Every business begins with a deal. And a successful business begins with something more than that – a Killer Deal. No, it’s not the age old `you give me this; I give you that’ offer. But a whirlwind, that puts your customer into a buying frenzy.
Ever wished you could create such a whirlwind? Well, nothing wrong with that. Businessmen who wouldn’t openly or secretly dream about customers thronging in front of their shops, online or offline, is a rarity. In fact it’s the first thing you should do; if you ever want to prosper in your business. Because, creating an utterly crazy feeling akin to ‘If I Don’t Get it, I’m Done for’ about your product/service in the minds of your customers means everything in business.
Want to know why? Then, you must know what a killer deal is all about!
It’s that Irresistible Offer:
A killer deal is that Irresistible Offer, you make in the process of your brand building. Well, let’s put more clarity to it.
Here’s a classic killer deal!
(Note: Well, it’s not the actual ad. The company had to remove it, as they failed to keep their promise).
With this single killer deal that appeared in 1960, Tom Monaghan could take the brand that had just one store in the beginning to a $4 billion chain of stores. (You might be wondering if a killer deal is just another offer. But no! We’ll get into that.)
Well, a killer deal is something that alone can create the mass desire…the buying frenzy… the state of being oversubscribed.
It made millions prefer (many still do) Dominos over numerous other brands and local delivery centers just because they could have a fresh hot pizza so fast when they are hungry.
A Killer Deal is Your Brand Identity
To quote Mark Joyner, author of The Irresistible Offer, “it’s an identity building offer central to the product or service”. And, is conceived right in the beginning of your business idea.
The power of a killer deal or the irresistible offer is such that it instantly annihilates the buying objections of your target customer and makes him grab your product. It’s that which is central to your product or service and make you stand apart (It’s not the Unique Selling Proposition of your product either).
Have a look at this killer thought from Jio.
This is how the Reliance telecom brand Jio made its first introduction in the Indian market. Why, isn’t it just another offer?
No. In fact this ad could have been just another offer, if Jio made this ad much later after its launch. But this is what customers identify Jio with. And it’s what made the brand irresistible.
If you could believe Moody’s Investors Services, a global rating agency, the Reliance Jio had made a whopping 100 million customers within just six months of its launching. Well, if Jio wants to carry this ‘Free’ appeal or not, they have so far made the 4G phone users believe that it’s the most affordable data connection they can have in India.
It Creates a Compelling Urge
What makes an Irresistible Offer so irresistible is it creates a compelling urge in the target audience, which no promising USP, or Special Offers or Bonuses can do. The reason? A good USP may make the customer wonder about the product.
Eg: De Beers. Diamonds are forever.
Does the above the ad create any urge in you? No, right? The USP gave an excellent positioning for De Beers, but it is unable to create `the mass desire’, so that people will go crazy on the diamond overnight.
Special offers and bonuses are seen by today’s customer as the tools of sentimental manipulation. He/she disregards them as mere marketing trickery, unless and until it is supported by believability. An Irresistible Offer is not a onetime special; it has the power to define your business.
An Irresistible Offer is inlaid in your Unique Concept:
The popularity of this irresistible offer of Old Spice was reinforced again, when they made a commercial based on the offer ‘smell like a man’ in 2010. The ad went viral overnight; and evidently the sales. The idea works both as an irresistible offer for men (you buy old spice, you smell like a man) and a unique concept (there’s nothing that makes you smell like a man).
Well, How would You Know it is a Killer Deal?
A killer deal answers these four questions of your target customer:
> What are you selling?
> How much does it cost?
> Why should I believe you?
> What’s in it for me? (Source: Mark Joyner)
Take the Jio as an example: The answers will be these:
Ø What are you selling? – High Speed Data
Ø How much does it cost? – It’s free for the first three months!
Ø Why should I believe you? – It’s being endorsed by Sharukh Khan! (If he trusts Jio, why can’t you?)
Ø What’s in it for me? – It’s FREE HIGH SPEED data with free voice calls for life!
An Irresistible Offer is best suited for today’s highly informed customer, just because you are not manipulating your customer. In other words, a killer deal turns out to be the effective and ethical way of selling your product or service, because it only manipulates your offer. In fact you’re giving a twist to your uninteresting USP here.
So, What are the Elements that Make a Killer Deal?
1) A killer deal promises you High Return on Investment.
2) It has a touchstone statement that answers all the four big questions of your customer.
3) It focuses on believability. (Source: Mark Joyner)
Here’s what you should do to create a Killer Deal of your own:
Your offer should be in resonance with what are you trying sell and to whom. It’s imperative that you should do thorough market research, consumer analysis and competitor studies before you create a Killer Offer. Center your offer on active seeker and induce a sense of belonging in your customers. Address your customer’s comfort level, because they make their decisions based on emotions. Alleviate their pain and satisfy a deep desire. Give credible proof, because you customer always looks for logic. Make your offer such that your customer will think it’s worth more than what he is investing. Give them a sure guarantee, make them buy!
Voila! Now you have the secret formula to create a highly rewarding killer deal! Go ahead and make your customers hungry for more!