Today, let’s just get tactical when it comes to straight makin’ money. I assume you like money, right? 😉
When I work with people on their business strategy or with the tech setup of their site in the early phases, I sometimes see too much focus on the FORMAT of the thing they want to sell.
In essence, they’re sorta guessing what people might want. They might have gotten some feedback from friends on an idea. And they just proceed with that.
But, what is it that people actually buy?
Or… what will they more readily buy, and pay the most money for?
First, it takes knowing exactly what your target market wants. What is the outcome they want?
Don’t be vague about it. Get granular. Name all the facets of their ideal outcome. What it will look like. What impacts it will have on their life. How it will make them feel. You should get so detailed about really understanding their ideal outcome that you can plant yourself right in their brainpan and imagine being them, in that moment. Visualize it.
NOTE: We’ve got an Empathy Map inside the Vault that can help you get into their head. Check it out.
OK, good. Next…
How likely are they to actually GET to that ideal outcome?
See, that’s the real rub. A lot of people imagine their dream outcomes, but then “reality” sets in and they wonder how realistic it really is.
Your job, with the very structure of your offer and your product, is to set it up to make that dream outcome likely for them. To alleviate their doubts they’ll actually get there. To have an answer for every “gotcha” they can dream up about why they won’t get the result.
So, sit down and make a list. Make a list of every difficulty your target market would have. Every excuse they might make. Anything that might stop them.
If you know your market well, you can probably make this list lickety split. 🙂
Then, what you do with that list is that you devise SOME aspect of your offer that is your answer to that bullet point.
Hope you get this. You’re literally designing your product or service to fit the exact offer you need to handle every “gotcha” they can throw at you.
You’re designing your offer such that it will get them to their ideal outcome, but you’re also alleviating anything that could get in their way.
See how you’re reverse engineering things?
Start with your customer and their dream scenario and you work it back from there, to your offer, to your product.
Compare that to what most people do…. create some thing they think is cool, then turn around and try to convince people to buy it and figure out what to charge. That’s a harder way to go.
OK, next factor….
How FAST can you make it for them? How can you get them to their ideal outcome as quickly as possible? As instantly as possible?
As awesome as online courses are, this is the factor they usually trip up on. Because, a course means WORK. 🤪 It introduces more time. And it takes a good marketer to get over that hump with an online course. But, it can be done and people do it all the time.
This is why people always pay more for “done for you” work. Because, it means the outcome is all but guaranteed AND it will happen much, much faster than if they were to try doing it themselves.
OK, the last factor….
Is getting to their dream outcome going to be easy? How can you make it easier for them?
Of course, the nature of some outcomes just isn’t easy. But, you can design your offers to make it as easy as possible. To require as little effort as possible on the part of your customer.
OK. So, the makings of a good offer (and one that can sell for higher price points) is really simple, when you get down to the basics.
- Nail their ideal outcome. The higher the value of that ideal outcome, the higher the price of your offer.
- Do everything in your power to increase the likelihood they’ll achieve it.
- Do everything in your power to decrease the length of time it will take them.
- Do everything in your power to decrease the amount of effort required.
This is so “human” that a lot of people think, “Well, duh!”. 😇 And that’s because it really is so core to all of us. We want what we want…. right now and for little effort. That’s just… human.
But, YOUR job, regardless of the niche you’re in, is that for anything you are selling, you sit down and brainstorm your offer(s) with this in mind.
You may even adjust and reframe aspects of what you’re selling just to improve these 4 points.
Then you increase your conversion rates and generate more sales.