Fishing Without BaitApr 10, 2023
Have you ever tried fishing without bait on your hook?
If you haven’t, I will save you some pain.
You will catch very few fish (if any at all) without having bait on your hook.
No matter how shiny your hook is.
In marketing, an offer is your bait.
The more irresistible the offer is, the more you will catch.
With most of your competitors operating with a scarcity mindset, they are hoping for a good day of fishing, but there is no bait on their hook because they think the bait is one more unnecessary cost to them. What do they do with costs? They try to minimize them.
But not you. You understand that an irresistible offer is an investment in your client. Not a cost.
This differentiator between seeing marketing as an investment instead of a cost, can be one of the fastest ways to gain market share (only second to acquiring a competitor).
Your clients want to feel appreciated and important.
When you give your clients an irresistible offer, you are giving your clients a taste of a service loaded with so much value that they will want more of that service.
What is an irresistible offer?
As Alex Hormozi teaches in his must-read book, “$100 million Offers,” an irresistible offer is so good that it will make someone feel stupid for saying no.
You will need an irresistible offer at three specific points in your client’s journey:
- Acquisition – when you ask your client to start using your services for the first time
- Ascension – when you ask your existing client to start using a different service
- Retention – when your client has drifted away and you want to
Think of these three parts of the journey the way a farmer thinks about planting his crops. When you make an irresistible offer, you are planting the seeds. Then each visit after the irresistible offer is your harvest.
I know I am making an excellent irresistible offer when two things happen:
- I am nervous to make the offer, knowing that I am giving so much value for so little revenue
- The majority of my ideal prospects or clients will say “yes” rather than say “no”
We have enough challenges running our small businesses. Staffing, deadlines, maintenance, quality, team engagement, and rising costs to name a few.
Don’t make life harder for yourself.
Don’t go fishing without bait.
You will not degrade your brand by making irresistible offers. In fact, you will do the exact opposite.
You will positively increase how the client FEELS about your company, and this actually will upgrade your brand.
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