3 Product Benefits Every Irresistible Offer Should Have
Use this premium brand strategy to craft an offer that makes impact.
Every business aims to create an offer people can’t refuse. This is much easier said than done. When we have a framework, the process becomes much simpler.
In this article, I’ll share a strategy used by some of the most successful premium brands in the world to create compelling offers.
Here’s what you will learn:
- The difference between a brand offer and a product offer
- Why “value” itself doesn’t sell and what to focus on instead
- 3 types of benefits every offer should have
Brand Offer vs. Product Offer
To communicate your value and make sales, you will need to make an offer. To do that, we must first understand the different offers we need to create and the purpose of each.
A brand offer, also called a brand promise, is a commitment to deliver a set of benefits to customers. This relates to why a business exists, how it helps people, and what solutions they provide.
This type of offer is also tied to your “position” in the marketplace. It influences how customers see your business and helps them make competitive comparisons.
Your brand promise could be as simple as helping people save more money in less time. Or, it could be more inspirational, like the one from Toms Shoes.
Taken from their website:
“As the Original One for One Company, we’ve always been in business to improve lives.”
This is a brand promise Toms makes to its target market. The statement focuses on their desire to make the world a better place.
It’s why they exist.
You should be clear on your brand offer before creating one for your products and services.
In my view, Simon Sinek’s Start With Why is a fantastic exploration of the brand offer.
An offer is the promise of benefits customers will receive from your brand, product, or service.
A second type of offer is the product offer. This offer states the benefits customers will receive from a product or service. Most of us are familiar with this offer type and it’s the one most people associate with the term.
These are offers designed to generate sales. Sometimes, they apply to a specific target segment or purpose. For example, a Christmas promotion that includes a 30% discount is an example of a product offer. The customer’s benefit is to save money.
As we’ll soon learn, the benefits you communicate in your offers will impact the price you can charge for it. And it all starts with understanding a problem presented by the idea of value.
Why Value Isn’t Always What It Seems
Every business owner knows the value they provide through their product or service. But most people in our audience won’t always see it—or care. This poses a real problem when it comes to making sales.
The are many reasons for this, but I will focus on three.
The first is obvious. People are inundated with an enormous number of marketing messages every day. It’s almost impossible for them to differentiate your business from your competitors.
This is why branding is so important. Brand building enables you to differentiate from competitors and communicate your unique value.
The second reason people don’t see our value is because value itself is subjective. Two people can value the same product or service, but for different reasons.
Each individual prospect will have his or her own opinion about the value of your product or service. This leaves many business owners guessing what benefits prospects care about most.
Instead of guessing what people value, we should instead build perceived value.
Doing this gives us more control over the process. We do it by building a link between what our customers want, and what we offer.
To do this effectively, you must know your target audience better than anyone else. Learning how they think, what they feel, and their priorities, provide valuable insight.
Most of all, find out what they like about the other products and services they buy. This will reveal their thought process as they make buying decisions.
The goal is to discover clues that will help you more interest in your product or service.
Once we have done this, we can then begin to design an offer that delivers what I call the Premium Brand Trifecta.
The Premium Brand Trifecta
In the previous section, we learned how to create perceived value for our product or service. This process includes delivering three types, or levels, of benefits.
Benefit Type #1: Functional
The first are functional benefits. Defined, functional benefits refer to the basic use of a product or result derived from a service. For example, a web designer makes websites. If you need a website, hire a website designer.
Sounds simple, right?
But if we aren’t careful, we can make some assumptions about our target audience that will work against us.
To explain, I want to ask you a question:
Do people really know what you do?
Well, some do and some they don’t.
As business owners, we know what we do. We’ve done it for a long time and we’re around it all day. As a result, we have a tendency to assume other people know more about what we do than they actually do.
The truth is, what you really do and what people think you do may not be the same at all.
I’ll give you an example. I’m a brand strategist. When most people think of branding, they usually think of logo design or slogans. Others may say a brand is what makes a business unique.
While all those statements are true, what I really do—brand strategy—is much more in depth. Logos and slogans are only a small part of it. Branding also includes competitive analysis, positioning, targeting, data analysis, and more.
Since many people don’t know this, I must intentionally and clearly communicate it to them. I am responsible for making sure my target audience understand what I do.
Write down all the functional benefits a customer will receive from your business.
- Are you doing a good job communicating them?
- Does your target audience know and understand each one?
If you need insight, ask some people you know to tell you what they think you do.
The results may be eye-opening.
Benefit Type #2: Technical
Now, for the second type of benefits we must provide in our offer—the technical benefits. Technical benefits relate to the quality and performance of your product or service.
Many business owners struggle to create technical benefits. To illustrate why, I want to share a quick story.
I once asked a new client why people should consider his business over a competitor.
“Because I do good work and take care of my customers,” he said.
I understand this response. Finding someone who cares and gives great service is difficult these days. In fact, it’s always been hard to find.
But there’s only one problem with using these statements as selling points.
Everyone else is telling them these things too—including competitors.
Of course, we want to give our customers great service. We like great service too. But we can’t know a business’s service is going to be great until after we become a customer and give them a chance to prove it.
Service is an after-purchase benefit.
Everyone else is promising great service and that their product is the “best”.
Many business owners get stuck when they try to create reasons to buy. So, they resort to old reliable, “great service”.
To create real technical benefits, focus on:
- Performance (for physical products) or expertise (for service providers)
- Features (what can it do others cannot?)
- No issues or defects
- Durability (how long will it last or how long is it accessible?)
- Efficiency (cost, time, etc.)
- Appearance (does it look like high-quality? Does the person look like a professional?)
This is how you set yourself apart.
Benefit Type #3: Emotional
Once our offer has clear functional and technical benefits, we add the final type. These are the emotional benefits.
They are the most powerful because people buy the transformation.
At some point, we’ve all seen or heard emotional benefits in an ad or presentation.
Achieve the financial freedom you’ve always wanted.
Live the kind of life everyone dreams of living.
These benefits show people how your brand, product, or service will change their lives.
But communicating them in your offer isn’t always easy.
Because many emotional benefits sound too good to be true. Others may take a long time to experience.
When this is the case, they won’t have the intended effect.
To deliver powerful emotional benefits, leverage these four experiential categories:
- Personal well-being (i.e. safety, health, etc.)
2. Elevated status (being desirable)
3. Sense of adventure and excitement
4. Achievement (or personal success)
Create an emotional benefit that a customer will experience in a short period of time. For example, feeling more confident and organized within 30 days is a great benefit.
Be sure to maintain realistic expectations. Overpromising and underdelivering is a sure way to lose customers.
Of course, most people want to enjoy long-term benefits. But relying on those alone won’t be compelling enough to motivate people to buy.
Bringing It All Together
Developing a great brand or product offer is a complex process. But it becomes simple with the right framework. Use the structure I have provided here to create your irresistible offer.
Start by developing your brand offer. This is a summary of promises you make to customers. Start with why you exist, how you help people, and what solutions you provide.
With your brand offer in place, you’re ready to craft a powerful product offer. Study your target audience and find out what they care about most that you can help them with. Focus on building perceived value by tying what they care about to your product or service.
To deliver the Premium Brand Trifecta, include three types of benefits. Use functional, technical, and emotional benefits to create an offer that motivates people to buy.
As always, I’m here to help. If you have questions, email me personally at [email protected].
Until next time,
We equip visionary entrepreneurs and small business owners with the knowledge and resources they need to stand out, communicate their value, and make more profit.