How many times have you seen the word? Have you heard it before? How about used it?
It’s an irresistible word that gets anyone interested. I mean, how can you not love something given away for free? Even if it’s crap. You’re at least curious.
I scour the internet every day, and always come across a new software tool offering a “free” trial or a “free” package. The latest for me is Monday.com.
With a free trial offer, the first thought that popped into my head was to try it. I didn’t care if it’s something random. It’s free — so what did I have to lose?
Let’s not lose sight of what it is though. It’s an offer. And a damn good one.
It’s not the main offering. It’s not their most efficient product. It’s probably even the 3rd or 4th best tool on the market that does what it’s supposed to.
But, they have an attractive offer to grab a prospect. And they have a business that is turning over revenue every day.
So what is an offer, really?
An offer is a ‘contractual agreement’ where one person invites the other to start an economic relationship. It’s based on mutual promises where one person agrees to do ‘x’ and the other agrees to provide ‘y’ in return.
If the invitee doesn’t accept the ‘offer’, then there’s no relationship or contract.
Sure. It’s simple, but not easy. Providing a good offer means communicating something of value to your prospect, in a way that is naturally accepted.
And once it’s accepted, you must be able to fulfil it.
Copyblogger shares some great information about creating an offer. You can take a read of the elements that make an offer a ‘no-brainer.’
1. Make your offer risk-free.
Relax your prospect’s anxiety. Provide them with some form of reassurance about their decision. Be it social proof or a strong refund. The more you have of one, the less you can have of the other. But the true benefit turns to magic when you add both.
2. Keep it unique.
Make your offer different from your competition. If it’s something new or unique to you, you’ll be in a much better position to capture attention and guide them to YES!
3. Make sure it’s valuable.
It has to be worth something to your buyer. If it’s not worth enough to them, then you’ve wasted some valuable time and effort crafting it. The benefits should be immediately evident.
4. Add some urgency.
People are driven by limitations and scarcity. Use that to your advantage. Provide them with a reason to buy now, rather than later. The longer they take, the less they are willing or motivated to buy.
How many times have you made a compelling offer to your potential buyers?
Business owners often wonder why their business isn’t generating attention or revenue online or at the storefront. It’s not just about getting people to walk in or land on a website. It generally comes down to the offer and the evidence surrounding that offer.
I’ll give you a simple and personal example.
In 2019, I worked with a Canadian fitness client who wanted to grow their online booking for classes and training sessions. Here’s what I found after doing some digging.
- They had never really marketed an offer before.
- They were constantly “present,” pumping out content online.
- They were very passive in their approach to gain customers.
- They didn’t have a valid offer for clients.
- They lacked social proof or didn’t get any from their past customers.
- They were losing faith in their online presence.
- They were wasting their time and money on a market they thought was their ideal market.
They were working hard and getting little in return to show for it. They had no offer and nothing to back it up.
My proposed solution.
We came together to strategize a compelling offer: a free 6-week training program if you book in the next 48 hours.
We created some barriers to entry for less-serious applicants who wanted to take advantage of the offer.
Of course, this offer wasn’t initially feasible.
We structured the offer in a way that it would be valuable for both the audience and the owner.
The offer included an initial deposit of $250. The deposit would be returned in full if the customer didn’t enjoy the program or didn’t find it valuable. If they did, the deposit would go toward their next month’s full registration.
The result: a gain of 25 new bookings for the 6-week program. 73% of which remained after the program was finished.
Don’t be afraid to try new offers and solutions for your business. It may take some level of risk but if you are able to solidify your customer offer in an honest and attractive way, you’re one step closer to growing a healthy and sustainable business.