In this episode, I walk you through a very simple formula for creating “WOW” promotions… either throughout the holidays or at any point during the year. Enjoy
Jeremy Reeves: Hey what is going on everybody. Jeremy Reeves here with another episode of The Sales Funnel Mastery Podcast.
And I am actually in my car right now, so I apologized if there is any audio issues, but hopefully you can hear me well.
Iâ€™m on my way home right now from a funnel day that I just had with a client and we went over something that I wanted to kind of share with everybody and that is creating a WOW Offer.
I actually just realized that you know, the kind of acronym with it, the WOW was very easy one to kind of come up with because it stands for the WHAT so like, the WHAT are you selling, the OFFER and then the WHY, right.
So the WHAT, the OFFER, and the WHY.
So just think of that as a WOW offer.
So let us start with the WHAT right, so when you are — you know, when you are coming up with you know, right now it is kind of early December. A lot of people are going to be having Christmas sales and promotions and things like that. All that kind of fun stuff, New Years. For him, he is in the health industry so you know, we have a lot going on with you know, the New Yearâ€™s resolutions and all that kind of fun stuff.
So the first thing that when you are figuring out an offer to do you know, and I created some amazing promotions for some of my past clients. I created tons and tons and tons of money for them and I am going to be doing you know, the same for him.
The first (inaudible 1:45.7) to place is you know, what, like what are you giving away?
So if you only have 1 product, the what is easy because you know, doing something with that product right.
For him, he has all kinds of stuff. He has I think like 6 or 7 different supplements. He has these meal bags which are like a whole bunch of different meal bags in different varieties and shapes and sizes and colors and all kind of stuff you know, he has yoga pants.
He is having all kinds of stuff you know.
So we sat down first to figure out the what okay and I will not go into the details about exactly what we are doing because that is you know, kind of confidential information that we went over, but the point is the first thing that I want you to think off is what, right.
What are you going to — what is the promotion going to be around essentially like what is the product or the service that the promotion is going to be about, okay.
And then once you figured that out then — and by the way, I usually go for the one the most profitability.
In case you have a bunch of products and services, go usually with the one that has the most profitability because — I apologize, it is getting loud here, I am passing at really loud truck. Hold on, okay.
So go with the one with the most profitability and the reason for that is if you are going to give a discount right, you have the most margin to play with, okay.
So if you have something that only has like a 25% margin you know, you do not really have much to play with so your offer the next part — your offer is not really going to be that sexy, okay.
So now that you pick out your what, right. We are going to go to the offer.
So when you are figuring out an offer, a lot of people get this wrong. This is the most important part of this entire process, okay.
So when you are selling a product or service, the 3 things that you need to kind of keep in mind are the traffic you know, the audience, the offer, and the copy, okay.
Now when you are doing these promotions by far the most important thing is the offer itself, alright. It is more important — I mean you already have the audience because you are doing this to your house list so your audience (inaudible 4:03.4) taken care off right.
And then the copy, if you have a great, great offer, the copy writes itself alright, much more so than you know, if you are writing like a full sales letter or something like that because this is just based 100% on the offer really you know.
You are not really selling them on everything else.
So when you are coming up with your offer, basically, you have to get creative here. This is something that really you just need to brainstorm with somebody. It is really hard to just think like, oh you know, let us just do this you know. Sometimes it is easy like if you have an information product, you can just do 50% off like that is easy you know, it is a great offer.
If you are not that lucky, sometimes a little bit harder, right.
So for him, we actually did 2 parts of an offer. So we did basically 1% off and then also we added kind of an extra thing to that. Again, I will not get into it because that is kind of what me and him went over, but we did kind of just like 2 part offer okay and then that actually led into our reason why, okay.
So going back to the offers for a sec. What you want to try to do is come up with creative ways that you can add more value okay without digging into your profitability, alright.
So that may mean one of two things. It may mean doing less of a discount, but giving them some other type of value in exchange like another bonus or more time for consultation or something like that or you can think of it in terms of if you use the offer itself as kind of a lost leader and then you have an up sell in place or you know your backend — you know your backend stats and you know that even though you might not make a lot of money on the offer itself you are going to get people who are going to buy your next product then I would also consider that as part of this whole process, okay.
So that is kind of your offer just come up with something that be creative. Do not be lazy about this. This is where you should spend like 80% of your time is actually thinking about an amazing offer that nobody else is offering that stands out, that is amazing like it is so awesome that it is like ridiculous to pass up. People would be just insane if they pass it up, alright.
So now you have who or you know, you have the audience, alright. So you have the — you know, you have the audience. You have the what, right. So you have the whatever product that you picked and now you have your offer, okay.
So now we are at the last W in the equation here and that is the why, alright. You cannot do these promotions without a reason why.
You have to have a reason why you are doing the promotion.
Again, sometimes you can get lucky and the promotion is just as simple as you are doing a Black Friday sale or you are doing a birthday sale or an anniversary or Christmas sale or whatever it is, right, but people actually respond better and they do work really well, but people actually respond also really well because you do not have to do these for just around holidays. You can do them at any time really. I teach my clients how to do this all the time.
You know, you can do a thank you sale. You can do you know, some type of like a customer anniversary right. So they bought it from you a year ago and it is 1 year anniversary. You can do the customerâ€™s birthday you know. You can do it based around different holidays. You can do it based around different — if you find the calendar with like wacky holidays on it like there is you know, National Popcorn day.
The other day actually was National Chest Day so like in bodybuilding. It was National Chest Day right.
So if you are selling like bras or something like that you know, you can do it in National Chest Day.
So look for things like that. Get creative about it and make it a fun event okay.
And then — but come up with a reason why. So for this client, we are doing a double — kind of a double promotion. So we kind of wrap that around and this is the only part (inaudible 8:28.5) we wrap that around the fact that in his office they were celebrating the two kind of biggest you know, most common holidays in the month of December which are Hanukkah and Christmas, okay and you know, of course, there are other ones, but those are like the two that — he and his staff are celebrating okay.
So you know, the whole kind of theme is wrap around hey you know, we are doing — we are having multiple holiday parties and celebrations and we thought that you should join in on the fun and you get rather than just giving you one discount (inaudible 9:02.1) giving 2 separate — it is kind of like a double promotion-type deal, right.
So that is kind of what we did you know for him, alright.
And that is pretty much all there is to it. So just think of the WOW Formula, okay.
So you are thinking of the WHAT and that is the actual like whatever the product or the services that you are going to wrap the promotion around and then you are thinking of the OFFER itself and then you are thinking of the WHY, the reason why, okay.
And if you really nail those 3, and that is all you have to nail because if you get those, the copies are going to write itself and obviously you can do you know, you can increase the results quite a bit with really, really, really solid copy, but if you really nail those, you are already 80% of the way there and then you know, the better copy you write it is just going to take the really good results that you are going to get, it is going to amplify those results and get you better results, right.
So that is it. That is all I got for today. I am actually going to be home here in a couple of minutes. So I am going to hop off here, but I hope everyone has a fantastic week and I hope you are also having fantastic month.
Again, really quick reminder, if you have not started planning for 2017, do it now. Now is the time to start planning. Do not wait until after January you know.
You want to start planning January now and next year and start getting your promotions in place so that you can hit the ground running in January rather than starting from scratch in January. Huge, huge difference in terms of your overall motivation level going in to the New Year, right.
So I hope everyone is doing well. I hope you enjoy this episode and that you share it with your friends and all that kind of good stuff and if you want to get in touch to talk about a project then just reach out at [email protected]. I will talk to you soon.