Page 107 - The $100 Startup_ Reinvent the Way You Make a Living, Do What You Love

It sounds great, but a few months later they inevitably reverse course and
remove the extra inches of space. Why? Because despite what they say, most
travelers don’t value the extra legroom enough to pay for it; instead, they value
the lowest-priced flights above any other concerns. Airlines have figured this
out, so they give people what they want—not what they say they want. A good
offer has to be what people actually want and are willing to pay for.

2. Most of us like to buy, but we don’t usually like to be sold.
An offer you can’t refuse may apply subtle pressure, but nobody likes a hard
sell. Instead, compelling offers often create an illusion that a purchase is an
invitation, not a pitch. Social shopping services such as Groupon (see Chapter 8)
and Living Social have been successful in recruiting their customers to do most
of their marketing for them. Indeed, the biggest complaint about these businesses
is often that they sell out of deals too quickly, also known as “They won’t let me
give them my money!”

As you might imagine, the path of least resistance is a good place to stand.
Visitors to Alaska quickly understand why a $100 coupon book is worth much
more than $100. Marathon runners do not need to be sold on the benefits of fresh
oranges after three hours of running. Adventurous college students will grasp the
value of a $20,000 “go travel somewhere and do what you want” fellowship
without much explaining.

Offer Construction Project

MAGIC FORMULA: THE RIGHT AUDIENCE,
THE RIGHT PROMISE, THE RIGHT TIME =

OFFER YOU CAN’T REFUSE
BASICS

What are you selling? ______
How much does it cost? ______
Who will take immediate action on this offer? ______

BENEFITS

The primary benefit is ______
An important secondary benefit is ______

OBJECTIONS

What are the main objections to the offer?