An offer too good to resist is what your business needs. Just make sure marketing makes it look like an offer too good to accept.
An offer, in business terms, is to...
give something to someone in exchange for something else.
Example Of An Offer:
A hosting company gives you a one-year hosting solution, in exchange for your money.
An Irresistible Offer
I said that an offer is to give something to someone, in exchange for something else.
An irresistible offer, then, is...
to give something to someone that they cannot resist, in return for something else.
Example Of An Irresistible Offer:
Bluehost gives you an increadible hosting solution, starting at just $4.95 per month. Not everyone would think that this is an irresistible offer, but to us at least, it is. They have everything in hosting I need for most of our projects, they have the best prices compared to what they offer, and they are one of the most trusted hosting companies for webdevelopers and small businesses in the world. We're making thousands per day from the sites I host with them, and what does it cost us? As far as we're concerned, it's close to zero dollars. That's a pretty damn high return on investment! We've been with them for years, so I already know I can trust them. Finally, they tell us exactly what I will get - and then they deliver it. In our eyes, Bluehost really do provide us with an irresistible offer. To this day, I have not found a hosting service that maches them for our particular needs.
Incentives and Irresistible Offers
To understand how to provide an irresistible offer, you should also understand a few things about incentives in economic terms.
any factor that motivates a particular action, or counts as a reason for preferring one particular choice to the alternatives. Thus, incentives could be based on financial motivation, or non-financial motivation.
There are three types of incentives:
- Financial incentives - where material reward is expected in exchange for acting in a particular way.
- Moral incentives - where a particular choice is regarded as the right thing to do.
- Coercive incentives - where one can expect that the failure to act in a certain way will result in physical punishment.
When creating your irresistible offers, whatever they are, you should appeal to at least one of the incentives above.
Examples of the use of incentives in marketing:
- "Become a member of our daily stock newsletter for just $1 per day, and recieve advice from stock picking experts every morning right into your inbox. Now you don't even have to think to pick the winning stocks!" (Financial incentives)
- "For some children, tomorrow could be to late. Please donate today. Help us to save the homeless children of Romania!" (Moral incentives)
- "Annie's house burned to the ground today. She lost everything except here two lovely children. Thank God she had installed a fire ladder just days earlier. Be safe: Call us today and we'll install it for you for only $399 (you'll save $450 on your household insurance!)" (Coercive incentives, financial incentives)
It's Not About Hype
If your offer is truly irresistible, then you don't have to hype it. Simply state what you have to offer, and that's that. Anyone that find your offer irresistible will buy it, no matter what.
The Lamborghini Murciélago would seem irresistible to most people... but is it? Well, to most people it's not irresistible at all considering it has got a price tag of $273,000 attatched to it. Obviously, the price itself is part of the offer. Sell the same car for $27,300, and we'd bet most people who could afford it would find it highly irresistible.
Irresistible offers is not just the marketing pitch. It's the whole package. It's the price and the product or service. It's the experience with the product afterwards. It's everything related to the product. It's you and your business (the one that provides the offer).
If you get your audience to say "I want this, no matter what!" then you've done a good job at marketing your product. However, if one month later, or one year later your customers can say they still think it was a great offer, it most likely was an irresistible offer.
Irresistible Offers Radiate Credibility
You may already have a great offer, and you may have spread the word to your market. However, if people don't trust you then they most likely won't buy from you even if you do have a really great offer.
You see, if people don't trust you (or your offer), then it's not irresistible. Just when then feel they can trust you, or more precisely, if they feel like your offer is credible, then you will have a greater chance at making a sale.
If I told you I had a brand new Lamborghini Murciélago for sale, special price today only... $5,000. Would you buy it? Probably not... it's obviously an offer that is too good to be true. However, what if someone you really trusted told you this, and if you knew it was part of a marketing stunt... and the car stood right in front of you... If you found the offer to be believable, well then it definitly would have been an offer that you could not resist.
I challange you to come up with your own irresistible offers. You may already have a product or service, or you have an idea for a product or service. In other words, you may have an offer already. How could you turn that offer into an irresistible offer?
The essence of an irresisitble offer is that what your customers gets holds a much higher value to them than what they must give.
For most people, paying $273,000 for a Lamborghini Murciélago wouldn't be worth it, even though a lot of people could get one if they borrowed money from the bank. However, to some people, mostly wealthy people, the $273,000 Lamborghini Murciélago would be irresistible.
For us, cheap quality hosting from Bluehost is truly irresistible...
What is irresistible to you might not be irresistible to someone else.
Your job is to create an offer that is irresistible to your market segment.