How to Create a Marketing Offer That Sells Out
After you spend a great deal of money and time creating a marketing campaign, you want it to be successful. It would be ideal if enough people take advantage of your company’s great offer that it sells out. Here are some tips for creating a marketing offer that people can’t get enough of.
Understand What Customers Want
Start by understanding what customers want. Study their buying habits and what worked in the past. Host a customer focus group. Research industry trends and sales reports. It is critical that you offer customers something they really want. A discount on a poorly performing service that doesn’t get a lot of demand won’t do nearly as well as a great savings opportunity on a product that customers really love.
Give a Discount They Can’t Refuse
You want to offer a substantial savings opportunity that will make customers question whether they’ll regret not purchasing the item now. A 10% discount is rarely enough to make a difference to customers. But a 50% off deal? There’s a better chance that customers will buy the item now to save 50% off its retail price – another awesome deal like that probably won’t come down the pipeline any time soon. This is why Costco continues to sell its rotisserie chickens at $5, even though they do so at a loss. Once they get you in the store, you’re more likely to buy something else the company doesn’t take a loss on.
Put a Time Limit
The more time your customers have to use a coupon or an offer, the greater the risk they’ll forget to do it. Consider putting a time limit on when the offer expires. It shouldn’t be too far into the future, so customers will take advantage of it now before it’s too late. Depending on the method of delivery, a few days or weeks is enough time for the offer. An emailed offer can expire in as little as a few hours.
Before sending your marketing offer to your whole list, you can test out two versionsof it on a small group of email subscribers or customers to see which campaign performs better. This is called A/B testing. It can be an effective way to maximize your marketing campaign’s reach easily.
Overcome Potential Objections
Your marketing copy should always try to circumvent possible objections that customers may have. Address potential issues before they have time to form the objection. For instance, $4,000 to remove a tree sounds exorbitant – until customers realize that it includes a permit, crane and lift rental, and disposal fee.
Creating an effective marketing offer can feel overwhelming. Businesses always want to maximize their profits, but not at the expense of losing customers. By offering up something customers want at a low enough price, customers are more likely to buy.