How to Design an Offer People Want to Buy
First, a disclaimer. These aren’t actually “secrets”. Many of these best practices on product and offer design are widely discussed in startup accelerators and in academic circles. But they don’t get talked about a lot among small business owners. Part of it is because there is a lot more academic interest (and money) associated with businesses that are funded by outside investors. But the vast majority of the businesses in the U.S. (and elsewhere) look a lot more like yours. But just because your business is small, it doesn’t mean that the ideas and concepts are any less valuable or achievable.
Secret 1: Talk to your customers.
The best way to start a business or launch an offer is to talk to your customers (or the people you want to be your customers). Don’t guess what they want – you’ll just waste time, money, and energy. Ask them directly. Ask them how they are using similar products, what they would like to see done differently, what frustrates them, and what interests them about your business area.
Secret 2: Everyone is NOT your customer.
I’m not saying you have to niche down so far there are only 6 people in your market. What I am saying is there is a group of people that want/need your product the most. Start there.
Secret 3: Spend more time on product development.
A lot of entrepreneurs pour all their energy into promotion (social media, email marketing, advertising, funnels, etc.) before they’ve done a deep dive on whether their product is something their customer wants at a price they’re willing to pay. Flip that around. Do the product/pricing part first and the results from the promotion will be much more rewarding.
Secret 4: Base your prices on your revenue goals.
Don’t set your prices based on how much you think people will pay. There are only two ways to increase your revenue. Raise your prices and/or sell more stuff. You have 100% control over your prices.
Secret 5: Know the answers to these 3 questions…
1) What problem are you solving? 2) Who are you solving it for? 3) Why does it matter to them? I’ll rephrase that last part for emphasis. Why does your customer care about solving the problem? Which leads me to…
Secret 6: Solve a poison ivy problem.
Whatever you’re selling, it’s going to be easier if you build your business around a poison ivy problem. It has to bother your customer so often and so much that they are actively looking for a solution. Otherwise, it’s much harder to get people to hand over their credit cards.
Secret 7: Your competition is probably a hack.
Your competition isn’t what that other company is doing. Your competition is whatever your customer is doing to solve the problem now. Figure out how your solution does it better.
Secret 8: Be remarkably different.
Your brand is not your logo. It is the feeling people have about your company or product. There are so many ways you can influence this experience and make it delightful. Don’t leave this part out – it magnitizes customers to you and it keeps them coming back.
So What Do You Do With This Information?
I’m not saying that you’re going to be able to take action on all of these secrets at once. But if you’re serious about building a sustainable business with predictable and consistent revenue, working through this list will result in an offer with a solid foundation. And if you haven’t talked to your customers (or the people you want to be your customers) yet, start there. Use these secrets to help guide your conversations. And design your business around what you learn.
If you’re feeling lost when it comes to setting your prices, The Pricing Tool Kit has a pricing calculator that can help.
If you’re desiging your FIRST offer, check out my free Ultimate Guide to Offer Creation.
Got questions? I’m ready for you at questions [@] laurazavelson.com
