Business Secrets Podcast Episode 33: Converting Offers

Business Secrets Podcast Episode 33: Converting Offers

This is a transcript from the Business Secrets Podcast With Robert Kanaat. Click here to view and subscribe on iTunes

Hello, and welcome to another episode of Business Secrets. My name is Robert Kanaat – founder of wanderlustworker.com, the premier online destination for all things inspirational and transformational.

Today what I wanted to talk to you guys about are converting offers. You know just as much as the next person does, that any business needs a converting offer to survive. You need to be able to understand that you spend a dollar, and you can get out two dollars or three dollars or five dollars or ten dollars – or whatever it is.
Your offer needs to convert. If your offer isn’t converting, then you don’t have a business. You could have a product or a service or some information that you’re selling, but if you don’t have a converting offer, you have nothing.

I think that the thing that – a long time ago, what I struggled with when it came to marketing, was understanding and wrapping my mind around converting offers. I never really geeked out about doing advertising and building custom audiences and using retargeting and dropping pixels. If any of this sounds foreign to you – don’t worry, it’s okay. It’s kind of what I have been geeking out about.

Before any of that comes, you need to set up the offer. What makes an offer convert? Well it should be irresistible. An irresistible offer is something that’s too good to pass up. If you are selling a product or a service or some information, you have to figure out a way where you can create an irresistible offer.

I talked about urgency and scarcity in a podcast episode not that long ago. But at the end of the day, the offer has to be an irresistible offer. Yes, you can use urgency and scarcity and other psychological tactics to get people to buy from you. But at the end of the day, the offer should be irresistible. It should deliver a ton of value, it should be so good that nobody wants to pass it up. Like your prospects should not want to pass up this offer.

How do you go about creating a converting offer, and how do you go about building an irresistible offer – that somebody sees, and they’re like, “Wow, I would be stupid not to get this?” To do that, you have to ask yourself – what can you do to deliver so much value in an offer that your prospects really would be dumb to pass it up. I know that sounds weird, but I’m serious. How much value can you deliver in an offer, where it’s so irresistible that like they just don’t want to give it up?

I’m not talking about rock bottom prices. I’m talking about making an irresistible offer. Doesn’t matter how expensive that offer is. If you know that what you do delivers serious value that people will 10x or 100x their results on what they pay you, then by all means charge ten, twenty, thirty thousand, a hundred thousand dollars. Because you know that what you offer gets results.

If you’re selling a product or service or information, whatever you’re selling it doesn’t really matter. You have to build a converting offer. To build a converting offer, you have to ensure that the offer’s irresistible.

One thing you have to make sure is that whatever it is that you’re selling, it gets results. Don’t try to build product services or information that are only meant to line your pocket, because you’re just going to fail. You’re going to get bad reviews, you’re going to get people complaining, people wanting their money back. Yes, you will get a small subset of people that just don’t ask for a refund or who don’t complain, but the ones that do are going to completely ruin your business.

Your converting offer, your irresistible offer has to deliver real value. It’s got to be something that works. It’s got to be something that’s valuable. Make sure – these are jut business fundamentals, and I know I’m probably telling you something that you already know – but I’m saying it anyways. Just make sure that whatever it is that you’re selling, is a real value in it. Doesn’t matter how much it costs, it just has to matter that it gets results, there is real value there. It’s not just intended to enrich your pockets.

To build the converting offer, you really have to look at that. You have to look at the fundamentals of what it is you’re offering, what it is that you’re selling – and making sure that there’s real value there. It’s not just building a great product or service that delivers real value. That product or service has to be built to deliver value to your audience.

Who is your demographic? Who’s your customer? If you don’t know your customer, that’s a big mistake. You have to know your customer down to like – literally like where they hang out, what they do in their spare time. The better you know your customer, the easier you can target them. What Facebook groups are they a part of? What pages are they interested in? What people do they follow?

These are important things, so you can figure out your ideal customer. Who the target is. If you’re already selling something and you’ve sold a good deal of it, who are the buyers? Figure that out. Ask them, “Hey why did you buy this? Can you tell me more about yourself?” Offer something for free in exchange.

Once you figure out the audience, and once you have the right offer targeted to that audience, it’s so easy to build a converting offer. But figuring out those parts and pieces in the beginning – offers somewhat of a challenge. You also have to kind of be good at copy. If you’re not good at copy, you’ve got to hire somebody who’s good at copy. Because you want to write a headline that really, really sucks them in. You want to write a headline, and a sub-headline. Then you want to continue with the copy that pulls them in. That’s just so intriguing.

I’m not diving into all of those bits and pieces here, just don’t have the time. But maybe in an upcoming episode I will follow up on that. But when you build your offer and you build your landing page for that offer, there are ways to target it so that you reach the right people.

First of all, you can use something called “lookalike audiences” on Facebook. If you have the Facebook pixel installed on your website or your sales funnel, then you know who is visiting and who’s purchasing. Because you can use a purchase event. That purchase event fires off whenever somebody buys something for you. You put it on the thank you page or wherever the purchase page lands on.

You can build an audience that looks like those people that bought from you. It’s super easy, super simple. You can build a targeted ad, run five dollars or ten dollars a day. Check your results, see if that offer converts. If you’re using a lookalike audience from existing people who have bought – man, that’s just super, super simple. Super easy, super straightforward.

Building your converting offer, don’t try to be super polished as well. You don’t need to use super polished images and graphics and things like that. Be authentic, and make sure that it’s real and make sure that the results are real. If you use testimonials, that’s probably one of the biggest ways to get your offer to convert.

Testimonials on the landing page ups conversions by a significant percentage. I don’t have the percentage in front of me. I know that I’ve read a bunch of studies regarding this. You could possibly look it up and figure it out on your own. But testimonials are huge. Testimonials on the landing page – five to ten testimonials of existing customers are going to exponentiate your results. It’s going to literally take your sales through the roof.

They have to be authentic testimonials. They have to be real testimonials of people who have actually used your product or your service or information and gotten real results from it. Don’t try to put in fake testimonials as much as you might want to. Do not do it. It’s just like really not worth it. Ensure that the product delivers real value. If the product, service or information delivers real value – then you’re going to have good testimonials.

Having testimonials there is great. Having the buttons – for example, the color red and orange really stimulates buying behavior. Then also using the language – using the first person language, “Yes, I want this,” on the button. Usually often converts better than, “Click here to buy,” or something like that. It’s usually first person language works really well. “Yes, claim my free book.” Or, “Yes, I want to claim my free,” whatever it is. Or, “Yes, I want this offer.” First person usually works really well. Colors, these kinds of things are all really good.

At the end of the day you should be selling through a sales funnel, and you should be building out a really solid email sequence. Then by using software like ClickFunnels, you can target people who saw your offer and didn’t buy too, which is really cool. Maybe they went through the first step, filled out an email form. They downloaded something like a lead magnet. Like a checklist, a PDF, a cheat sheet, whatever. Then they didn’t buy, and you follow up with an email sequence – a fairly lengthy email sequence to those people, and you try to entice them to buy.

The buying doesn’t always happen on first glance. It usually takes a few touches. I’ve talked about this before. Six to eight touches before somebody buys, and 108 days on an average sales cycle. Don’t always expect to get the sale right off the bat. That’s why free plus shipping works really well. Because you’ve lowered the barrier of entry significantly.

That’s what I wanted to talk to you guys about, the converting offer. You have to really take a look at the details. You have to really dive in and be meticulous about something like this. If you don’t have a Facebook ads person – guy, girl – whatever, find somebody to help you if you’re not great at marketing. Find somebody to help you. Focus on the converting offer, because that’s the heart of your business. If you have a converting offer that converts. If you know that you spend a dollar and you make five, or you spend a dollar and make two, or a dollar fifty, whatever.

You can just scale. You can’t always scale too quickly, because certain algorithms really deter you from scaling too quickly. Actually conversions can drop when you scale too quickly. But if you scale properly, slowly enough – you can do it, and you can scale pretty infinitely. Because your audience is, right? But you have to have an offer that converts.

So that’s what I have to tell you guys today. I hope that you’ve found some value out of this. Please like, share, subscribe on iTunes. Comment, I read all the comments. Drop me an email on wanderlustworker.com. Just click on the “contact” tab. I will speak to you guys next time.