You must base your total offer on customers and the wants and needs of the market, not on your desire as an entrepreneur. You can want what you want, but in most of the cases it is different from what your current and your potential customers want.
The total offer definition encompasses various specific types of offers, such as sell offers, initial offers, and repurchase offers, detailing the relevant legal and procedural implications associated with each type in financial contexts.
Because of that you when you construct your offer, you must start from the real desires of your customers. One important thing that you need to remember is that your offer must include your superior value. One of the biggest mistakes of entrepreneurs is to focus only on their products or services. Yes, the products and services are the part of your offer, but only the part not the total offer.
📖 Key takeaways
- Most entrepreneurs focus on their product or service and ignore their customer’s needs and wants. This leads to offers that don’t resonate with their target market, missed sales, and customer dissatisfaction. Not understanding and addressing the total offer from the customer’s perspective will damage your business growth.
- Imagine investing time and resources into a product that fails because it doesn’t meet your customers’ needs. That gap is why you need to rethink how you construct and present your offers to really engage and satisfy your customers.
- Include your main product or service and additional value elements like superior customer service, flexible payment options, and special offers. Focus on what your customers really value, and you’ll differentiate your business, improve customer satisfaction, and grow.
What is the Total Offer From the Customer’s Perspective?
The term “total offer” is derived from the Latin “offerre,” meaning “to present” or “to offer.” In English, the word “offer” means to present something for acceptance or rejection.
From the customer’s perspective, the total offer includes not just the product or service itself but all the additional value and benefits that come with it. This includes great customer service, hassle-free buying, flexible payment options, and special bonuses or promotions.
When creating your offer, you need to consider how each component adds value to your customers. For example, customers may appreciate free shipping or a satisfaction guarantee if you sell furniture online. These extras make your offer more attractive and increase the perceived value for the buyer. Each of these elements should be given careful consideration to ensure they meet the needs and expectations of your customers.
Knowing what your target market truly wants and needs is also key. This means doing your market research and listening to customer feedback. By basing your offer on what they want, not what you assume they want, you can create a more effective and relevant offer that speaks to your audience. An offer becomes binding when it is accepted unconditionally by the customer, making it crucial to present a compelling and clear proposal.
Also, you need to make your offer unique and stand out from the competition. This could be through exclusive products or services, personalized options, or a one-of-a-kind customer experience. By differentiating yourself from the competition, you can attract customers looking for something special and increase their loyalty to your brand.
And finally, don’t forget to tell your customers about your offer. This means using persuasive language in your marketing, highlighting the benefits of your offer, and making it easy for them to know how to take advantage of it. A clear message will help you communicate the value of your offer and get customers to choose you over others.
Most Interesting Elements of a Compelling Total Offer
Before you start constructing your offer, you need to identify the most interesting offer elements for your customers. These can be different things, such as free trials, discounts, bonuses, or added-value services. Seeking advice can help you pinpoint these elements more effectively. You have to know what will catch their attention and make them want to buy from you.
Let’s look at some of the most interesting offer elements:
- Free Trials – Offering a free trial of your product or service can be an effective way to attract new customers. It allows them to try out your offer without any risk and see the value it provides.
- Discounts – Everyone loves a good deal, so offering discounts can be a great way to entice customers to make a purchase. You can offer discounts for first-time buyers, loyal customers, or during holiday sales.
- Bonuses – Adding bonuses to your offer is another way to make it more appealing. This could be in the form of extra products or services included with their purchase, or even exclusive access to special content or events.
- Added-Value Services – Think about what other services you can provide that will add value to your customers’ experience. This could be anything from personalized consultations to free training sessions. These added-value services can set you apart from your competitors and show that your company truly cares about your customers.
- Limited-Time Offers – Creating a sense of urgency can motivate customers to make a purchase. By offering limited-time discounts or bonuses, you encourage them to take action before the offer expires.
How can you construct your total offer?
Your total offer must include more things that will be your superior value. Let’s see from which components you can construct your total offer:
Products and/or services.
The first component of your total offer is the products and services that you want to sell and the products and services that you give as an addition in the form of free gifts or bonuses. This is a combination of primary products and services plus subcategories as secondary products and services, such as free shipping, warranty, guarantee, logistics, and customer support.
Everything that is directly connected with the primary product that your business sells can become a part of this category. Additionally, a positive work environment is crucial for ensuring that employees can deliver the best customer support and service quality.
Superior Value
This is an additional component of your primary offer that will differentiate your business, products, and services from those of your competitors. Superior value will improve your offer in the eyes of your current and potential customers. They will give you their money for the products and services and want to know the real value of your products and services for them.
Highlighting the benefits, such as comprehensive support systems and customer’s personal development opportunities, can significantly enhance the perceived value of your offer.
Customer’s Perspective.
The last part is about customers or what they want. You will tell them what they want to know, such as what value they will get from your products and services, what problems they will solve, and so on. You must base all previous components on this component because this component is the most important in your offer. If your offer is not based on your customer’s wants and desires, then your two previous categories, such as products and superior value, will not reach their buyer interest in your business.
Providing an easy overview of these components can help customers quickly understand the total offer and its benefits.
4 Questions That All Customers Will Ask Themselves About Your Total Offering
Every customer will ask themselves 4 key questions about your products and services from the customer’s perspective:
1. What’s In It For Me? (WIIFM)
It is important for every business to know what their customers needs or desires are. Each potential or current customer, when making a buying decision, asks themselves this question. If they find something valuable or useful in your products and services, they will buy them. Your offer must include the most important benefits that they will get when they buy your products and services. An exemplary excerpt can highlight key elements of your offer, showcasing the most significant benefits tailored to different customer needs.
2. What benefits will I get in exchange for the money?
The second question that customers ask themselves is related to the price they must pay to get the benefits from your products or services. Explain the real value of your products and services to enable them to easily convert this value with the money that they will need to pay you.
3. What problems do these products and services solve for me?
This is another question that is related to the problems that they will solve with the products and services they are buying from you. If the problem is bigger for them, the bigger will be their desire for buying those products that solve such a problem. Emphasize the promise of solving the customer’s problems to build trust and reliability.
4. How does this make my life better or easier?
All products or services must improve customers’ lives. This is one of the questions that customers will ask themselves when they need to decide whether to buy. This is the compensation they will get if they accept your offering.
Think about all four questions, do market research that will give you some of the answers and include it in your offer. Then, after improvement of your total offer, you will:
- Have always great offers to your customers,
- Know your customers, and
- Develop your business in the future through your customer’s perspective.
