$100M Offers Book Note

One of its kind. Craft a grand slam offer that no one can refuse.

If you are in a local market, just remember you aren’t going to change the value stack of your offer. You are just going to change the way it looks to the marketplace in your marketing.

What happens when offers fatigue as you market offers, you will need to create variations over time as the tastes of the market change over time. Here’s the order in which you will change things to keep lead flow consistent.

Change the creative (the images and pictures in your ads)
Change the body copy in your ads
Change the headline - the “wrapper” of your offer Free 6 Week Lean Challenge to Free 6 Week Tone Challenge Holiday Hangover
Change the monetization structure, the series of offers you give prospects, and the price points associated with them.

An alternative approach to rhyming is to use alliteration when naming your program. This is easier for most people than rhyming. Again, you do not need to rhyme or alliterate.

If you like understanding the concepts behind my chosen M-A-G-I-C formula. Each roughly translates to: Attention (M-Magnet), Discrimination (A-Avatar), Purpose (G-Goal), Timeline (I-Interval), and Method (C-Container).

Over time you can rename the offer to refresh it. This one concept will get you leads forever.

You can still use offers for a long time. But when we’re talking about years of use, not months, offers can eventually fatigue.

The goal must be that upon hearing about your offer, your ideal prospects are interested enough to take action.

Performance Models:

...Only pay me $XXX per sale/ $XXX per show
$XX per Lb Lost

Revshares:

10% of top line revenue
20% profit share
25% of revenue growth from baseline

Profit-Share:

X% of profit
X% of Gross Profit Ratchets: 10% if over X, 20% if over Y, 30% if over Z Bonuses/Triggers: I get X when Y occurs.

You must make all sales final. They’ll believe you even more if you take this position. “We are going to show you our proprietary process that we are using right now to generate leads in our business. Our funnels, ads, and metrics. We’re going to be exposing the inner workings of our business, as a result, all sales are final.” Note: strong reason why is needed here. Just make one up that sounds compelling.

Service Guarantee. What the client gets: You keep working for them free of charge until X is achieved. My Take: This is probably my personal favorite guarantee of all time. This guarantee will typically outperform a traditional 30-day money back guarantee in terms of net conversions (sales minus refunds).

This guarantee will typically outperform a traditional 30-day money back guarantee in terms of net conversions (sales minus refunds).

Outsized Refund Guarantee. What the client gets: Double or Triple their money back, or a no-strings-attached payment of $X,XXX (or another amount that’s far more than what they paid). My Take: This is for when you sell something with high margins. And this is a guarantee to add with a consumption condition.

Bigger broader guarantees work better with lower ticket B2C businesses (many people just won't bother taking the time). The higher the ticket, and the more business oriented it is, the more you want to steer towards specific guarantees. That may or may not include refunds, and may or may not have conditions.

Satisfaction/No questions asked is the highest form of guarantee. It means we could do everything right and you could still ask for your money back. As long as you know the math, you will typically make up for the refunds in spaces with higher and faster closing on the sales side. But you have to be good at fulfilling your promises. If not, steer clear.

Name your guarantee something cool If you are going to give a guarantee, spice it up. Instead of using “satisfaction” or some other “vanilla” word, describe it more strongly. Generic Example (Bad): 30 Day Money Back Satisfaction Guarantee. Creative Imagery Example #1 (Good): In 30 days, if you wouldn’t jump into shark infested waters to get our product back, we will return every dollar you paid. Creative Imagery Example #2 (Great): You’ll get our famous “Club a Baby Seal Guarantee”After 30 days of using our services, if you wouldn’t club a baby seal to stay on as a customer, you don’t have to pay a penny.

You can add conditions, but the more conditions you add, the faster a guarantee loses its teeth.

You can also stack two conditional guarantees around different (or sequential) outcomes. For example, you’ll make $10,000 by 60 days, $30,000 by 90 days as long as you do thing 1, 2, and 3. This future paces the prospect into an outcome they now believe is far more likely (since you will be deliberately spelling it out in a conditional guarantee with a timeline for achievement). Doing this shows the prospect you are serious about getting them results and convinced that they will achieve what they want.

You must come up with a creative “reason why” the sales are final. Typically, you’ll want to show a massive exposure or vulnerability on your part that a consumer could immediately understand and think “Yes, that makes sense.”

Bad Example: We will get you 20 clients guaranteed. Better example: You will get 20 clients in your first 30 days, or we give you your money back + your advertising dollars spent with us. This is a simple, but strong guarantee.

Reversing risk is an immediate way to make any offer more attractive.

The single greatest objection for any product or service being sold is...drum roll...risk.

There are a few key things to remember when offering bonuses:

Always offer them
Give them a special name that has a benefit in the title
Tell them: a) How it relates to their issue b) What it is c) How you discovered it, or what you had to do to create it d) How it will specifically improve their lives or make their experience i) Faster, easier or less effort/sacrifice (value equation)
Provide some proof (this can be a stat, a past client, or personal experience) to prove that this thing is valuable
Paint a vivid mental image of what their life will be like assuming they have already used it and are experiencing the benefits
Always ascribe a price tag to them and justify it
Tools & checklists are better than additional trainings (as the effort & time are lower with the former, so the value is higher. The value equation still reigns supreme).
They should each address a specific concern/obstacle in the prospects mind about why they can’t or won’t be successful (bonus should prove their belief incorrect)
This can also be what they would logically realize they will need next. You want to solve their next problem before they even encounter it.
The value of the bonuses should eclipse the value of the core offer. Psychologically as you continue to add offers, it continues to expand the price to value discrepancy. It also, subconsciously communicates that the core offer must be valuable because if these are the bonuses, the main thing has to be more valuable than the bonuses right? (No, but you can use this psychological bias to make your offer seem wildly compelling).
You can further enhance the value of your bonuses by adding scarcity and urgency to the bonus themselves (which takes this technique and puts it on steroids). a) Bonuses With Scarcity Version 1: Only people who sign up for XZY program will have access to my Bonus #1, 2, 3 that are never for sale or available anywhere else other than through this program. Version 2: I have 3 tickets left to my $5,000 virtual event, if you buy this program you can get one of the last 3 tickets as a bonus. b) Bonuses With Urgency Version 1: If you buy today, I will add in XYZ bonus that normally costs $1,000, for free. And I’ll do that because I want to reward action takers. c) With hope, you can see the subtle differences. The first two examples aren’t constrained by time. They state that if you buy the program you will get things you normally would not be able to. The bonus with urgency is about them buying today, and if they do not buy today, they lose those bonuses. Minor difference, but worth noting.

It increases the perception of our offer’s value by layering these bonuses one at a time.

When selling one on one, you ask for the sale first, before offering the bonuses. If they say yes, then after they have signed up, you let them know the additional bonuses they're going to get. This creates a wow experience and reinforces their decision to buy. On the other hand, if the person does not buy after the first ask, then you present a bonus that matches their perceived obstacle, then ask again. Don’t feel weird about asking again. You simply agree with the prospect, add the bonus, and ask if this consolation was “Fair enough.” People have a hard time rejecting reciprocity, so adding a bonus to accommodate, then another, then another, and people will feel almost obligated to buy from you.

Whenever trying to close a deal, never discount the main offer. It teaches your customers that your prices are negotiable (which is terrible). Adding bonuses to increase value to close the deal is far superior to cutting prices. It puts you in a position of strength and goodwill rather than weakness.

A single offer is less valuable than the same offer broken into its component parts and stacked as bonuses

Putting a new wrapper with a date on the same core service gives you urgency and novelty that will consistently outperform the “same old” campaigns.

What to do if you just started a cohort and someone wants to buy…. You have two options:
1) you can offer them a speedy personalized onboarding to get them up to speed as a “bonus” for signing up today and still get them in.
Or, my preference, 2) You can explain to them that since the next group starts in a little, they will have the advantage of having more time to review the materials, talk to their employees (for b2b products) or family members ( for b2c products). On top of that, they can have a more extended payment plan that you can only make available to them since the start date is so far out . . . an advantage that most clients do not get.

The biggest sales on a week long campaign or launch happen in the last 4 hours of the last day (up to 50-60%). That means that the last 3% of the time allotted creates 50-60% of the sales...that’s completely illogical, but also unmistakably human. So, just like a guarantee, you will make more money from the many people who decided to take action than people who actually missed out because in reality, those people were never going to buy (heck, they didn't even buy when they had their fee to the fire, so why would they without?)

The less frequently you kick off new customers, the more powerful your offer is. For example, if you only start clients two times a year, people will be very inclined to sign up, especially as the date approaches. Even starting new clients every other week can confer this urgency nudge.

Scarcity is a function of quantity. Urgency is a function of time.

You can create scarcity by also capping your service level and saying that if they leave than can never return. This type of scarcity makes people think extra hard about leaving.

If you don’t hate money, sell a very limited supply of 1-on-1 access. You can do that via any of the mediums described in “Delivery Cube.”

Have less spots available than you think you can sell . . . so that when you want to do it again in the future, everyone will remember you sold out . . . fast. This is a compounding strategy that increases in effectiveness over time.

When using the tactic to limit available slot, you must also let everyone know that you sold out. Once a month seems to be the sweet spot for most of the companies that I know who do this with regularity.

Humans are far more motivated to take action to hoard a scarce resource than they are to act on something that could help them.

There are two components to the value: first, how rare the sources are; second, the actual value being provided. The value and rarity compound to create some truly breathtaking profits.

If you satisfy all the demand, you will kill your golden goose, and not know where your next meal will come from.

When you “pull the trigger too early,” each successive instance we promote, we sell even fewer.

Increase demand and decrease perceived supply so that you can sell the same products for more money than you otherwise could, and in higher volumes than you otherwise would (over a longer time horizon).

The “perfect profit combination” is lots of demand, and very little supply, or perceived supply.

Scarcity, urgency, bonuses, and guarantees were not the only persuasion tools being employed to get egregious prices at the fundraiser. They also used commitment and consistency, status, peer pressure, goodwill, celebrity endorsements, competition, etc.

People want what they can’t have. People want what other people want. People want things only a select few have access to.

If you aren’t sure what’s high value, go through the value equation and ask yourself which of these things will this person:

Financially Value cause them to believe they will be likely to succeed
Make them feel like they can do it with much less effort and sacrifice
Help them accomplish their goal and see the result they want with far less time investment.

You must resolve every obstacle a buyer believes they will have to convert the highest amount of people. That’s not to say that if you don't, you won’t sell people. Not at all. But you won't sell as many people as you otherwise could have. And that’s the goal, to sell the most people, for the highest possible price, with the highest possible margin.

Whenever you are building a business, you have a continuum between ease of fulfillment and ease of sales.

People believe that if an expert does it, then they will be more likely to achieve the outcome than if they try on their own.

Many will always be willing to pay (price) for the (value) of speed. So if you find yourself in a market competing against free, double down on speed.

Always try and incorporate short-term, immediate wins for a client. Be creative. They just need to know they are on the right path and that they made the right decision trusting you and your business.

We try and tie as many of these as possible into any service we offer. We want clients to have a big emotional win early (as close as possible to their purchase). This gives them the emotional buy in and the momentum to “see it through” to their ultimate goal.