Are you exceptionally good at marketing but still not able to get the desired sales?
Are you good at ads, content, have a good product/service but still not able to make the cut?
It’s because your offer sucks. Plain & simple.
Customers don’t give a damn about your business. They only care about what’s in it for them. They care about achieving a particular result with your product/service. Thus, if your offer isn’t positioned correctly, it won’t appeal to them despite your marketing efforts.
Here, the key decider is your core product and the value it offers to your customers. What you offer matters and stand ahead of your attractive marketing campaigns. If your offer is not as expected or desired by the target audience, it cannot generate enough sales and profit margins.
Here are Seven Ingredients that will help you craft a winning offer & crank up those sales.
Offering free trials is one of the winning digital marketing strategies to grab the attention of your target market and to capitalise on the leads you receive.
Free trials can be offered for either for a limited period or of a limited quantity. However, you need to keep in mind that free trials can be effective when you are sure about the quality of your product or service.
Free trials create a perception that your brand is reliable and trustworthy. When you offer it the customers, you are giving an option to the customers to compare and know a little about what you offer and then buy your core products based on the quality of their experience from using free trials.
Free trial is in fact a path craved towards your core product. When people get accustomed with using your free trial, it becomes a routine in their minds and eventually create a necessity in their minds to buy your core products or services.
For instance as in below image, Amazon Prime recently offers 30-day Free Trial for FREE two day shipping for the holidays. Once the free trial period is over, Amazon strategizes its marketing in such a way that Amazon Prime is available for just $99/year. Here high value content is offered initially to convince the customers and lower the barrier to entry.
As per the above figure, we can see HubSpot offers free 14-Day trial period for its new users to give the experience of how Marketing Hub professionals can easily manage their marketing campaigns, drive leads and revenue.
Here, their marketing strategy mainly focuses on delivering a good quality experience initially to get customers, which will ultimately create a better brand image in their minds. After the free trial period, if the user is satisfied, customers will automatically purchase the product/services. Hence, the company can easily convert prospects to loyal fans.
Offering discounts is one of the most commonly used marketing strategies to attract the prospects for your products or services. Discounts give high value proposition to the customers. In a way, discount is a tried & tested way to attract new customers, especially if you’re in ecommerce.
The marketing tactics of offering discounts on the price or quantity is to turn the undecided customers to buy products or services. This strategy will be far more effective when the discount period is limited.
For instance, in the above example of Zomato, “Zomato No Cooking Sunday” was offered to customers at 50% and the offer was valid only for one day. This high value discount offer was provided to customers only for a limited period (one day) in order to create an urgency to buy.
As you can see in the above figure, Flipkart’s “Big Diwali Sale” is another discounted pricing strategy adopted to give high value proposition to the customers. They offer high discounts and offers on all products on the festive seasons to grab the attention of customers and make them click and buy the products. Since the offer is provided only for a limited period of 5 days (21st-25th Oct), it creates an urgency to make customers feel they shouldn’t miss such amazing offers on products.
Going premium subscription is a type of pricing strategy that helps in evaluating customer behaviour in your sales funnel. Most companies offer premium subscription after a certain period of free trial facility offered to the customers. With premium, your free offer period ends and enters a stage of upgrade the plan wherein every user has to pay upfront fees before accessing the services.
In general, premium works in the following situations:
- When the free trial offer could enhance customer experience and contributed to high customer demands for your core products/services
- If you have a strong brand and established trust with users, they will be willing to pay premium price and continue your services.
- If your niche has less competition so that people don’t have any other option to avail the same service without paying the premium.
- If your business has high value content to offer within the premium package so that you can maintain the customer base on a long run.
As seen in the above image, Grammarly offers “upgrades to Premium in order to avail add –on services on critical grammar and spelling checks and vocabulary enhancement suggestions. These exclusive services are not offered in the free membership.
In this marketing strategy, the company plans to give additional features and benefits to the users through premium membership for their existing users which are available only when they subscribe to premium membership. This is also a kind of marketing tactic to enhance their brand value and to retain customers who are looking for stronger writing skills.
Bonus is a limited promotional offer provided by companies as a sales promotion technique of providing the buyer an extra quantity of a product or service at the usual price.
You can offer a bonus as an additional benefit to the customers along with your core products. The main intention of offering a bonus is to enhance your brand value and make customers feel that they get additional value and quality for the price they pay.
For instance, at Digitechniks (above image), we provide exclusive bonuses for our target audiences in the form of previous batch recordings, Lifetime Refresher Course and Lifetime access to training, 3 months implementation support and 3 hrs consultation with us.
We believe in delivering exceptional value to all our customers. You too can adopt this bonus strategy as well to scale up your business.
In the current digital marketplace that is constantly evolving, customer payment experience online has been a crucial factor for your revenue generation. Going forward, the technical challenges to facilitate online and mobile payments will accelerate.
It prompts many businessmen to constantly improve the payment system to effectively accommodate the needs and wants of your customers. An enhanced payment system is another valuable offer you can make to multitude your business benefits.
A poor online payment experience will result in immediate drop off by customers even if they are already inside your sales funnel and nearing the final purchase stage. It can also result in losing customer trust and they may not further go through to the check out process due to dilemmas in the payment gateways or process. Here, you lose a customer as the end result.
Hence, if you are looking to differentiate yourself in this hypercompetitive and dynamic online marketplace, you have to create a frictionless payment experience via online systems.
If you look at the above example for Amazon.in Payment system, you can see they offer various online payment facilities like EMIs, COD, Net banking, Debit and Credit card options as per the convenience of the customers. These multiple payment options will improve the user experience and ensure they will not leave the payment page. (due to not having their desired payment option)
Guarantee is the purchase protection or price protection provided by the companies whereby customers will be able to avail refunds on the products or services bought.
Offering guarantee is a psychological move by companies to create an impression in customer minds that the final risk of buying the product/service is transferred to the seller.
As an online or offline company, you can offer Guarantee to your products. This trust building offer will ultimately enhance your business goodwill.
With the rapid expansion of online industries in different sectors, you have to gain better competitive edge through trust building and craft valuable offers like replacement policy, money back guarantee, etc.
When you look at the above image, Flipkart online sellers offer types of Guarantees like “Brand Warranty of 1 year available”, “10 days replacement policy” for the product as a selling strategy. As soon as the customer sees this, they get convinced to buy the product as they are provided the option of replacement within a limited time and given one year brand warranty.
This strategy will work well when you are a new brand.
Urgency messages on your site are a great way to increase your sales conversion rates. It’s another psychological move of increasing buying urgency and persuading your visitors to make the purchase. Urgencies can be of three types: time limiter, quantity limiter, price limiter.
Some of the examples of urgency strategy include Big Billion day of Amazon.in, creating urgency only till stocks lasts, discounts only for today and so on.
Like in the above image, you can add urgency elements on your site/landing page in order to boost your conversions and increase sales.
Now you know the real game changing factors which help to create an offer that sells like Hot Cakes!
All you need to do is to implement these strategies at the right time and right stage in your sales funnel for improved results. Well, if you are confused on where and when to apply these most effective digital marketing strategies for your business, then talk to us.
We at, Digitechniks helps you to develop and implement the most ideal and personalised digital marketing strategies based on several factors like your target market aspirations, budget, business goals and current industry competition etc.