Let’s say you want to sell something. Maybe you’re a brand spanking new start-up with a shiny sales funnel, or maybe you’re a seasoned business that has sold lots of stuff before. But now you have something new to sell.
You don’t want to just haphazardly stick a price tag on it and throw it out there in the hopes that the market will jump on it. You want to add the offering into your sales funnel in a way that makes it a profitable product or service to sell.
Here’s how to construct your offer from the ground up.
1. DEFINE THE OFFER ITSELF
Figure out what people are actually going to buy from you. What is the product or service?
- What do your customers actually get when they buy? What don’t they get?
- What tiers do you offer? (i.e. will you offer a Silver, Gold, and Platinum version?)
- Will this product or service be combined with other new or existing products or services?
- How long does it take to make/do/deliver?
- What are your costs to develop the product?
- What is the value proposition? (i.e. WHY would someone want to buy this?)
- How is it different from competitive offerings?
2. DEFINE THE TERMS
Now you need to figure what you are going to charge and any other financial/administrative considerations.
- How much are you going to charge?
- Where is the paygate? Do they pay before delivery? After delivery? In installments? (Check out my blog post Sales funnel paygates to learn more about possible paygates in your sales funnel)
- How will you transact payment?
- How will you deliver it? What are the responsibilities that you have and what are the responsibilities that your customer has?
- What is the return policy?
- What guarantees do you offer? (Check out my blog post Give your guarantees some teeth for a great tip)
3. DEVELOP MARKETING
Now you need to figure out how it fits inside your sales funnel.
- Are you selling this offering inside your existing sales funnel (to the leads you are already generating) or will you need to create a new sales funnel?
- Why would someone buy your product or service? What need does it fulfill?
- How would they describe the problem that they need to solve?
- What is your target market’s mindset progression through the sales funnel?
- What marketing messages match each step of the contact’s progress through the sales funnel?
- How will you communicate these marketing messages? (i.e. what marketing channels will you use?)
4. INTEGRATE INTO YOUR SALES FUNNEL
Now it’s time to put all of the pieces in place.
- Complete your product or service so it is ready to ship
- Create the marketing content that you’ll need
- Deploy the content into your sales funnel
- Start marketing and selling the offering
- Pay attention to initial feedback: Are people buying? Are they not buying? Are they responding to your product or service in some way? What is your conversion rate?
- Adjust your offering or your marketing to address feedback.