2024 Guide: Crafting the Perfect Offer for Lead Generation Success
Jan 6, 2024
How to Craft The Perfect Offer For Lead Generation (in 2024)
What is an offer? Your offer is essentially what your clients derive as the highest outcome from your service. An offer represents the core value proposition of your business, encompassing the goods and services you provide, along with the terms that govern the agreement. It serves as the vital link that can either make customers eagerly seek your offerings or dismiss them entirely. This may be increased efficiency, time back in their calendar, 2 sizes down in their jeans or more patients in their waiting room, it could be any number of things, these are just a few examples.
Consider this: if you were to send 10,000 emails asking people to "give you their money for my accounting software," the response rate would likely be incredibly underwhelming.
However, if you were to email 100 CFO’s, expressing your ability “to reduce their time managing pesky spreadsheets by 90% by implementing a custom-tailored Quickbooks solution”, you would likely receive an almost 10% response rate. It's like presenting them with an irresistible opportunity. It’s clear as day as to what you’re offering and below I’ll be sharing what you need to include to form value statements like you’re seeing above.
The first element of crafting an irresistible offer is often overlooked but is easily one of the most important. Put yourself in the shoes of your ideal client and ask yourself:
What are you going to give me? and by when? What do I have to give up to get this?
Having a quantifiable result helps your ideal client visualize their return more easily.
Here's some examples to illustrate:
“We help social media marketing agencies get 8-12 qualified meetings per month with their dream clients on a pay-per-meeting basis”
“We help plumbers get to the first page of Google, driving thousands of new leads to your site, with our unique premium backlinking strategies”
“We help CIO’s save time, money, and energy by providing you with best–in-class insights from vetted experts and previous F500 CIO’s”
An offer is essentially the value proposition that entices potential customers to engage with your business, making it a critical factor in determining their interest and willingness to work with you.
Positioning your Offer
Assuming you already have a product or service to sell to the market, let's break down how to effectively shape whatever you’re selling into an enticing offer statement.
There are six key components you need to consider:
Quantifiable End Result: What are you going to give me and by when? Clearly define the specific outcome or result that your offering delivers. For instance, generating 8-12 qualified leads every month, first page of Google, 2.5% customer conversion rate, lose 30 pounds in 90 days.
Niche: Identify the target audience or market segment that benefits from your offering. In this case, Social Media Marketing Agencies. If you’re just getting started, niche, then niche down again. Ie Social Media Marketing Agencies in New York. Single income-households in Atlanta. 25-40 year old males with $150k gross income.
Mechanism: Highlight the unique approach or methodology through which you achieve the desired result. Think buzzwords like blueprint, launch plan, strategy, deployment, system…For example, omni-channel outreach system, social media content syndication, revenue cycle management protocol.
One note about mechanism, whatever you brand yourself as people will automatically bucket you into this category so be careful. I highly recommend engaging your existing customers first to understand the value they derive out of your service before presenting them with what you think you offer. For example, April Dunford in “Obviously Awesome! How to nail product positioning” discusses a story about a legal eDiscovery solution that they were positioning to lawyers as such. But, what they ultimately uncovered after interviewing 10 customers was the biggest value proposition was the secure email exchange within the platform. That was it, just safe and secure email. After rebranding with the offer focused around secured email exchange for legal entities they 10x’d revenue in 2 years and exited shortly after.
Timeline: Specify the timeframe in which your offering produces results. In this scenario, it could be on a monthly basis, 90 day sprint, 1-year.
Risk Reversal: We want to use a risk reversal to put the customers mind at ease and increase the perceived likelihood of achievement for them, while having a safe fallback in case we don’t. The earlier you are into your business with less social proof, the more you’ll need to include a risk reversal to show good faith in a potential partnership. For instance, if the desired result is not achieved, customers won't be required to make payment (pay-per-call). You only pay for the meetings we book you. If you don’t book a new client you don’t pay. If we don’t 2x your ROI, you don’t pay.
Lead Magnet - give them a reason to want to speak with you. A lead magnet, just as it sounds, is a method you use to lure in the prospect by giving them something valuable. People are busy, they don’t want to just give anyone and everyone their time. By offering up free samples of your work, or offering a free audit, or maybe even a free lead list, you’re giving the prospect something they can easily access, while also giving them a chance to see your work first hand. If you send me your top 3 competitors, I’ll put together a keyword takedown strategy for competitive keywords they’re outranking you on.
By incorporating these components into your offer statement, you can create a compelling and persuasive message that clearly communicates the value of your offering to your target audience.
Here are a couple of template examples that incorporate these components:
Niche + Result + Time + Mechanism + Risk Reversal: "We help Health & Wellness Ecom brands generate 25% more revenue in under 90 days using TikTok ads. If we don't deliver on our promise, we'll gladly refund your investment."
Niche + Result + Mechanism: "We help medical practices reduce overhead expenses by 20%+ with our medical RCM software.”
Try It Yourself: “We recently helped {{niche}} generate/achieve {{end result}} in just {{timeframe}} by implementing {{unique mechanism}}.”
How to apply an offer:
Once you’ve come to the point where you have a clear value proposition and offer statement on what you’re providing your ideal customer. It’s time to apply that offer and test to see what angle works best and what audience your offer resonates the most with. You’ll want to incorporate the offer statement into your market materials, such as emails, social media and website copy. You can use A/B testing to try different formulations of the same statement to see what works best. I highly recommend utilizing cold email marketing to see what works best as that’s a quicker feedback loop and will allow you to scale quicker to your winning solution. Tools like Google Optimize will also help test website variants.
Once we’ve started applying our offer and testing it we’ll want to measure the success of each offer and scale into it accordingly.
How to test an offer:
The effectiveness of offer statements can be measured through various metrics, such as:
Conversion Rate: The percentage of prospects who take the desired action (e.g., booking a meeting) after encountering the offer.
Response Rate: Particularly in email or direct marketing campaigns, how many recipients respond to the offer.
Customer Acquisition Cost (CAC): How much it costs to acquire a new customer using the offer vs the alternative. You’ll need to know exactly where each customer came from in your funnel
Return on Investment (ROI): The financial return generated compared to the cost of the marketing campaign featuring the offer.
Customer Feedback: Qualitative feedback from customers about the clarity and attractiveness of the offer. This goes back to our example with April Dunford and the secure email service.
A/B Testing Results: Comparing different versions of the offer statement to see which performs better, try tools like salesloft/Lemlist for email sending or Google Optimize to test landing pages.
Once you’ve written, reached out and tested your offer, it’s all about leaning into it and scaling it across all mediums. You want to ultimately be the de facto leader for whatever your offer is so, when people encounter a problem, they immediately default to your solution and offer.
Hope you found value out of this content. If you’d like more information or resources like this, be sure to join our Skool community: https://www.skool.com/optimal-outreach-3859