Here is How To Make an Offer Without Sounding Ridiculous
To make sales you need to give offers and for your offers to convert they certainly have to make sense.
Have you ever seen an offer and you go “what was this person thinking?”
I have been there a couple of times. I always conclude they had good intentions but they failed to understand how things like this work.
I came across training in digital marketing. I was captivated by the services that would be taught and was already anticipating the next step of action. But as I got to the pricing, I was disappointed. The convener of the training wrote, “investment; 30k however Earlybird; 3,000”
So this guy wants to teach me something that is valued at 30k but if I pay 3k, he would teach it to me anyway. Does that even make any sense? If indeed it’s worth 30k, why give it out for 3k? I didn’t bother to ask him. I just carried myself away from his page and not looking back like Lot’s wife.
Every day I wake up to one offer or the other. Someone is always trying to sell something these days. Since we discovered the power of digital products it has become so easy to push it out for people to buy. Unlike physical product which largely has a definite price, digital products/services have none.
Since there are no standard prices for a digital product, each vendor determines their price and they do so by weighing the value, which is largely dependent on them as against the product itself.
For instance, if you wanted to purchase the 2020 model of Mercedes-AMG CLS 63, there is a standard price it goes for, regardless of what part of the world you are in. This is made possible because you can see the vehicle, you can test drive it and the features clearly reveal the value.
However, with digital products, how do you determine the value? Who can see it and attest to the value? The truth is digital product is a reflection of the seller. A person who has amassed a large following of people who are aware of the value s/he provides, like his personality and trust s/he, would be willing to pay a high fee to get their product, unlike a newbie who is just starting out with no real fan base.
Even though the product of the new champ may be better than that of the older guy, the perceived value of the latter would always determine buyer decision.
Since digital products can’t be seen nor its value truly measured, the ball is therefore in the court of the creator. He/she does within their ability to ensure the buyer recognize the value they bring to the table and why they should be patronized. However, the mistake some people make is when it comes to making an offer.
I believe that is exactly why you’re here right now. Making an offer is needed to make sales but you want to be tactical in your approach. Some people just assume buyers don’t think. In fact, they forget that they are also buyers themselves. The fastest way to convert a person into a paying client is to first think like the person.
You probably have crafted numerous offers. So I won’t be teaching anything you are not aware of but just before you send out that sales offer, ensure you’re not doing this too.
Nothing of immense value is sold cheap. Don’t kid yourself.
If it is truly valuable like you make it seem, then the price you attach to it should be a reflection of that value in its totality. Doing things like this will hurt you more than you think it’s helping you.
"This is valued at 10k but only giving it today for 1k"
You need to stop using words like these in your offer. Put yourself in the buyer’s shoes. If someone told you, you can buy Mercedes-AMG CLS 63 today only for 100k will you buy it? Your answer is as good as mine. No one will go that low for a car of such value.
Most times we do this because we feel the need to do a discount or giveaway. Or maybe we are just scared of being rejected for the price we are asking. But it’s better to be declined than to sound stupid in the process.
Let me share an expo with you. In case you’re faced with this dilemma then this hack is for you. You should inculcate it into your sale offer and pricing.
If the "original" price of your digital product or service is 10k for instance, your logical discount shouldn’t be less than 50%
The moment you go below that, you appear unreal. Who in his/her right senses will go below 50% for a valuable product?
When crafting your sales pitch.
Ask yourself what price do you want to ask? then divide it by 50%. Let that percent run for a period. To trigger fast action, remove 10% from that initial 50% but for only a limited number of purchases for a shorter period.
For instance, If I was to sell a course that's valued at N25k, I will give a discount of 15k for the first 10people to pay before a certain time. Then add, for fast action takers, they get to pay 10k in the next five hours.
My offer then becomes
5hours after the offer goes live = 10k
24hrs after= 15k
After that full price of 25k
That's a more realistic figure. You can replicate this for your own goal. The idea is to sound intelligent when crafting a sales pitch as much as you trigger emotions. Always think like the customer.
If someone told you the offer you're giving, will you take it? If you won't, then change that offer immediately. Stop kidding yourself by thinking you're doing us. You’re merely shooting yourself in the foot.
Giving unrealistic offers would only jeopardize your brand by creating a perception of either you don’t know the value of what you’re offering or it isn’t valuable after all. You don’t want that for your business.
Thanks for your time. If you feel attacked by this, that's my goal.
Change for the better
While at it. Do well to join my newsletter subscribers. New letters to be sent thrice a week. Hit the subscribe button, if you haven’t done so already. More topics like this will be discussed.
To your continuous growth.
James Iroro
Director, InkGenius Consult