The Irresistible Offer Framework - (Part 2)

Preview from the latest issue:

Remember this is a 2-part series…..

A good offer has the power to make or break your business”

That is what one of my mentors said when was starting out.

I couldn’t figure out why anything that I was putting out was not working.

I tried every method, marketing channel, copywriting tactic, and strategy I could get my hands on.

I didn’t know what I was doing wrong

I even thought that this wasn’t for me, or that the universe was conspiring, hiding the secrets for success.

One day, I went to my mentor’s house

Only to talk about how I was doing.

After hours of telling him all the things, I was trying out…

He stop me and said:

“You are focusing on the wrong thing”

“Your marketing is not working not because of the sales copy or strategy or the product that you are selling”

“It is your offer”

“A good offer has the power to make or break your business”

It shocked me like a ton of bricks.

All the sudden I was illuminated and I thought “This is It”

“This is the piece I was missing”

This is when I found the book “100M Offers by Alex Hormozi”

This book explains in detail, with formulas and examples, how to create irresistible offers.

If you want all the little details, go now and read that book.

But If you want a highly actionable and condensed step-by-step process…

Stay tuned 👇

Because on this post you will learn:

• Proven Frameworks for Offer Creation

• The definition of “Value” and how to measure it.

• How to increase your product's value, charge more, and eliminate buyers' resistance.

Now that being said let’s dive in on part 2 of the irresistible offer framework!

How to Use Offer Bonuses

So now, we already discussed:

• How to create your first offer

• How to use the Value Equation to measure and create value

• And the science behind The Outcome, The Problem, The Mechanism & The Delivery

Now let’s see how to increase even more the value of your offer

We can do this by breaking down your service into multiple pieces.

What we did before was the creation of the main thing that we are selling.

The Core Offer. 

Then we talk about how to offer Promotions. This was to lower buyers’ resistance.

Then we enhance the value with the Value Equation.

Lastly, we discussed how to position yourself with The Outcome, The Problem, The Mechanism & The Delivery Framework

The next framework is “Bonuses”

In a few words, the bonuses are all the things that are being provided in addition to the Core Offer.

This framework is very straightforward:

For example:

We could be selling a CrossFit boot camp program.

The core thing is the boot camp itself.

People come to you to lose weight.

But then we can increase the value of our service by offering extra stuff.

For example:

• Food

• Massages

• Transportation

• Custom Nutrition plans

• Etc.

When presenting this to someone in person, the conversation can be something like this:

“Hey you get the workouts, but if you sign up today I will also give you food preparation structures, grocery list, how to eat on the weekends guide, and how to drink alcohol and stay skinny. I'll give you all of those extra bonuses if you sign up today.”

All of a sudden, the offer, which was what just the exercises…

Becomes more valuable…

All because of the way that is positioned.

When we are selling we make the ask ONLY before the core offer…

And if they say no, that is when we start stacking.

The first thing that you present when you are selling is what people anchor with.

People usually have a price or product anchor which they use as a reference.

So the prospect thinks:

• “This is what this guy was trying to sell me this whole time”

And they start to compare the price to the product.

But then, you don’t stop there…

You start to stack and stack and stack bonuses on top of the core offer.

NOW, they think that the offer is such a steal, compared to the original thing.

The idea is to produce this thought every single time:

• “I will be an idiot if I don't say yes to that.”

If the client says yes to the main thing, awesome, but if not, we keep throwing at him bonuses.

Ideally, you should use these bonuses as trump cards.

They should be used solely as a tool to close deals.

Go ahead, get a piece of paper, and start writing down all the things you could offer to your potential customer.

1. Only add things that will increase the value of your product

2. Make this decision as easy and smooth as possible for them.

The psychology behind “Street Value”

This step is to make sure that your prospects know exactly the value that they are getting.

The idea is that all the bonuses, need to be listed publically as separate products or services.

Ideally, this should be front and center on the webpage.

This is what we call “street value”. 

People already know how much it costs…

So when we throw the bonus at them they are like, “damn he is giving me this $800 thing for free, if I buy it now.”

Now, let’s use a web development example.

We could say: 

— I offer businesses the most attractive, intuitive, and secure website in the market, to scale the sales in their businesses in “X” time with no effort on their part.

$8000 Total

= MMM, I Don’t know, I need to think about it.

— Totally understand, just to clear it out, if you sign with us today we also offer branding guidelines and creative content for your social media, so you can increase your brand awareness.

— Plus we also offer a 15% discount if you sign up today because we love action-takers, what do you think??

In the end, if we placed all of those services together it might cost the same thing as before.

But because the client has the price anchor when we offer him the main thing, now you can charge more.

All because we break it down this way.

Scarcity and Urgency.

This is the next framework we will be discussing.

In this framework, I will explain how to use these two variables to manipulate the product/demand curve in your favor.

How to use Scarcity & Urgency.

Scarcity and urgency are techniques used to produce a sense of FOMO (fear of missing out) in your customers.

This can be done by limiting the availability of your offer or creating a deadline for purchasing.

Scarcity = Spots Left = Function of Units

There are only 3 ways to implement scarcity:

1. Limited Supply (Spots left, Workload Roof) “When our 2 spots fill, we are not going to accept any more projects for 2 months”

2. Side note: We can also re-wrap the bonuses in different ways with different names to keep them fresh.

   So when we run out of the “nutrition pack bonus” we can re-package it and present it as “low-carb nutrition plan bonus”.

3. It doesn’t need to be true, but we can present services, promotions, or bonuses that are labeled as “limited time only”.

   This creates a visceral response in your potential customers.

   “If I don’t buy this right now, I am not gonna be able to buy it later”

Urgency = It ends Tomorrow = Function of Time

This one is easier to use than scarcity.

The difference between scarcity and urgency is that scarcity is a function of units, and urgency is a function of time.

People usually put them in the same category but they are different.

There are only 4 ways to implement Urgency in your offer:

1. Cohort-Based Urgency: This Group/ Block/ Class.

   This is kinda confusing so I am going to use an example to illustrate this:

   Hey, I have a new group of clients that are going to start on Monday, you will not want to miss out.

   This is because there are some awesome people in that group, and after they start, you can not be with them anymore.

   Do you want to be with this group? It starts on Thursday”

   ---“Yeah I will not want to miss that group”

   “Yeah, of course, you should do it, those guys are awesome, let's get started”

   It just gives this little push, so the client can decide.

2. Named Based Urgency: New Year XYZ, Valentines XYZ…

   This is where we can re-skin the same offer over and over presenting promotions, limited offers, limited bonuses, and limited-time promotions, and you just change the name of it and apply a different label.

   You can review your promotions every month and reskin them, so you can create this urgency in our clients.

   Is the same offer, the only different thing is the promotion around it, it can be even in the same price points but just changing the name makes it feel different.

3. Bonus Urgency: This promotion ends next week, this price discount ends next week, this bonus is limited time only, etc.

4. Exploding Opportunity Urgency: Window of opportunity in the marketplace. For example a new trend or new technology that everyone is talking about.

   If there is an event that brings about changes in the marketplace or alters the way things are done, there are opportunities to take advantage.

   For example:

   “It is not about newspaper anymore is about digital news and right now there are too few people in the space doing it so you can be one of the first adopters and get a huge portion of the market”

   So there is this exploding opportunity, something that is arbitrage.

   If we take our existing product and implement it on an exploding opportunity, it will create more urgency to take action.

Now let’s take a look at everything working together:

Action List

• First, we see the promotion we are offering.

• Then we take a look at the Main Offer and then adjust it to make it more valuable.

• Offer a bigger and more compelling outcome.

• Cut the time in half.

• Decrease the effort they have to put in.

• Increase the likelihood that they are going to achieve the outcome.

• Right when they are going to make a decision: “This is just THIS big, let me show you…. all the other things that we are going to do for you”

• And by the way…. We only have “2” spots left and I have 19 more meetings scheduled for this week, soo…. what do want to do?

Remember, it’s important that determine every section.

I can’t tell you how often one item becomes the reason someone doesn't buy.”

1: Once you know the bonuses you are going to include in you’re offering.

2: And the psychological techniques to make people take action.

Your potential customer becomes highly responsive to your marketing.

This is because of the way you position your product, and the buying triggers you placed around it.

There you have it…

3 more steps for the Irresistible Offer Framework.

This WAS a 2 part series…

But since this article is getting pretty long a will need to push the last 2 frameworks for the next newsletter.

So stay tuned for that ✌️ 

I hope you found these helpful.

Take some time this Monday to begin implementing what I've shared here today, and then hit me up on Linkedin in a few weeks with an update.

Let’s build together!

Sebastian Morino

P.S. Whenever you're ready, there are 3 ways I can help you:

1: Build your clarity, systems, and growth with 1:1 consultations here.

2: Follow me on Twitter, LinkedIn, and Threads for more operating systems, marketing tips, sales funnels, and automation systems.

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