It’s time to ask that important question, ‘So, do we have a deal.’
But instead, your stomach starts to stir with anxiety, your hands get sweaty, you begin to question your sense of self-worth (or lack thereof) and, before you know it, not only have you failed to close the sale, you’ve inadvertently demonstrated your lack of belief in the offer (through your hesitation) and started to actually talk down the product in some misguided attempt to demonstrate that you are, indeed, not a salesperson!
For most business professionals, ‘selling’ is a dirty word. You probably have felt the same way at one time or another. But this type of attitude and entrepreneurship just don’t mix. So how do you reverse this negatively charged emotion? The answer is simple.
Make your clients make the investment.
Studies have shown that when someone actually invests time, energy and money (of course) into a purchase, they not only value the purchase more highly but they’re also more likely to generate benefits as a result of using it, compared with those who acquired it as a free gift or as an impulse purchase.
In other words, make them work for it and you’ll give them a vested interest in making it work for themselves.
I see far too many individuals giving their valuable time away and for nothing in return (largely to avoid that final moment in the sales cycle). So to make things easier for you, this week I’ve compiled a list of my top five can’t-fail offers to boost your sales.
But first you must understand the following.
The 4-Step Formula for Creating a Compelling Offer
To sell effectively you must include four critical components in an offer to dramatically increase your chances of it being taken up:
- You must have an offer on the table for them to choose
- There must be ample information for them to make a buying decision
- It must be highly compelling
- It must be easy to respond to
To generate a direct response online or offline from your marketing and sales activities, you must include all of the above. Without this combination your sales will be average at best – and as you know, there is always room for improvement in every sales funnel.
The question remains, how do you create compelling offers that will make hearts, minds and wallets melt with sheer pleasure?
1. Deluxe Version
Create a second version of the same product/service, but with enhanced features and benefits for slightly more money. This not only steps them through a purchase ascension model (i.e. cheap to more expensive gradually), it also increases the average dollar amount spent per sale.
2. 10x the Value
When you discount you run the risk of devaluing your products and services and the benefits attached to them. To help get your prospects over the line without discounting, offer them ten times the value of the product/service that you’re selling.
For example: product ‘x’ retails for $49.95. Package up “$499.50 worth” of extra and ‘highly’ relevant bonus materials with it – downloads, video tutorials, etc. – and it becomes substantially more attractive and compelling overall.
Not only that, but it also justifies the price (i.e. “If I spend $49.95 I get $500 worth of extra benefits! Now that’s something I can justify to my wife!”)
3. Limited Offer / Scarcity
There is a lot to be said for using the technique of scarcity in your marketing and sales process. If a product/service is readily available, it doesn’t have the added need or incentive for being purchased immediately.
Even if you are pitching a proposal, put a time limit on how long the proposal is valid. This pushes the decision-making process forward and drives a more immediate response. It also saves you waiting by the phone with anticipation for a response as you are driving the process, not the prospect.
4. Money Back Guarantee
Every aspect of the sales process should be geared to removing the risk associated with making a purchase through your business. The money back guarantee achieves this incredibly well. When you truly believe in what you are selling, this style of offer is a no-brainer.
A money back guarantee also sends a signal of high quality to prospective customers and as only a small percentage of individuals take it up, it is a fantastic way to get your cash flow turning over immediately and your database brimming at the seams.
5. Enrollment Period
A popular offer used by many event promoters is the enrollment period. They offer either a discount or special bonus for a limited time only. This window of opportunity builds need and once again creates scarcity, thereby driving individuals to purchase immediately.
Set a date for a product or service launch and drive individuals to purchase within that set time frame. This has two added benefits:
Benefit 1: It creates buzz around your business and offering.
Benefit 2: You build need through anticipation of the launch.
This is a technique commonly used by musicians when releasing a new album or single. This is because the music charts work on a seven day period. They literally only have seven days of significant promotion to get it to the top of the charts.
This is Just the Beginning…
There are many steps to making your products and services highly seductive to your prospective markets — to take away the burden of selling from you. Chip away at them, one at a time, and you will find it easier and easier to ask that question, ‘Do we have deal.’
In fact, do it well and you’ll find that it will become your prospect asking that hard question for you. (And you will say, ‘Yes’.)
Ben Angel is the author of the new controversial book, Sleeping Your Way to The Top in Business – The Ultimate Guide to Attracting & Seducing More Customers. Go to www.benangel.com.au to grab your copy today.
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