During recent teaching I've done for the prestigious Churchill Apprenticeship Programme and the Genius Series Interviews I have focused on the "big stuff"…
… revealing the quickest, easiest and yet most powerful ways to get loads more customers, higher conversions, and make far greater profits in any business.
Naturally there was quite a bit of discussion about the concept of…
The Irresistible Offer
So today I want to give you a brief but very powerful example of one that I shared with my recent students.
Back home in Australia, a few hours down south from where I grew up in Sydney I believe, there's a used car salesman who's offer is a perfect example of irresistible.
I was told about this by a friend and fellow copywriter Brett McFall and it really is something.
Listen to this…
When you buy a used car from him he let's you drive it for a week before making up your mind!
Yep, you heard it right. You can pick a car and take it home for a week with absolutely no risk whatsoever.
If you don't like it after using it for a week… you just took it back to him!
How good is that? How many dealers do you think would let you drive a car to your hearts content for a week before making a final decision?
Now, I could be wrong on the time period. It may even be more but it was at least a week which is pretty amazing.
Of course you had paid for the car so the deal was done even though he was genuinely leaving you with no-risk in having done so.
As a marketer it's important to recognize the psychology of doing that from the perspective of preventing more people coming back than only those who were genuinely not happy.
But it doesn't change the fact he was removing all the risk for his customers whatever way you looked at it.
Not only could you return the car and get a new one if you wanted, but you could even get a full refund!
So not only was he removing any risk of the customer getting a car they weren't 100% happy with, he wasn't even locking the customer in to having to buy from him one way or another – another objection the customer may have had to stop them going through with the sale.
I could go into a lot more detail but I'll leave it up to you to consider just how powerful what I've just shared is.
If you analyze this offer, especially by comparing it with any other offer in that industry it really is just too good to refuse for the prospect.
And that of course leads one to the million dollar question…
Wouldn't he lose money doing that sort of thing?
In short… NO!
- How many more people do you think buy from him instead of another dealer because they have no risk?
- How many people would rave and tell their friends and family about this guy to advertise for him by word of mouth?
- How many of these people would go back and buy from him again and again over a lifetime?
The answer a LOT!
Even if someone did come back after buying a car and change it for another from him…
Even if they added some wear and tear in testing the car out…
And even if some people did come back and actually take a full refund…
All of this is a mere fraction in terms of cost compared to the extra money he'd make from more customers and sales as a result of such an incredible offer.
So with that in mind how can you do something amazing like this to construct irresistible offers in your own business?
The fact is that most consumers are good people and are just interested in getting the best deal they can – not screwing you over.
So take away all the reasons they could have to shop with someone else by presenting them with an offer to good to refuse and they'll heap money on you like never before.
P.S A little extra tip for knowing you have an irresistable offer – it should hurt!
If you're not thinking twice about whether you're going TOO FAR then you're offer isn't irresistible just yet.
With these pieces of software and my iPhone I literally have my whole life in my hand wherever I go.
And just as much as I rave about the other two, Evernote may just be the best of the three in terms of just how brilliant and useful it is.
The guys over at Evernote describe their software as being 'your external brain' and quite honestly it really fits the bill.
Anything you see, think of or want to remember can be quickly and easily saved in this software and then synced to all your computers and phones.
What's more, all this data can be stored in various notebooks, tagged and geo-tagged to suit your own taste so all your information is instantly cross-searchable at any moment.
Just to give you a quick example of some of the many ways I use it…
- Storing flight, hotel and details for trips so when I'm travelling I have it all to hand
- Storing daily exercise along with schedules and routines I want to follow so I can record and monitor progress
- Storing webpages and articles I see online that I want to read later or keep on file
And that's just the first few I thought of immediately. I could give loads more. To do lists, things to get, recipes… you can store them all in one place.
But I haven't even got the best bit… the cost for all this insanely cool capability at your fingertips… nothing!
Yep, Evernote is FREE!
If you're a poweruser like me you may find you want to purchase the ridiculously low priced 'Premium Subscription' but for a lot of people this isn't necessary (even with my high usage I've only really needed the higher upload limits 2-3 months out of 2 years of daily usage).
So if you're not using it already I really suggest you go and grab Evernote right now.
Especially considering it costs nothing you've got nothing to lose in at least checking it out.
Let me know what you think.
This is going to be one of those "basic" posts that provides some very simple yet profound information that "everybody knows".
However, I'd be willing to bet at least 9 out of 10 business owners are not actively thinking about and operating off what I'm about to share.
And yet THEY ABSOLUTELY SHOULD BE… regularly during the day-to-day managing of their businesses… because these are the only ways to increase business profits.
It's truly amazing how we sometimes have to remind ourselves of the very core basics of what we do in order to quickly and easily make more more money.
I find it's often these elements – the simple base principles and not the fancy techniques – that are the keys to serious profits.
So here we go with…
The Only 3 Ways To Make More Money In Your Business
1. Increase the number of people you sell to - this is simple and just means get more people through the front door and sold to so you have a larger number of customers
2. Increase the size of each transaction - this is making more profit from each sale you make by creating higher-profit products that increase your profit-per-sale statistic
3. Increase the frequency of transactions - this is making more sales to the same person so coupled with #2 above you're continually increasing your profit-per-customer statistic
How simple is that right?
And it's very simple to keep track of how you're doing on each point.
If you just keep the statistics of "Number of customers", "Profit-per-sale" and "Profit-per-customer" you'll always know exactly where you need to improve to boost your current profits.
So let me ask you… how are you doing at each point and how can you increase them right now?
Answer those… then put your answers into action.
I guarantee you'll be taking home a lot more money as a result!
My next "Stephen Georgulis Recommended" item is another piece of software called DropBox.
My last recommendation was 1Password and you might remember me saying you can sync all your 1Password data between multiple computers/systems using another piece of software. This is it.
DropBox basically makes transferring files between computers dead simple and very efficient.
It does this by putting a folder on your computer which has a live connection to your online DropBox account.
Whenever you put a file or folder into your DropBox folder it then uploads and is available on all other systems you are logged into your DropBox account on. (In my case there's 4 computers and my iPhone!)
There's honestly just so many ways it can make your life easier that you should just check DropBox out for yourself here right now and get started using it to see it's absolute coolness.
Even at it's simplest it will literally stop you from constantly emailing yourself or moving things between computers using a USB key all day.
If you currently do this often (like I used to before discovering this great software about 2 years ago), you will find this a real godsend.
Enjoy and let me know what you think.
Came across this video of Matt Cutts discussing tag clouds yesterday.
Short, to the point and very relevant for anyone with a blog (especially Wordpress) who just has a bunch of widgets around without a real purpose for them being there.
Enjoy and let me know what you think with a comment.