Irresistible Offer
Lesson 46 from: Brand Marketing Bootcamp: Build An Actionable Marketing PlanScott Lancaster
Irresistible Offer
Lesson 46 from: Brand Marketing Bootcamp: Build An Actionable Marketing PlanScott Lancaster
Lesson Info
46. Irresistible Offer
Lessons
The definition of strategy
03:39 2The 4 stages of marketing
03:16 3The difference between strategy & tactics
03:46 4The 6 laws of marketing
09:56 5Understanding Creative & Distribution
02:16 6The 4 marketing P’s and how to use them
05:08 7SWOT Matrix and how to use it
02:28 8Porter's Five Forces
04:4360/40 Law of marketing
04:04 10The marketing funnel
06:27 11Analyzing your competitors
07:14 12Deciding your target audience
06:59 13Creating your marketing objectives
11:42 14Pricing your products perfectly
08:16 15Watch this before arranging your marketing strategy
02:21 16Awareness, finalizing your awareness tactics
03:52 17Partnerships and affiliates (free tactic)
09:40 18Blog writing & SEO
07:26 19Podcasting
07:10 20Public Relations
05:58 21Giveaways
07:18 22Word of mouth
06:21 23Valuable courses
08:09 24Social media overview
05:28 25YouTube
09:36 26TikTok
03:58 27Twitter / X
04:48 30How to create better content in half the time
07:54 33Why start-ups should never use paid advertising for awareness
06:21 34Education & Consideration
01:33 35Workshops & Webinars
08:39 36Social Proof
06:55 37Effective Email Marketing
05:34 38Utilizing FAQ Sections
05:31 39Portfolio & case studies
07:39 40Leveraging product comparisons
03:26 41Tips to increase desirability
07:22 42Harnessing the power of Google reviews
05:20 43Sales & Conversion
02:28 44Psychological tricks to convert customers to buying
08:25 45Building a list of customers ready to buy
08:46 46Irresistible Offer
08:31 47Persuasive Sales Page
07:35 48Promotions & Free shipping
04:24 49Improving conversion rate (PIPE FRAMEWORK)
06:39 50Customer Retention
03:43 51Expanding your product range
07:18 52Asking for feedback & refining your product
03:37 53Loyalty programs and the subscription model
06:43 54Gifts & Surprises
05:02 55Finalizing your marketing strategy
07:40Lesson Info
Irresistible Offer
So what is an irresistible offer? Well, having an irresistible offer is the secret source to ultimately making customers feel stupid saying no, it should make it so simple and easy for the customer to say yes, that they always end up converting into paying customers in the end over the long run. Now, this is actually from Alex Ho Mosey's book the Million Dollar offer, which is an incredible read. You should definitely pick it up if you're looking to start a business, if you already have a business or basically, if you're just a human breathing oxygen as you to ultimately learn how to sell something to someone. Now, there are some really important steps to actually helping you to create an offer is irresistible to your target audience. And ultimately, that all starts with actually defining your market's desire. So you really need to understand your target audience fully. And obviously, we've already discussed this and hopefully you've filled that section in within your brand guidelines.
I hope so. If you've already done that, then simply just look at it and figure out what it is that this actual person that you're trying to appeal to desires most when it comes to your product or service. For example, if it is someone who's looking to buy yoga pants, are they looking for their, but to look great? Are they looking for their legs to look great? Are they looking for something that's more comfortable or more sexy? Like, what are they looking for? What is the purpose for that particular person in regard to buying that particular product? Now, once you have that, you want to basically make sure that you provide enough value to make it stupid for the person who's wanting to buy that particular product or service to say, no, you want to focus and talk about all of the things that they are going to benefit from actually using the product in the future. And the amount that they're paying for the product or service isn't just for the product or service itself. It's for the long term benefits of what they're going to gain when they actually use the product or service over the long term. Now, one thing that you can use to really increase the value proposition of what you're offering is to include bonuses and guarantees. So for example, if you're selling yoga pants again, I just keep using yoga pants for some reason because it's just easy to understand for everybody, then you could potentially have a three year warranty. You know, the quality of this product is so good that, well, no, let's just not do three year warranty. Let's do a lifetime warranty. So if you buy these yoga pants, we will either replace them or repair them. If any of the stitching comes away or if anything is done at all to make them less desirable, you will ultimately get a free pair as a replacement or you will get them repaired. How about that? When you talk like that to a customer one, it feels like you have a lot of confidence in the product, which you should do if you're having a lifetime guarantee with the product. But secondly, they're not just buying a pair of yoga pants, which is gonna break in, you know, one or two years. If you've got a lifetime guarantee, you're buying a pair of yoga pants for life. Obviously, if the business goes out of business, then you won't have anyone to actually repair the yoga pants. But what they're basically saying is you get this looked for life and we'll take care of it with you. That's a really strong message. I'm not saying you should do that. What I'm saying is it gets the message across. If that makes sense in regards to bonuses, you could add things on. So for example, if you sell yoga pants again, I keep using yoga pants, I do not know why I've never even done yoga. You could potentially offer something like a membership to a local gym, for example. So you could partner with the gym in that sense or you could do something such as a free getaway. So maybe you are entered into a raffle or a competition to win a retreat somewhere, which could be really cool. Obviously, you can get super creative, but as you're actually offering these things to customers, make sure you're testing your offer because that's going to be super important to actually figuring out what works and what doesn't work. For example, if you a B testing the yoga pants with either a free getaway for a competition and also for a free month in a local gym. And this one significantly outperforms this one, you can know which one you need to go with next time. So make sure that you test and make sure that you learn as you're developing different offers to see what works and what doesn't work and also listen to your customers and see what they're talking about. Because ultimately, you could have a conversation with a customer who says I really love these yoga pants, but I don't know where the best this is to do yoga where I'm from. If you literally create a list of all of the yoga businesses in their local area. And then you essentially say, oh, these are a list of the top yoga studios in your particular area. We actually have partnerships with them. We can actually refer you to them and actually get you a discount on your first three months. You could even get a commission from that place to refer them to that place and that place gets a new student, you get a little bit of commission, you sell the yoga pants, they think you're great. Everyone's a winner. Now, one thing that works really well when crafting amazing offers is ultimately scarcity and urgency. Now, I've already discussed this in the psychological tricks section of this course, but it is a very important tactic to use if you're looking to drive sales, but you have to do it ethically, for example, do not say it's urgent that you get these yoga pants. Now because next week, they're going to be double the price and then next week they come to the website and they are the exact same price. The next time you see that something is going to be urgent, it's not really going to carry that much weight. Now, some of the pros of having an irresistible offer is you get more customers, you get high conversion rate and you manage to grow faster. However, obviously all pros have cons. So if you are looking to develop a really irresistible offer, you may get people that think it's too good to be true. You may get expectations from people that are just extraordinary and you just can't meet them, you just cannot meet the clients expectation because you've offered too much, you need to be really careful. And also if you've got lots of customers, you need to manage them all, which is in some businesses really easy, but in some businesses it's not so easy. Now, Amazon Prime is a prime example. Pardon? The pun? I made that joke up on the spot. Thank you very much. I'm here all week is a great example of an offer which is pretty much irresistible because you're going to pay $4 maybe even $7 or even more. And sometimes for delivery, for a product from Amazon. So for them to basically give you free delivery for all prime products plus streaming, plus a ton of other good stuff. It kind of makes sense like you feel stupid not getting it. And the only reason I don't have it is because where I live, they don't have Amazon and where I live, I also can't get Amazon Prime otherwise I'd have it. So it's kind of that thing of you see the offer and you're like, yeah, I, I kind of need that because I'm gonna spend pretty much that in postage and packaging every month anyway. So I might as well get all this free stuff anyway. So this makes a lot of sense to me. And then there's other companies like Groupon, for example, which is a company which I think is based in the UK. But I think they do other stuff worldwide as well just in different names and under different companies. But they basically sell experiences that are worth like $200 on the company's website or the hotel's website or whatever for like a spa day. But they sell them for $50 which is like 25% of the price, which is crazy. But because it's Groupon, you feel like it's legit, it is legit. You will get the service that you have bought, but it just makes it kind of brainless to actually purchase, you know, you're getting a $200 thing for $50 and you know, it's $200 it just doesn't make any sense, right? So this is what it means to have an irresistible offer. And if you don't have an irresistible offer, then you'll know about it because clients won't buy from you. So in regards to irresistible offers, I would give it a cost rating of 10 because you don't really need to do anything. You just literally need to give the offer and that's it and craft the offer. So it does take a little bit of time to set up obviously. So I'll give it a four because you need to think about what you can offer, what you, you know what you can't offer to make sure you don't set expectations that are unrealistic. And in regards to maintenance, you need to test your offer, you need to make sure that you are going through different types of offers over time to see what works best. So I'll give it a six just because it is going to take a little bit of time overall from an r standpoint, if you can actually make an offer, which is almost too good to believe you're going to be in the realms of a 10 in regards to Roi, you're going to get some Roi, which is just incredible from a business standpoint and you know, when you have your offer, right? Because it'll be irresistible for people to say no and you'll see the sales flying in. So anyway, I hope you find this lesson valuable. I sure enjoyed recording this video for you because it's one of my favorite aspects of branding and marketing, really getting the offer and the market fit, right? So anyway, thank you so much for your time and I will see you in the next video.
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