Alex Hormozi, author of $100M Offers, penned a now famous line that revolutionized the way we should think about business.
“Make an offer so good, people feel stupid saying no”
This powerful, but oh so simple, statement encapsulates the essence of capturing new business for small enterprises.
In today's competitive market, it is crucial for small businesses to create irresistible offers that not only grab the attention of potential customers but also make them feel compelled to say yes.
By crafting an offer that provides exceptional value, solves a pressing problem, or fulfills a deep desire, small businesses can effectively engage their target audience and increase their chances of conversion.
The key lies in understanding the needs and wants of the customers, tailoring the offer accordingly, and delivering it with a persuasive message that resonates with their emotions.
When customers are presented with an offer so compelling that they perceive it as a missed opportunity to improve their lives or fulfill a crucial need, the decision to say yes becomes natural, and the chances of converting new business soar.
An example could look something like this - A commercial landscaping company, ABC Landscaping, wants to expand into a new city. Let’s say they head west to Scottsdale, Arizona. But, they’re unsure how to break ground in the most effective way possible.
Let’s try this strategy - ABC Landscaping can identify several angles for compelling brand positioning. Let’s say they hone in on water conservation as a priority. As they enter the market, not only are they presenting the past work they’ve done, they’re also presenting a cost/benefit analysis.
A couple of potential offers:
Hook: Stop letting your neighbor have a better yard than you.
Guarantee: If we can't make your lawn more green than your neighbors in 90 days we will pay your water bill until it is.
Hook: The make-people-think-your-lawn-is-a-golf-course summer sale.
Guarantee: Your lawn will look like the fairways at TPC Scottsdale and your water bill will go down by at least 10% or your next month of service is free.
That’s it. Simple, affordable, and effective.
The landscaping business doesn’t have to blow their marketing budget in one spend and we get paid for producing real results.
It’s a win-win for all involved.
I want you to think about the core offer your business makes right now. How compelling is it? What incentives does your audience have to take action? How is it better than your competition? These questions can help your team breakdown the offer into pieces for review, upgrading, or replacement.
By segmenting your offering into its various elements, you can not only test your offer, but refine it as well. Think of your offering like a race car. Teams need to be able to put different tires on it, adjust the balance, and reduce drag in order to create a winning machine. The same is true for your sales offering. Knowing which combination of the hook, guarantee, and delivery is how you can win more clients with less effort.
First, we would suggest you and your team brush up on resources like The $100 Million Dollar Offer to further understand the process of deconstructing and then rebuilding an offer so good, people feel stupid saying no.
Second, aligning your team around consistent goals and messaging is critical. If the team is to achieve a target, they need to see it first. Having your team’s input on the pieces of the offer will help them believe that their work matters, increasing their engagement and input.
Thirdly, test your messaging. Don’t be afraid to fail. In fact, Thomas Watson of IBM said, “If you want to succeed, double your failure rate.” Failure is the best teacher. It shows us what we’ve done wrong and how we can improve. Failure is never fun, but it is important to your overall growth and understanding how to craft an effective offer.