Thinking up a good deal and presenting potential customers with a compelling offer are crucial to any business succeeding, but there is more to it than simply chopping a percentage off of the purchase price.
December is the time of year when marketing budgets are stretched to their limits as shops and companies compete with each other to convince every potential customer that theirs is the best deal. The problem is that everyone is trying to do the same thing, so it takes a carefully considered and well-crafted deal for an offer to stand above the noise and be noticed by consumers.
Be Clear, Transparent, And Upfront
Arguably the most crucial aspect of an offer is earning the trust of the customer. Everyone is familiar with the phrase “too good to be true”, and people will be skeptical of a discount that is too large or a deal they feel they aren’t getting all the information about.
Be clear, concise, and compelling about any deal you offer in-store. A confused customer is one that is a single sneeze away from walking out the door, so make sure they have as much information as they could need. The best way to do this is to provide visual instructions in-store as well as training staff to assist and inform customers about said deal adequately.
Bonuses And Discounts
The fact of the matter is that any business in the world can offer a discount and there is only so low you can go before it isn’t profitable anymore. So it would help if you came up with a unique bonus to go along with the discount to make your offer more interesting than the nearest competitor. What can you offer that they can’t? Or failing that, what can you do better than they can? Often customers will be more than willing to pay more for a product if they are getting perceived value elsewhere, so this is a great way to make an offer without breaking the bank.
A great illustration of this is how e-commerce giants eBay and Shopify are offering vouchers and promo codes to drive sales. Another example is Netflix which has partnered with a variety of companies to offer a range of benefits to people who subscribe to their online video service. This technique has been adopted in the iGaming industry as well, where players can enter casino bonus codes in order to pick up bonuses such as matched bonuses and free spins.
Create Urgency For A Response
No compelling offer will be complete or as effective without a powerful call to action. Consumers, especially online, are prone to shop around for the best discount or deal. This can even be a problem if you have the best deal because they might get sidetracked at some point on their journey and forget about you altogether.
This is why it is vital to couple any deal you want to offer with a strong call to action to encourage customers to grab the deal as soon as possible. There are a variety of ways of doing this from setting a time limit on the deal or limiting the amount of stock available. There is a bit less room to be too creative here, but it is still a vital part of the process.
Guarantee Your Offer
This is often a big sticking point because no-one likes to be on the hook for a faulty product, especially if it is not their fault. But, for a deal to succeed, especially if you need it to succeed as a form of automatic sale without staff presence (such as online), you need the customer to feel at ease.
Similar to being open and transparent, this is another important way to remove the element of risk from the customer’s mind. Aside from giving the customer peace of mind, they can get their money back if something goes wrong, it also shows confidence in your products, which you should have and will help bring more eyes and potential buyers to your product.
This article How To Motivate Your Buyers: The 4 Elements Of A Compelling Offer appeared first on Entrepreneurship In A Box by Dragan Sutevski
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