Creating Million-Dollar Offers
Clients will often come to me and tell me that their “Facebook / Google / Radio etc ads aren’t working”. Every single time I tell them that it’s not that the platform has let them down. It’s their audience targeting (often), their timing (sometimes) or their offer (almost always) that is to blame.
Your advertising platform of choice’s job is merely to provide you with eyeballs. It’s YOUR job to persuade your audience to take action.
This is where the “$100 Million Offers” framework comes in. If you don’t know who Alex Hormozi is, he’s a very ripped, very rich young man who gives a lot of business advice whilst wearing a gym singlet and a nasal strip. He’s exactly the sort of business guru that my ex-corporate, suited and booted clients typically scroll right past and he wrote one of the best business books I’ve ever read.
It’s not that “$100 Million Dollar Offers” is particularly groundbreaking in its content. It’s just that possibly because Hormozi has come up through the world of gyms rather than that of Fortune 500’s that he breaks down the process of offer creation so succinctly and so compellingly. Nailing your offer and making it so good that your customer feels silly saying no is especially crucial in crowded markets where differentiation is key.
In the following section, I’m going to outline how I use his framework when writing copy for my clients. I’ll demonstrate how you can use the $100 Million Dollar offers framework to enhance the perceived value of your services by aligning them closely with customer needs, leading to increased and faster client uptake, higher prices and increased profitability.
Nailing Your Offer
There are 2 core principles that lie at the heart of a great offer.
- Value Creation: At the core of a great offer is the concept of creating immense value. The good news? This doesn’t have to involve any extra work. I am yet to work with a single expert or consultant that doesn’t underestimate or overlook the value of their offer. They’re too close. When you take a step back and truly examine everything you do for your customers, you’ll find that you have more than enough to work with in order to craft an offer full to the brim with solutions that are not just beneficial but indispensable.
- Client-Centric Focus: Every aspect of the offer is crafted with the client's needs, challenges, and goals in mind. Forget your business. Forget your products and services. Forget your competition. To create a great offer, you MUST keep the customer at the heart of everything you do.
The Steps to Creating a Million Dollar Offer
The process of creating a Million Dollar Offer touches on every aspect of your marketing strategy. Each step is an opportunity to assess your marketing and messaging efforts, as well as the products and services you provide anew.
It’s worth taking the time to make a really thorough assessment here. It has the potential to change the trajectory of your entire business.
When crafting my Million Dollar Messaging offer, I took myself off to a hotel for 3 days and did nothing but research, think and journal. However if you are already clear on your ideal customer avatar, their fears, desires and pain points and you are confident in your product offering and it’s value, this process shouldn’t take you more than an hour.
Exercise 1: Create a Market of One
Creating a Market of One is crucial because it allows you to tailor your offer to a specific audience, making it more relevant and appealing. By focusing narrowly, you position yourself as a specialist rather than a generalist, which can enhance your credibility and value in the eyes of your potential clients.
In crowded markets, having a highly targeted niche helps you stand out. It enables you to speak directly to the needs and pain points of your audience, making your marketing more effective and your offer more compelling.
This exercise is not just about finding a gap in the market; it's about finding a gap that you are uniquely suited to fill, both in terms of your skills and your ability to reach and serve that market effectively. It’s about creating an offer that not only meets a need but does so in a way that is better than anyone else in that space.
Step 1: Identify Your Broad Market
First, you need to determine the broad market your offer falls into. Typically, these are categorised into three areas: health, wealth, or relationships. These are universal areas that deeply affect people's lives. Your offer should aim to solve a problem or fulfil a need in one of these areas.
Health: This could include physical, mental, or emotional well-being.
Wealth: This involves financial matters, business growth, career advancement, etc.
Relationships: This could cover personal relationships, professional networking, social connections, etc.
Step 2: Find a Smaller Sub-Group Within One of These Buckets
Once you've identified your broad market, the next step is to narrow down to a specific sub-group within this area. This process is about finding a niche – a more focused, targeted group of people who share specific characteristics or needs.
Four Elements of a Good Market:
Massive Pain: The target market should have a significant problem or need, something they don't just want, but desperately need. This urgency makes your offer more compelling.
Purchasing Power: Ensure that your target market has the financial means to pay for your service. It’s not just about having a valuable offer; it's about having an offer that your market can afford.
Easy to Target: The market should be identifiable and accessible. With today's digital marketing tools, you want to make sure you can reach your ideal audience effectively and efficiently.
Growing Market: A market that is expanding or evolving is preferable. Growing markets offer more opportunities and a larger pool of potential clients.
Step 3: Niching Down Further:
Ask yourself where you are currently niched. Can you focus even more narrowly?
Consider niching down on the specific problem you're solving. The more specific the problem, the more tailored and effective your solution can be.
Exercise 2: Identify their Dream Outcome
Now it’s time to focus on identifying the dream outcome for your target market.
A convincing ‘dream outcome’:
Aligns Your Offer: By focusing on the dream outcome, you ensure that your offer is perfectly aligned with what your audience most desires. This alignment makes your offer more relevant and compelling.
Enhances Marketing Messaging: Understanding the dream outcome allows you to craft marketing messages that resonate deeply with your audience, as you're speaking directly to their aspirations.
Drives Purchase Decisions: People are more likely to invest in a product or service that promises to deliver their dream outcome, especially if it’s a deeply held aspiration or solves a significant problem for them.
Builds Emotional Connection: By focusing on the dream outcome, you tap into the emotional aspect of decision-making, which is often more powerful than rational analysis.
This exercise is crucial because it aligns your offer with the ultimate desires or goals of your audience, thereby enhancing its appeal and effectiveness.
Step 1: Research
Step 2: Note Down All Possible Problems & Solutions
Step 3: Choose a Dream Outcome
The first step involves conducting thorough research to understand your target market deeply. This means going beyond surface-level information and getting to know their aspirations, challenges, and what they value most. The research can be done through various methods like surveys, interviews, reading online forums, or analysing existing customer data.
This step requires you to list out all the potential problems your target market faces, along with possible solutions for each. It's about mapping out the landscape of their challenges and how your offer can address them.
Example:
Problem #1: For a health market sub-group like busy professionals struggling with fitness, the problem could be lack of time to exercise.
Solution #1: Offering quick, high-intensity workouts designed for busy schedules.
Solution #2: Providing meal plans that are easy to prepare and fit into a hectic lifestyle.
Solution #3: Online coaching for flexibility and accessibility.
Problem #2: The same group might struggle with stress management.
Solution #1: Integrating mindfulness and meditation into their fitness program.
Solution #2: Offering guidance on work-life balance and stress-reducing techniques.
Solution #3: Creating a supportive community or group coaching sessions for shared experiences and strategies.
From your list of problems and solutions, identify a 'dream outcome' that your target market desires. This outcome should be aspirational yet achievable with your help. It's the ultimate benefit or transformation your audience seeks, and your offer should be positioned as the pathway to achieving this outcome.
Example of a Dream Outcome
For the busy professionals in the health market, a dream outcome might be achieving a balanced lifestyle where they feel physically fit, mentally sharp, and have time for personal and professional commitments. Your offer would then be structured to help them achieve this balance through tailored fitness and wellness programs.
Exercise 3: Charge What It’s Worth
This next exercise encourages a shift in mindset from traditional cost-plus pricing to value-based pricing. This approach not only helps in justifying the price you set but also ensures that both you and your clients appreciate the true worth of your offer. It's a key step in transforming your service or product into a million-dollar offer.
Importance of Pricing Based on Value
- Aligns Price with Impact: By pricing based on value, you ensure that your offer is priced in accordance with the impact it has on your clients' lives or businesses.
- Enhances Perceived Value: Clients often perceive higher-priced offers as more valuable, assuming that the price is a reflection of effectiveness and quality.
- Ensures Fair Compensation: This approach ensures that you are fairly compensated for the real value you bring, rather than just covering costs or undervaluing your services.
- Attracts Serious Clients: Higher pricing aligned with value can attract clients who are serious about achieving their goals and are willing to invest in high-quality solutions.
Step 1: What’s Your Current Price?
Firstly, assess the current pricing of your services or products. This step requires an honest evaluation of how you've been valuing your offer so far. It's important to consider not just the cost of production or delivery but also the value it provides to the customers.
Step 2: Adjust Your Pricing Based on Four Factors
This step involves reevaluating your pricing by considering four key factors:
Increase: Dream Outcome
Consider the value of the dream outcome you are providing to your clients. If your service or product significantly contributes to achieving their aspirational goals, this adds substantial value and should be reflected in your pricing.
Increase: Perceived Likelihood of Achievement
Evaluate how likely your clients are to achieve their desired outcome through your offer. If you have a high success rate or your method is particularly effective, this increases the perceived value of your offer.
Decrease: Perceived Time Delay Between Start and Achievement
Consider the time it takes for your clients to see results. The quicker the results, the more valuable your offer is perceived to be. If your solution offers rapid transformation or benefits, this can justify a higher price.
Decrease: Perceived Effort & Sacrifice
Reflect on the effort and sacrifice required from your clients to attain the results with your offer. The easier and more convenient it is for them to achieve their goals with your help, the higher the perceived value of your service or product.
Step 3: Now What’s It Worth?
After adjusting your pricing based on the above factors, reevaluate what your offer is truly worth. This step is about finding the right balance where the price accurately reflects the value provided, considering the impact on the client's life or business.
In Summary
This exercise shifts the focus from competing on price to competing on value, which is essential for differentiating your offer in the market. By understanding and communicating the true value of what you are offering, you position yourself not as a cost but as an investment in the client's success.
Exercise 4: Articulate Your Solutions
In Exercise 4, we move beyond a generic list of services to a well-crafted, compelling offer that speaks directly to the needs and aspirations of your target market.
By thoroughly exploring all possible ways you can deliver value and then carefully selecting and organising the most impactful ones, you create an offer that is not only appealing but also practical and feasible to deliver.
Importance of Clearly Articulating Your Solutions
- Clarity for Clients: Clearly articulated solutions help potential clients understand what you offer and the specific benefits they will receive. This clarity is essential for informed decision-making.
- Enhances Perceived Value: A well-organised and thoughtfully presented offer is perceived as more valuable. It shows professionalism and a deep understanding of client needs.
- Focuses Your Marketing: This exercise helps in honing your marketing messages, ensuring that they are targeted and resonate with your intended audience.
- Streamlines Service Delivery: Understanding the core elements of your offer aids in streamlining service delivery, focusing on what truly matters.
Step 1: List Everything That You Could Possibly Do for Them
The first step is a brainstorming activity where you list out all possible services, features, and benefits that your offer could potentially include. This is not about filtering or evaluating the feasibility at this stage; it’s about exploring every avenue of how you can deliver value to your clients.
Consider every aspect of your service. Think about all the ways your service can impact the client’s life or business. This includes direct services, indirect benefits, support systems, additional resources, etc.
For a list of examples, download the >>Million Dollar Offers workbook.
General Tips for Brainstorming:
Think about the end-to-end experience of your client and all the touchpoints where you can add value.
Consider both the direct services you can offer and the indirect benefits (like peace of mind, time savings, etc.).
Be innovative – think about services that might not be typical in your industry but could be highly beneficial to your clients.
Remember, this stage is about brainstorming, so don’t limit yourself. You can refine and prioritise later.
Step 2: Trim & Stack
After creating a comprehensive list, the next step is to refine and prioritise it. This involves trimming down the list to the most impactful and feasible elements and then organising (or stacking) these in a way that makes the most sense for your offer.
Trimming: Evaluate each item on your list for its real impact on the client’s dream outcome. Remove anything that doesn’t directly contribute to this outcome or isn't feasible within your capabilities.
Stacking: Organise the remaining elements in a logical and compelling manner. This might involve grouping similar services together, ordering them by the sequence of delivery, or prioritising them based on impact.
Example
A final offer stack for a business consultant might look this this:
"Total Business Transformation Package"
Comprehensive Business Assessment: Detailed analysis of current business operations, market positioning, and competition.
Customised Growth Strategy: Development of a tailored growth plan including marketing, sales, and operational strategies.
Financial Health Overhaul: In-depth financial analysis with budgeting, cost reduction, and revenue optimization plans.
Employee Development Program: Leadership and productivity training workshops for staff.
Monthly Progress Monitoring and Strategy Adjustments: Ongoing support and strategy refinement based on performance data.
Quarterly Networking and Partnership Opportunities: Regularly facilitated introductions to potential business partners and clients.
Six-Month Brand Rejuvenation Project: Comprehensive brand review and redevelopment, including digital presence and marketing materials.
For more examples, download the >>Million Dollar Offers Workbook
In Summary
This exercise explores the full extent of your capabilities and then refines them into a coherent, compelling package. This approach ensures that your offer is not just a collection of services, but a well-thought-out solution tailored to your client's needs and desires.
Exercise 5: Enhancing the Offer
Enhancing your offer is about adding those extra touches that make your service irresistible. It’s not just about what you offer, but how you offer it - the packaging, the presentation, and the added value. This stage transforms a good offer into a great one, making it more appealing, trustworthy, and desirable for your clients.
Importance of Enhancing the Offer
- Stand Out in the Market: In a competitive market, an enhanced offer helps differentiate your service or product from others.
- Increases Perceived Value: Adding scarcity, urgency, bonuses, and guarantees can significantly increase the perceived value of your offer.
- Encourages Quick Decision Making: Elements like urgency and scarcity compel potential clients to make quicker decisions, reducing the sales cycle.
- Builds Trust: Guarantees reduce the perceived risk for the client, making them more comfortable to invest.
Step 1: Create Scarcity
Creating scarcity is about making your offer appear limited in availability, which can significantly increase its attractiveness. Scarcity taps into the basic human instinct of desiring what is rare or in short supply. By limiting the number of products available or the time frame in which a service can be accessed, you create a sense of exclusivity and urgency.
This can be achieved through tactics like offering a limited number of spots for a program, having a special edition product, or setting a deadline after which the offer will no longer be available. The key is to make your clients feel they are getting access to something unique and exclusive.
It’s important that you don’t lie to people. As I write all my own copy, and most of my clients go on to get me to write funnels and other sorts of copy for them after they’ve completed their Million Dollar Messaging program, I am genuinely limited to 4 new clients a month. So I say it. A confused mind says no and scarcity is sometimes the thing that will get them over the line. It allows them to give themselves permission to allow you to help them. Similarly, if you offer exclusive access or an exclusive bonus, stop when you say you will. Marketing is about trust. Don’t be sleazy.
Examples
Limited Availability: Offer your service or product to a limited number of clients or for a limited time. For instance, "Only 10 slots available for our exclusive coaching program!"
Exclusive Access: Provide access to something unique or exclusive, like a members-only group or a special edition product.
Step 2: Create Urgency
Time-Limited Offers: Introduce offers that are available for a short period. For example, "Sign up in the next 48 hours to receive a 20% discount!"
Early Bird Specials: Reward early decision-makers with special pricing or bonuses.
Step 3: Add Bonuses
Complementary Services or Products: Offer additional services or products that complement the primary offer. For instance, a free one-month follow-up for a coaching program.
Value-Added Resources: Provide resources like eBooks, exclusive videos, or tools as a bonus.
Step 4: Make Guarantees
Satisfaction Guarantee: Offer a money-back guarantee if the client is not satisfied with the results.
Performance Guarantee: Promise specific measurable outcomes, ensuring clients feel secure in their investment.
Step 5: Name It
Give your offer a catchy, descriptive name that encapsulates its value and appeal. For example, "Total Business Makeover" for a comprehensive business consulting service.
Step 6: Refine Your Offer Language
This is where the rubber hits the road. Ensure that the offer is presented in a clear, concise, and compelling manner. This means avoiding jargon, being direct about the benefits, and making the value proposition unmistakable.
Spend some time here. If you were born before 1990, pen and paper is essential. I know it is for me. I write out the offer first by hand and it’s always awful, garbled and nonsensical. I start with big, emotional words and general verbosity. Then I refine, refine, refine. I cut out unnecessary words, anything that doesn’t feel right with the view to getting the offer as tight as possible.
Some examples include:
Business Consulting Package: "Elite CEO Accelerator Program" - Limited to 15 clients per quarter, includes monthly personalised strategy sessions, exclusive access to a CEOs network, a free ticket to an annual business summit, and a 30-day satisfaction guarantee.
Fitness Coaching Service: "30-Day Fitness Transformation Challenge" - Early bird sign-up discount, includes bonus nutritional guides and workout plans, with a 'see results or get your money back' guarantee.
Digital Marketing Agency Package: "Ultimate Brand Overhaul Bundle" - Available for the first 10 businesses each month, includes a free website audit, a bonus social media strategy toolkit, and a performance guarantee on campaign results.
"Total Business Makeover": A comprehensive three-month consulting package for small businesses, including personalised business strategy, marketing overhaul, and sales funnel optimization, backed by a 30-day satisfaction guarantee.
"Fitness Transformation Bootcamp": An 8-week intensive fitness program with personalised nutrition planning, daily workout routines, weekly one-on-one coaching, and a full money-back guarantee if specific fitness goals aren't met.
"Ultimate Real Estate Mastery Course": A complete online course for aspiring real estate investors, offering step-by-step guides, live Q&A sessions, exclusive access to investment tools, and a 90-day success or refund policy.
"Zero to Hero Public Speaking Workshop": A 6-week live workshop focused on public speaking, including personalised speech coaching, access to a library of resources, and a final live presentation opportunity with professional feedback.
"E-commerce Accelerator Program": A 12-week intensive program for e-commerce businesses, featuring website optimization, marketing strategy development, and conversion rate enhancement, with a performance-based refund option.
"Debt-Free Journey Plan": A personalised financial coaching service offering a step-by-step plan to debt freedom, regular one-on-one sessions, and a 'debt reduction or money back' guarantee within the first six months.
"Master Chef at Home": A culinary course with weekly virtual cooking classes by renowned chefs, recipe guides, ingredient delivery service, and a satisfaction guarantee with the first month refundable.
"Social Media Success Blueprint": An all-in-one package for boosting social media presence, including content creation, strategy sessions, monthly analytics reviews, and a performance-based refund if key metrics aren't met.
"Personal Brand Power-Up": A complete personal branding package for professionals, offering brand strategy sessions, professional photoshoots, website and LinkedIn makeover, with a satisfaction guarantee.
"Sleep Well Wellness Retreat": A luxury weekend retreat focusing on improving sleep quality, featuring expert-led workshops, personalised health assessments, and a follow-up coaching session. If sleep quality doesn’t improve, we’ll work with you for free until it does.
Case Study: Niche Down for Higher Quality Clients
Background
This case study focuses on an individual consultant specialising in leadership training for corporate teams. Despite possessing extensive experience and expertise, the consultant faced challenges in attracting high-paying clients and differentiating their services in a saturated market.
Challenge
The consultant's primary issue was a broad service offering that tried to cater to all aspects of corporate training. This broad approach diluted their expertise and made it difficult to attract clients looking for specialised training solutions.
Identifying a Niche: Leveraging the Million Dollar Offers framework, the consultant identified 'executive leadership training for tech companies' as their niche, capitalising on their background in the tech industry.
Developing a Tailored Offer: They created a specialised training program focusing on the unique challenges faced by leaders in the tech sector, incorporating elements like managing remote teams and fostering innovation. The product was simple, repeatable and the results predictable. This meant that they could create a really tight, simple to understand offer that sold itself.
Value-Driven Pricing: The consultant introduced a premium pricing model, justified by the specialised nature of the training and the high ROI promised to clients.
Crafting the offer: The company settled on the below offer:
"Tech Executive Leadership Accelerator": A specialised 12-week leadership training program for tech industry executives, focusing on unique sector challenges like managing remote teams and fostering innovation, complete with interactive workshops, personalised coaching, and a performance-based satisfaction guarantee
Results
Attracting High-Quality Clients: By niching down, the consultant began attracting tech companies looking for specialised leadership training, leading to more qualified and higher-paying clients.
Establishing Expertise: The focused approach allowed the consultant to deepen their expertise in a specific area, enhancing their reputation as an industry expert.
Increased Revenue: The specialised service and premium pricing model led to a 60% increase in revenue, with clients recognizing the value of the tailored training program.
Process Simplification: One of the unexpected benefits to the client was how much niching into a singular offer and market simplified all their business processes. Their proposals became drag and drop, their on and offboarding processes streamlined and their product delivery much easier.
Lessons Learned
1. Specialising in a niche can significantly enhance a consultant's appeal to a specific target market.
2. Tailored, high-value services justify premium pricing and attract clients willing to invest in quality.
3. Establishing oneself as an expert in a specific niche can lead to higher demand and increased revenue.
The result is a clear demonstration of the power of specialisation and targeted service offerings in attracting high-quality clients and boosting revenue.
Conclusion: The Path to Million Dollar Offers
You're now equipped to craft offers that not only resonate with your clients but also set you apart in the industry. Go and make your Million Dollar Offers and soon you’ll be helping as many clients as you can handle to solve their problems and fulfil their desires.
Need Additional Help?
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3. If you need more in-depth help, book into a $199 clarity workshop here: https://clevrcopy.com/book-a-consultation
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Voice Copy acknowledges the Gadigal people of the Eora Nation, the traditional custodians of the land on which we live & work and pay our respects to the Elders both past, present & emerging.