“I’m going to make him an offer that he can’t refuse.” is one of the most famous lines in cinematic history, and whether you’re a fan of The Godfather or not, it’s one you’re bound to be familiar with. It’s also a line that perfectly encapsulates one of the most compelling marketing tools of the modern era – the irresistible offer. And while the context may be slightly different, the underlying meaning is still the same – an offer so appealing, as a customer you have no choice but to accept it.
Over the years, the irresistible offer has taken many forms – from Domino’s famously offering free pizza for deliveries taking longer than 20 minutes, to store discounts, sales, vouchers, loyalty rewards and so on. These days the sheer volume of offers bombarding customers makes it difficult to sort the wheat from the chaff – to find an offer that truly is irresistible, and stands out against the white noise of less rewarding offers and marketing gimmicks. Which begs the question, does the irresistible offer even exist anymore, and does it still have meaning and value in a world saturated with social media and instant gratification?
The quick answer is yes – because as long as people have desires, those desires will always need to be met. Where the challenge lies is in presenting the offer to customers in a way that fully engages them, recognises their need, creates a meaningful connection between consumer and brand, and ultimately satisfies their desires. The key to the irresistible offer is value – and the more you can add, the more your customers will be drawn to your product or service accordingly.
It’s this concept of value that I have been exploring and working with in recent months, and it’s what has motivated me to devise my own business model for the irresistible offer – one that makes customers an offer they can’t refuse:
1. What do you offer?
Before you can market your product or service to your customers in an appealing way, you first need to understand what it is about your product or service that makes it stand out from the crowd. In marketing, this is known as the Unique Selling Proposition, or USP – the one single feature or benefit that differentiates it from its competitors, and creates a need in customers that no other product or service can satisfy. Make your USP the foundation of your offer, and your customers won’t be able to resist.
2. What’s in it for me?
It’s the question that every customer asks when faced with an offer, and yet it’s the one that so many business owners neglect to answer. If an offer isn’t adding value to a customer’s life, through savings in time or money, certain benefits it offers, or even a relationship it creates; it will be ignored, forgotten or declined. In its simplest form, a good offer needs to be about ensuring that customers get their money’s worth – and if you can demonstrate the tangible benefits and real value inherent in your offer, your customers are sure to find it irresistible.
3. How much?
Cost – it’s at the heart of every offer, and can often mean the difference between its success and failure. Pricing your product or service correctly can often be a difficult balancing act – too low, and people’s perception is one of inferior quality or service; too high, and it may be beyond the reach of many people’s budgets. The solution? Allowing your customers to see the intrinsic value of your offer – value beyond the price point itself. Once customers have a real sense of the value your business can add, the actual cost becomes less of a concern. Because at the end of the day, your customers aren’t paying for a product or service – they’re paying for the way in which it can transform their lives. And the more perceived value your offer has, the more your customers will be willing to pay for it.
4. Why should I trust you?
It’s a good question. If you’re setting out to create an irresistible offer, one incorporating the USPs of your product or service, one that offers the customer real value, and one that clearly demonstrates its worth, it doesn’t necessarily follow that a customer would be automatically attracted to it. That’s because there’s still one element missing from the equation – trust.
In Stephen R. Covey’s book, The Speed of Trust, he identifies trust as the basis of the new global economy – an ingredient essential to the high performance of any successful organisation, and, by extension, your irresistible offer. And the quickest way to establish a meaningful bond between you and your consumers is through transparency, communication and authenticity. By building relationships and gaining rapport with your customers through mutual trust, understanding and respect, your offer will not only help you achieve results, it will help you build something far more valuable – brand loyalty. And if your customer knows, connects, and is loyal to your brand, any offer that demonstrates you have their best interests at heart will instantly become an irresistible one.
Ultimately, the essence of the irresistible offer can be distilled down to one word – value. Value in terms of your product itself, in what it can bring to the life of your customer, in how it can support your pricing structure, and in the bond it can create between you, your brand and your target audience. It’s what I strive for in my own business – adding value – and it’s what can make the difference to yours as well. No more gimmicks, no more marketing tricks, no more illusions – just the power of value, in real, profitable action.