How to Create Offers that Have Perceived Value
The key to a truly spectacular inbound marketing strategy is creating offers that have perceived value to your audience. You need to create offers that are so irresistible that your website visitors will have no qualms whatsoever about filling out their contact information in your online forms. The higher the perceived value, the more likely your audience will see your offer as valuable, irresistible and desirable. But…how can we create offers that have our website visitors drooling at the mouth (they’re that excited about your offers)? Read on to learn our tricks of the trade and understand the process of how to create offers that have perceived value.
How to Create Offers that Have Perceived Value
Make it Scarce
If you look at the principle of supply and demand, you’ll notice that when supply is limited, demand goes up. Scarcity has a psychological influence on us, making us want something even more if there isn’t enough to go around. Scarcity is great because it creates a fear of shortage, and thus a sense of urgency.
Limited Time Offers
Limited time offers are among the most popular in the scarcity category. Just think about your average car dealership. Practically every commercial is a limited time deal. “Get 0% financing before it’s gone!”
Limited Quantity Offers
When something is of limited quantity, it suddenly becomes more unique or exclusive. In some studies, limited quantity or supply offers have outperformed limited-time offers. Why? Because it’s hard to tell when an offer of limited quantity will suddenly become unavailable, while a time-based offer has a known end time. Limited quantity offers are great for not only getting people to say “yes” to your offer, but to avoid procrastination completely.
Limited Time and Limited Quantity
Groupon is the perfect example of using both tactics. All Groupon deals end within a certain time frame, and they limit the number of people who can buy a Groupon. That’s a powerful combination. The site also packages these scarcity tactics with discounting, which is another great value-add, especially for ecommerce businesses.
Use the Bandwagon Effect
It’s a natural tendency for humans to copy one another, even without realizing it — we like to be a part of tribes and social communities. So when we notice our social circle is doing one thing, we tend to follow suit. One great way to make an offer more valuable is to show that other people are participating in that offer.
Proof in Numbers
When possible, a great way to indicate how awesome an offer is to mention the number of people who have purchased, downloaded, signed up, or donated. Just remember to be truthful (and realistic) with your numbers!
These are powerful assets – use them to create offers that have perceived value to your audience! And then…let us know how it goes!