Offer
What Is An Offer?
An offer is a conditional proposal or deal made by a buyer or seller to purchase or sell a resource. Offers are typically legally binding, which means they can serve as insurance for the deal being made.
In other words, an offer can also be defined as the act of offering a product or service for sale to a consumer or bidding on something to purchase it, in which case the bid is your offer.
Offers are crucial in the business world. And they also come in many types - each with a different set of rules and requirements suited for other purposes or deals.
For instance, some offers may come with an interest rate, and others might be more flexible in their approach.
Let’s take a look at different types of offers and how you can create a good one.
Types of Business-to-Consumer Offers
Now, the most common types of business offers are those that brands create for potential customers.
Here are some examples of B2C offers:
- Buy one, get one free
- Competitions or giveaways
- Free delivery
- Gift vouchers
- Discounts such as 10% off a certain product
- Loyalty cards or points
- Free workshops
- Student discounts
- Free trials before you purchase
- Cash-back
- Package deals
- And many more!
How to Create A Value Offer?
One of the most important things you can do in business is learning how to make a value offer and secure a great deal with potential clients.
A value proposition depicts why a customer should buy or use your product and defines the value they will receive in return. It’s usually brief and generic. Adding a value proposition to your product or service can be incredibly impactful in the early phases of the buying process.
Ultimately, the test of a great brand is to create original and unique value that’s unparalleled in the marketplace otherwise. It’s how you prove to customers that your business is the one worth investing money in. For these reasons, you must know how to create a value offer.
So, here are some things to keep in mind.
1. Give Proof of Value
There’s no point in trying to say that you’re better than someone else without any actual proof - because anyone could say the same. So, to establish your place in the market and convince potential customers of your value, always give evidence of it.
One way to do this is to show testimonials of your previous clients on your website. Another way is to add credibility to your mission statement or brand purpose by citing credible resources such as case studies and scientific research.
The more valuable your offer is perceived to be, the more impact it’ll have.
2. Provide Deep Insights
You already know what problems your customers face. To make an offer they can’t refuse, you must first learn to connect and empathize with them. Whether you do this through marketing campaigns or free digital content is up to you, but the point is to establish yourself as an industry leader.
3. Create A Sense of Urgency
You may have the best value offer in the market, but it’s less likely to urge people to engage with it if you don’t create a sense of urgency around it. So, a great marketing tactic is to develop urgent values.
For instance, you may offer a discount but make it valid only for a limited and short period, motivating potential customers to take action as soon as they can.
4. Show Them the Way!
Advertising how your brand is better than competitors is a fundamental step to showing value. But to lead people to accept your offer, you also have to pave a clear pathway for them.
Once people connect with your product through an actionable plan - a few easy steps they can take - they’ll be more likely to act on it. For instance, if you’re hosting a giveaway on a social media profile, then be sure to list out the exact steps to what an individual needs to do to enter or participate.
Key Takeaway
Overall, there are various types of offers in the business world, and each can be set to achieve a unique end goal. Varying price requirements and rules mean that different offers can be used for different situations. B2C offers are a common marketing practice and include deals such as gift cards and loyalty coupons.
And what’s more, making a value offer is an integral part of the marketing process for any type of business - which is why it’s crucial you know how to offer real value to people.