Online Marketing Education | Learn Marketing
How to Craft the Perfect Offer - and Weed Out the Bad Ones!
There are a lot of moving parts that go into creating an effective postcard campaign. Make sure you are addressing the ten elements of successful postcard design. Specifically, however, I want to address one of the most important components on the list: the offer.
It may seem counter intuitive to give your customers a price break when you are struggling with your revenue, and it may seem crazier to give them one when they are lining up to pay your normal rates, but there is more to it than meets the eye. Allow me to explain...
There are two major functions that an offer (special rate, sale, discount, etc.) plays in your marketing campaign:
In a successful marketing plan, these are your two main goals. Neglect new prospects, and your business will plateau. Ignore your current customers, and your business will see high customer turnover, and plateau – right before it drops off a cliff! Here are some tips you can use to reinforce your marketing.
Marketing to New Prospects
The offer you present to prospects will be different from what you offer to your customers. It needs to have the following attributes:
Do your homework. Come up with something that would be considered a great value in your industry.
The prospect needs to feel as if they are getting a steal, especially if they’re trying something for the first time. Don't be afraid to offer a product or service for free. The profit you gain from a lifelong customer far outweighs the price of a free promotion.
Our results manger tracks successful offers based on industry. Here are a few examples that were great successes for my clients:
These were successful for our clients because they offered something that had a high perceived value — for free! Free is great because it has automatic value for consumers. But as long as your prospect feels they are getting a great value, it will work.
Remember! Price differs in many industries. A free massage at Benson Chiropractic is worth $260, while a free dinner at The Grotto restaurant may be worth $15, but both were successful deals because the offer was valuable within their respective industries.
Marketing to Current Customers
To tailor an offer to your customers, you need to follow the same basic principles as a new prospects offer, but with an added condition.
The offer must have:
Your customers need to know they are getting this deal as an exclusive reward for their loyalty, and because you value their business. This is not an attempt to draw them in — you've already done that!
Here are some examples of what reward offers look like:
It's important to reward your customers and continue the relationship. Even a small gesture can go a long way. Consider what you can offer and make sure your bottom line isn't taking a huge hit. If you can't offer a free product or service (e.g. free dinner), scale down your offer to something that still offers value, for example, free appetizer with any 2 entrees.
Follow these simple tips and you'll see your offer will do the work to bring in more sales and build loyalty! Remember, if you give a little, you'll get back a lot!
We track the offers that work in every industry — call one of our marketing consultants at 1(800)628-1804 to find out what's working now in your industry. Remember, our advice is always FREE!
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She has been named Tampa Bay CEO of the Year, Business Woman of the Year in Tampa Bay and has been featured on MSNBC's "Your Business." PostcardMania is an Inc. 500 and 5000 company and has won awards for creativity, best business practices and leadership. Find Joy on Google+
If you would like to interview Joy or book her as a speaker, please email firstname.lastname@example.org or call 800-628-1804 ext. 281.