Creating products and programs that do not sell well are very discouraging to a passionate entrepreneur. It's time to look at the offer you are making when your audience is not buying.
Few things are more discouraging to a passionate entrepreneur than creating products and programs that don’t sell well.
It’s hard not to take it personally,
which can bring up feelings of doubt, hurt, disappointment and even embarrassment. But for the savvy, “I’m gonna make it happen” business owner, there’s no such thing as failure – there’s only feedback.
When the feedback you get is an audience that’s not buying, it’s time to take a look at the offer you’re making.
There are two levels to creating a compelling offer. I want to share some of the tips from my Passion for Profit coaching program on what you can do in the development stage to ensure that you’re creating an offer your audience won’t be able to resist. (Then, next time in Part 2 we’ll look at how to present the offer in the most desirable light.)
Here are four clear-cut and simple tips you can use to be certain you’re putting your time and energy into offers that will get snapped up!
Irresistible Offer Tip #1 – Make Sure It’s a Really Desirable Topic
It’s tempting to create a product or program focused on something you know your audience needs. My advice – don’t do it. People are notorious for not buying what they
need, but instead spending their money on what they
want. I call this the broccoli vs. ice cream syndrome.
When in doubt about whether the topic you’re considering is ice cream or broccoli, ask your audience. Pick up the phone, send out an email, put together a survey. You’ll be surprised at how happy they are to steer you in the right direction.
Irresistible Offer Tip #2 – Give It a Mouth-Watering Title
Titles (like headlines and subject lines) serve an absolutely crucial role in your sales and marketing - they capture your audience’s attention. The goal, of course, is for your title to create a powerful incentive for your potential client to want to buy. So it has to reach out and grab them and motivate them into action.
So spend some time on crafting a really delicious title for your product, program, event, workshop, ebook or home study course. Some tips for a great title: it’s specific, it is conversational rather than salesy, it’s curiosity-provoking, it highlights benefits and results rather than features, it’s not overly clever or cute.
I usually recommend to my clients they spend at least as much time on the title as they do on the content itself. Yes, it’s
that important!
Irresistible Offer Tip #3 – Add On a Tempting and Relevant Bonus
For me, the key word here is “relevant.” Adding a bonus (or two or three) can certainly increase the appeal of your package. But too often, I see folks throwing on things that are totally unrelated to the main offer. The point of a bonus is to give that extra nudge that tips people off the fence. If I’m considering your business building program, I’m not likely to be swayed by a bonus e-book on organic recipes or an audio about feng shui. (Not that those aren’t interesting and valuable subjects in the right context.)
The best bonus directly supports the results offered by the main package component. Ask yourself: Would this [whatever the bonus is] clearly add to the value of what I’m getting? If the answer is no, head back to the drawing board.
Irresistible Offer Tip #4 – Determine the Value Before You Set the Price
Price is often the first thing business owners want to figure out when they’re creating a new product, program or event. But as I counsel my clients, it’s usually the last phase of your program-development process.
Here’s why – it’s hard to determine a fair price until you’re clear on what is being offered, both in terms of “deliverables” and results. Secondly, other factors can come into play as you determine the “magic number.” There are times when it makes strategic sense to price a program on the low end. For example, if it’s a new –and untried- offering (it then becomes paid learning), or so you can draw more people into it and have a bigger pool for your upsell offer.
Tie Your Offers Up with a Red Ribbon
Your special brand of transformation is important in helping your clients solve their current challenges. The content of what you offer is always showcased by the “wrapping” you give it. When you think strategically and creatively about your topic, title, bonuses and pricing, you can create a “pretty package” that’s easy for them to say ‘yes’ to.
