not always. You first take a beat to think about it. “Do I need this? Can I afford it?” Whatever your question is, the point is that there is almost always a question that makes you hesitate, even if it’s just for a second. There is always some emotion involved whether it’s excitement, happiness, doubt or whatever, there is something.

Your special offer needs to address that emotion. You need to get your prospect to understand that “It’s ok, you can continue with your purchase. You are making a good choice.”

After almost every sale, we then search for the answer to the question “Did I just waste my money or was this a good choice?” You as the person running the special offer needs to address this question as soon as possible. How? By sharing the solution, advantage or benefit of the purchase your customer just made. Offer a second product/service that compliments his first purchase. Make them feel like they made the best decision ever. If you can successfully achieve that, they will come back again and again and again, just because you make them feel good.

When you can offer a second product/service or if you can get that customer to return, that is when you start getting profitable.

“If you can make the emotional connection, you can make the sale, and get them to return.”

Always remember that if you can add value to the question of why they need to spend money with you, you will have a successful campaign. And as I mentioned before, the added benefit of your product/service or the solution it offers is much more important that the product or service itself. If you can make the emotional connection, you can make the sale, and get them to return.

In the next Blog:
We will look at why people spend money on your product/service, and why not. What makes you stand out from your competitors.