What makes up an irresistible offer? It’s a marketing/sales offer that’s too good to pass up and impossible to refuse. A deal that meets your customers’ wants and needs is critical to creating an offer they can't resist.
Contrary to popular belief, you don't need a unique product to create a compelling offer. You can make an irresistible offer even with the most mundane product.
Ditch the practice of focusing on yourself. Rather, concentrate on your customers. Demonstrate how your product can take them from point A to point B.
For instance, let’s assume you provide business coaching to small business owners.
Your potential customers want to grow their business.
So, your marketing offer could be something like, "I'll help grow your business by 25% in the next 12 months with my proven system. And if you're not happy with the results, I'll give you your money back."
Of course, yes! Acknowledging that people make decisions based on emotions rather than facts is crucial to create an irresistible offer. Understanding buyer psychology can help you craft a message that speaks to your customer’s emotions. Here are 18 psychological tactics you can use to create an irresistible offer:
The link between marketing and psychology was almost non-existent in the pre-digital era. However, with the advent of psychological marketing, it has become the foundation of every successful business today.
Almost every marketing team comprises a specialized group conducting marketing psychology research.
Marketing psychology offers insight into your customers and helps you gauge buyer behavior. As such, you can easily:
Plus, marketing psychology delves into cognitive biases crucial in purchasing decisions. Applying theoretical knowledge to marketing allows smarter marketing across all channels and touchpoints.
So today, we’ll explore 18 psychology tips and see how you can implement them. Executing these strategies will also help you answer our previous question – how to create an irresistible offer?
As such, you’ll stand out in the customer-centric digital age. Plus, you’ll enhance your overall marketing strategy.
Decoy marketing is also known as the "asymmetric dominance effect." It involves presenting an offer you want your customers to choose by making other options appear inferior. This technique is highly effective.
Why? Consumers tend to make decisions based on compromises between available options.
So, by presenting a decoy, consumers feel they are getting the best deal when choosing the option you want them to. That’s why decoy marketing is standard in various industries, from food to electronics.
To successfully implement the decoy effect, you can follow these steps:
Remember: Ultimately, the goal is to make the customer perceive that the decoy product is not worth the cost compared to the most expensive option.
The Framing Effect is a cognitive bias. It affects how people perceive and interpret information based on its presentation. It targets people’s tendency to make different choices depending on how they perceive showcased facts – even if the information is identical.
In marketing, the framing effect can influence how customers perceive products or services. For example, instead of presenting a service with a 20% error rate, position it as having an 80% accuracy rate. This shift in framing accentuates the service's positive attributes, redirecting the focus from potential drawbacks.
Note: Be mindful when phrasing marketing messages or making decisions that may influence information presentation. Using proper phrasing, you can increase the perceived value of your products/services. Hence, you’ll ultimately drive more sales.
The Endowment Effect was a term coined by Richard Thaler. It means that our sense of possession increases an item’s perceived value. Now, this happens regardless of the product’s actual market value.
Illustrations of the Endowment Effect include studies showing people are reluctant to part with objects they own. It happens even when they’re offered a better deal or more money.
Overall, the Endowment Effect operates subconsciously and can be leveraged to market hedonic products.
You can better understand this effect through three psychological categories:
Here’s what each of them means:
Among the above three categories, loss aversion is frequently used to play into buyers’ psyche – when creating offers. Here’s how:
Loss aversion highlights how people are more inclined to avoid losses than to gain new things. As a marketer, you can leverage this tendency by:
The Halo Effect is yet another cognitive bias. It causes people to form general opinions based on a single aspect of a product/service. This type of heuristic thinking is helpful for quick decision-making. However, it can also lead to poor judgment.
For example, if someone is attractive, people may assume they possess other positive qualities, such as intelligence or kindness.
Relying too heavily on first impressions can result in biased decision-making. Also, it can apply to negative first impressions, known as the Horn Effect. In this case, negative qualities dominate our perception.
That being said, use the Halo Effect to persuade customers to buy a product by emphasizing a positive feature.
The Verbatim Effect is an interesting psychological phenomenon. It suggests people tend to:
And
To account for this effect in your marketing strategy, avoid lengthy texts. Instead, opt for simpler forms of communication. They can include using concise mission statements and CTA (Call-to-Action) buttons. These are easy to memorize and process quickly.
Plus, to capture attention, try highlighting key phrases in bold. Include a TOC (Table of Contents) and clear headlines for longer texts. The TOC should outline the main content of each section to help busy readers get to the point faster.
The Information-gap Theory suggests people desire more information when a topic grabs their attention. As such, content marketers and copywriters can leverage this theory to grab the audience's attention and increase conversions.
Using headlines and copy that begins with "How to" or "Learn how" and rhetorical questions can help emphasize the effect. Providing additional information on an intriguing topic can keep them engaged and eager to learn more.
The concept of scarcity can serve as a form of social proof. How? It indirectly conveys that a product or offer is popular or in high demand. As a result, it can compel people to purchase before it's too late.
As such, you can create a sense of urgency that motivates people to act quickly. It can also tap into the FOMO people experience when they feel they might miss out on something desirable.
This psychological trigger can encourage people to purchase your products. And this holds even if the scarcity element isn't present.
You can create urgency through:
For instance, check out the below example of a countdown timer:
Have you ever felt overwhelmed by the sheer number of products/services in the market? It's common for consumers to feel lost in this vast sea of options. Hence, it leads to indecisiveness. When this happens, people usually turn to their peers for advice to help them decide.
This human tendency to copy the actions of others in specific contexts is what social proof is all about. In fact, influencer marketing heavily relies on this principle. After all, people tend to follow the suggestions of those they like and trust.
Online reviews have been shown to impact 67.7% of purchasing decisions. So collect your top customers' reviews, case studies, and testimonials to leverage social proof. Next, make them easily accessible to prospects.
You can:
Plus, collaborating with social media influencers in your niche and targeting the same consumers yields excellent results. Displaying certifications and badges from industry experts demonstrates your authority in your niche.
Presenting your product or service positively can be a powerful tool for boosting consumer confidence. As such, it ends up encouraging buying decisions. In fact, consumers are more likely to make a purchase when:
Or
Conversely, framing a proposition in a negative light may lead consumers to take a risk in hopes of obtaining better odds. For instance, an insurance company may encourage clients to switch to their plan by suggesting they are wasting money with their current provider.
To make your product or service more appealing to customers, highlight its emotional benefits. Position your offer as a "no-brainer" option. Then you’ll succeed in positively influencing your customer's experience.
You can build consumer confidence by emphasizing the positive outcomes of your product or service. As such, you drive purchasing decisions.
The perception of value is paramount in making sales. The more valuable your offer seems, the more likely customers will buy. One way to increase the perceived value of your offer is through bonuses and offer stacking.
Bonuses are additional items or services that come with your main offer. They don't have to be costly or complicated. However, they should be something your customer desires or needs.
For instance, let’s assume you're marketing a course on how to start a business. Here, your bonus could be:
Value stacking, aka offer stacking, is when you include multiple products/services in a single offer. This technique helps increase your offer's perceived value. Why? It allows your customer to get more for their money.
Have you ever wondered why some offers seem irresistible while others fail to catch attention? The answer often lies in the uniqueness of the offer. By making your offer stand out, you can make it more compelling to customers. Here are a few ways to achieve this:
Making it easy for customers to say “yes” is an effective way to:
And
You can reduce friction in your offers with several simple strategies. Here are a few ways:
By following these strategies, you can effectively reduce friction and increase conversions.
You may have heard the saying, "You never get a second chance to make a first impression." It’s especially true in the world of marketing.
Research has shown that people often rely on the first information they receive when making decisions about products or services. This is known as the anchoring bias.
As a marketer, you can take advantage of this bias by presenting information in a certain way.
For example, many SaaS businesses use this technique. They present annual plans alongside monthly plans. As a result, the annual plan seems like a better deal in the long run. Other marketers may offer discounts for bulk purchases. It makes customers feel like buying more is a better deal.
The risk reversal strategy is a powerful way to eliminate the fear of purchasing in your customers. This approach removes the risk from your offer. Therefore, customers can confidently buy from you.
There are different ways to achieve this, such as:
Providing a trial period is a practical way to lower the risk of subscription-based services. With this option, customers can try out the service for a specific period before they're charged. As such, they can determine if the platform suits their needs.
A money-back guarantee is a popular way to reduce the risk for customers since it eliminates all the risks they might face. They can simply request a refund if unsatisfied with the product or service.
The need for social connection is something that we all share as human beings. Building relationships with others is essential to our sense of identity. Hence, feeling a sense of belonging to a community can be a powerful motivator.
It's so important to us that we'll even prioritize it over our basic needs for survival, like food and safety. We all want to find people who understand and accept us.
In fact, how we connect with others and the world around us dramatically impacts our purchasing decisions. Two main elements make us feel like we're part of a group:
Culture refers to a shared experience that affects how we spend our time and money. It's important to remember that age, location, or ethnicity don't always determine culture. It's a choice we make, and we can opt in or out of different cultural experiences.
We tend to act according to the groups we interact with most often, like our family, friends, and coworkers. There are two types of reference groups:
What does this mean for your business?
The foot-in-the-door strategy is a well-known compliance technique. It suggests people are more likely to comply with a more significant request once they agree to a smaller one. It’s a powerful tool for marketers.
After all, getting a "yes" from a customer can pave the way for a more extensive and expensive request.
Now, how to apply this technique in marketing? Offer your customers something small but valuable. It can include a free ebook or a trial membership.
This can make buyers feel like they've received something of value. As such, it multiplies their likelihood of complying with larger requests in the future.
Have you ever felt you needed to return a favor to a friend who's done something nice for you? According to the Reciprocity Principle, people naturally give back after receiving something. This theory is also applicable in marketing and can benefit both sides.
To encourage consumers to take a particular action, such as making a purchase or conversion, you should first do something for them. This can be done through various tactics such as:
The more generous you are with your customers and prospects, the more loyal they will be.
However, quality should always come first. Ensure your products or services meet high standards and that your value is worth the reciprocity. By following this principle, you can establish strong relationships with your customers. Plus, you can create a positive reputation for your brand.
Everyone loves a good deal, that's no secret. But creating an irresistible offer is not just about offering a low price or giving your product away for free.
It's crucial to balance price and value that works for your target market. You need to understand your audience and their pricing preferences to do this.
To create an irresistible offer, you need to find the sweet spot where your price is low enough to persuade prospects but high enough to make a profit still. Testing different prices can help you determine the best pricing strategy.
Finding the right balance between price and value is the key to creating an irresistible offer. Understanding your target market and pricing preferences can strike the right balance and attract more customers.
Try these techniques in your digital marketing strategy and see if it improves your results. Or, if you want more tips, you can contact our team at Revnew. So, what other ways have you found to make an offer irresistible? Share your thoughts in the comments below!