Hello, everyone, my name Clay Collins and welcome to this episode of The Marketing Show.
So I’ve got a super, super important and timely and must-see episode of The Marketing Show to watch today. But before I do that, let’s get to today’s marketing quiz.
So for today’s marketing quiz, we’re going to go back into the annals of history of The Marketing Show, back to episode number 10. So if you’ll recall in episode number 10, this adorable penguin was the star. So here is today’s quiz. Was the name of this penguin either, A) Oliver T. Finley Lucas Crunk, B) Paddington the Penguin, C) Mr. Pemberton or, D) Nancy P. Pennysmith? We’ll answer that at the end of the show.
So in this episode of The Marketing Show, I’m going to talk about offers, product offers, that are just good enough. Okay, so let’s talk about this. What is a good-enough offer? Well, a good-enough offer is often created by someone who’s just monetizing their list or they’re about to do a launch and they just come up with an offer last minute because they want to sell something, anything. And they just kind of hawk up an offer.
When your offer is just good enough, in order to move a product, you need to have like four-day, 50 percent off sales, right? You need to do lots of event marketing. When your offer is good enough, you only move product when the cart is constantly opening and closing, when you’re constantly launching and re-launching. You truly have to hustle for every single sale. When your offer is just good enough, aggressive marketing tactics have to compensate for a weak product offering, right? Your product doesn’t just move on its own, you have to strong arm it into happening.
When someone has a good-enough offering, right, and it’s just good enough, you see them doing things like offering like 4,000 dollars in bonuses, right, or bonuses that are going away if you don’t buy by the end of today, things like that. You see lots of false scarcity. You see people saying things like, “It’s my birthday, so this is half off,” or, “It’s my anniversary, so pay what you want,” right. People have to do a lot of strange and weird and aggressive things to make sales. They always have to be hustling if they want sales, right? Sales volume doesn’t just keep up on a week-by-week and month-by-month basis. An event is required in order to make sales.
So let’s talk a little bit more about good-enough offers. Well, good-enough offers are often created by dispassionate folks who really are just looking to monetize, they’re looking to capitalize on a trend. They’re looking to launch a product because there’s an opening in their calendar. They’re usually not offers that just create sales left and right. And the result of good-enough offers, I think the main result of good-enough offers are these drive-by products. So if you’ve seen much information marketing, you’ve probably seen a lot of products launched where you see them launch once, right, and maybe it’s a million-dollar launch or maybe it’s not, right, but you see the product launch once, and then you never see that product launched or sold again, right? Maybe they launch it twice, but then, poof, it’s gone.
And the reason why this happens is because the product publisher or the product owner realizes that in order to make sales, they have to constantly be launching and re-launching. They realize that they always have to be hustling if they’re going to make an income with that product. And so they end up closing the cart forever and that product never sees the light of day again. That’s called the drive-by product. And the graveyard of drive-by products especially in the Internet marketing space is endless. And sadly, good enough offers and drive-by products have become the status quo in Internet marketing, and I am sick and tired of it. I think good-enough offers have to stop. Don’t casually launch products.
At this point, you might be wondering what is the alternative to good-enough offers. Well, the alternative to good-enough offers are really bull’s-eye offers. So let’s talk about the difference between bull’s-eye offers and good-enough offers.
When you have a bull’s eye offer, customer demand and word-of-mouth drive regular evergreen sales that happen on a regular basis, right. You don’t have to launch the product every time you want sales. When Apple launches the iPad or a new version of their product, they launch it and sales continue to happen throughout the year even after that launch is over. But when you have a good-enough offer, sales only happen when scarcity and aggressive tactics are used. Like I said, when you have a good-enough offer, strong marketing must compensate for a weak offer. When you have a bull’s eye offer, very little marketing is required after the initial launch. But when you have a good-enough offer, you must constantly be hustling and marketing and adding bonuses and making things go away and launching and re-launching in order to get sales. When you have a bull’s eye offer, you are truly freed up to work strategically on your business because your product sell week-after-week, month-after-month on their own. The product sell themselves, right? But when you have a good-enough offer, you always have to be hustling and it’s truly unfortunate. In short bull’s-eye offers create sales that happen without your involvement but good-enough offers require you to create campaign after campaign to recreate excitement for your product. So just to close this out, bull’s-eye offers are awesome and good-enough offers suck.
So in conclusion, bull’s-eye offers create constant evergreen sales that occur without special promotions, hype or event-based marketing. And let me just tell you a story from my own business about when I knew we had a bull’s eye offer. I was flying. I just got off the plane. I had a webinar that I had to put on immediately to promote a product. During that webinar my sound went in and out. My video went in and out because I was on one of those crappy hotel Internet connections. I couldn’t demonstrate the product. I couldn’t demonstrate what was happening. A lot of stuff went haywire but we still got out an outrageous conversion rate on our webinar. I believe it was like 20 percent. And that’s because we had a bull’s-eye offer, people inherently wanted what we had to sell. We didn’t have to create a lot of hype. We didn’t have to create a lot of scarcity. And we didn’t have to take the product off the market in order to create sales. It was just a product that people wanted because we had a bull’s-eye offer.
So here are today’s takeaways. The first one is that it is absolutely worth it to create a bull’s-eye offer and I highly recommend that you take the time to create one because it does take time. The second takeaway is this, “Launches are just that.” They’re for launching the product but you’re really in a bad spot when you have to launch every single time you want any significant amount of sales volume to come into your business. Third, without a bull’s-eye offer, the hustling never ends. And finally bull’s-eye offers allow you to work on your business because sales happen without you, but good-enough offers require you to constantly be working in your business whenever you want sales and constantly be working in your business in order to stay afloat.
So with that said and with this main message driven home, let’s conclude today’s marketing show by wrapping up the marketing quiz. So the answer to today’s marketing quiz is Mr. Pemberton; the name of the adorable penguin who starred in episode number 10 of The Marketing Show is Mr. Pemberton.
Anyway, that wraps up today’s show. Thank you so much for watching and I’ll talk to you next week.