Why You Shouldn’t Scratch That Product That Doesn’t Sell – Just Yet
When people sell products and services online, a lot of the time they get it wrong when it comes to understanding what it is they are actually selling.
Many people think that if they are selling a product, that’s what they are selling…..the actual product.
But this is actually completely incorrect.
Sure the product is a piece of the puzzle, but it’s not the entire puzzle.
What you are actually selling is your offer….
What Is An Offer?
Your offer consists of a bunch of factors where at the end, the person is buying the complete package…not just the product. In fact, in some cases, your offer might be so amazing that the person might not even be buying just to get your product!
Sorry if I’m confusing you – but i’ll explain this a bit later.
So, what does an offer consist of?
Generally, there are 5 components of an offer:
- First –> YOU – If you see many successful sales letters and videos, the marketer introduces themselves. People are buying YOU. Many times, people buy from marketers right away and they don’t even read the sales copy. They just see who is selling the product and that’s all they need to hit the buy button. This is pretty powerful.
- The Product / Service – Sure, the product is an important part of the offer. The product or service is the ultimate solution to the problem the visitor is experiencing. When it comes to your sales copy, what helps sell the product is how you are selling the product. What are you promising? What are your bullet points? What are you saying your product can do for people? Don’t rely on the product to sell itself.
- Your Guarantees / Warranties / Refund Policy – Guarantees and warranties are part of the offer believe it or not. People are going to be hesitant about buying if they don’t feel secure in their purchase.
- Bonuses / Product Add-Ons – Remember a bit earlier when I said that people might buy but not because they only want the product? Bonuses are the reason for that. Sometimes bonuses are so good that the person wants the bonus more than they want the actual product. This happens all the time! The product is almost a secondary factor in the buying decision! It might sound crazy but this is the norm these days. If you want to have a competing product in your marketplace, have awesome bonuses. Bonuses, no matter what you are selling are an important component to your offers.
- Price – the last component is the price. Price should never be the deciding factor on why someone buys, but it’s certainly a factor.
If you’ve done your job correctly throughout your sales copy, by the time the visitor gets down to the price, they should feel like they are getting an amazing deal. If they don’t feel like they are getting an amazing deal, then your offer is wrong and your product is not going to sell as well as you had hoped.
This means that there is something lacking in one of your offer components. If the person doesn’t buy that means that you didn’t do a good job at one or many of the components of your offer.
If someone doesn’t buy because of the price objection, this could also mean your price justification is not good enough. This means that you have not conveyed the value with everything that is comprised of your offer. Is the value of everything you are offering well over the price you are asking for?
Do you see how each one of these components plays a part in the offer as a whole?
Many times people undersell or scratch great products because they aren’t converting into sales. But most of the time it’s not the product that’s not selling, it’s the offer that’s not selling.
Take a closer look at your offers…
When you start looking at selling offers and not products, then your outcome will start changing for the better. Make your offers great and the sales will start rolling in.
By: Debbie Drum