1. Pick a single product or service.
Focus on only one product or service – or one product or service type – at a time. This will keep your offer clear, simple, and easy to understand. This can be an area of your business you wish to grow, or old product that you need to move off the shelves.
2. Decide what you want your customers to do.
What are you looking to achieve from your offer? If it is to generate more leads, then you’ll need your customer to contact you. If it is to quickly sell old product, you’ll need your customer to come into the store and buy it. Do you want them to visit your website? Sign up for your newsletter? How long do they have to act? Be clear about your call to action, and state it clearly in your offer.
3. Dream up the biggest, best offer.
First, think of the biggest, best things you could offer your customers – regardless of cost and ability. Don’t limit yourself to a single type of offer, combine several types of offers to increase value. Offer a premium, plus a guarantee, with a package offer. Then take a look at what you’ve created, and make the necessary changes so it is realistic.
4. Run the numbers.
Finally, make sure the offer will leave you with some profit – or at least allow you to break even. You don’t want to publish an outrageous offer that will generate a tremendous number of leads, but leave you broke. Remember that each customer has an acquisition cost, as well as a lifetime value. The amount of their first purchase may allow you to break even, but the amount of their subsequent purchases may make you a lovely profit.