If you have a business, do you have a product or service that attracts people to look at the product or service in the first place?
It will be a lower priced item that will allow customers to get to know your business. It does have to represent good value to your customer – something of a no-brainer. Once they are in and like, or even better, love what you are offering, there is a highly increased likelihood that they will look around and purchase higher priced products or services. You now have fans, people who know, like and trust you enough to buy more of what you offer, and better still, recommend it to their friends, family and anyone who will listen. Isn’t that what we do when we “discover” something we like?
In marketing, this is called a FUNDED PROPOSAL. This will give your client the opportunity to start and get into something great. Can they make it on their own with only that? Possible, but not probable. However, with added guidance in that direction, they have a really good chance of being great.
You know how most businesses, both online and offline, offer special discounts on Black Friday, just after you are feeling mellow from all that Thanksgiving turkey the day before? It’s a form of a funded proposal – There are generally steep discounts on their products and services to get you interested enough to purchase from them both now and in future, not only that one time. If you feel it is valuable and useful enough, aren’t you likely to sign up to their list and look out for other things that you may want in future? You have become a fan!
Back to Apple – when they started the iPod, it was a fairly expensive item. Over time, they introduced the ipod touch, the ipod Nano and then the ipod Shuffle: all at progressively lower price points – now almost everyone could afford one! Go into the Apple store for a Shuffle, see the dazzling display of other higher ticket items, and see if you don’t come back in the near future for something else! The iPod Shuffle is Apple’s funded proposal!
My first Apple product was a computer years ago. I found it so much easier to use, and I am an unabashed Apple fan. Let’s count the ways: iMac, ipad, MacbookPro, iPod, iPhone (just got the 5!) – you get my point.
Have you noticed how almost every one of the higher end car manufacturers now have a line of lower priced models that were not around 10 – 15 years ago? Then you either had the money for a Mercedes Benz or BMW or you didn’t. Both companies now have “entry-level” cars, that don’t cost that much more than those from other manufacturers who market to the average person.
They aim to attract a group of people who are younger and at the start of their careers – it then builds BRAND LOYALTY.
What do they do as they rise up the corporate ladder or get that bonus cheque? Get a bigger and better car from the same place! In the meantime, the company has built a fan base, even though their main profits come from the higher end products, they bring them in early, and keep them up to the stage where they start buying their pricier products. Smart or what? You need to do the same.
Always remember, though, that you have to lead with VALUE! Your funded proposal needs to be of sufficient value (i.e. more than the face value) to attract your clients to keep coming back to see what else you have to offer. If they feel you offer great value, they WILL keep coming back. It get’s you a feet in their door, with the opportunity to build a relationship, and continue to deliver great value to them
Tip: Make your funded proposal an irresistible offer!