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Organize Your Offer |
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Tier Your Incentives
An important part of crafting a relevant incentive is being aware of the stage of the buying cycle that your prospect is currently in. For this purpose, we typically classify the buying cycle into three stages: early, middle, and late/final. It is essential to tailor your offers based on the stage of the buying cycle that your prospect is in otherwise they won't be compelled to act.
Early stage of the buying cycle: your prospective client is focused on identifying their pain and gathering information on what they need to resolve it. They are just beginning to familiarize themselves with the type of product or solution you provide, so your offer should be more educational than sales focused. Concentrate on delivering valuable content conveyed through white papers, events (live or web), newsletters, or assessments. If your offer is web-based, make it easy for the prospect to engage by creating links within the offer, such as "click here for more information."
Middle stage of the buying cycle: prospective clients review solutions and eliminate providers that least fit their needs. While they may be familiar with the appropriate technology, might not be familiar with the value your company adds. When targeting prospects at this stage, focus on providing offers that build the relationship and establish trust, such as special events, premium newsletters or case studies, demos or on-site assessments, or free trials.
Late/final stage of the buying cycle: final information is gathered, samples and demonstrations are tested, and purchasing decisions are made. At this point, the customer is ready to buy, but they may need a compelling reason to buy from you. An offer at this stage needs to concentrate on moving the prospective client in your direction. You could offer special financing, instant rebates, or manufacturer incentives. Bundling a purchase with training is a also a great way to get first time business that could lead to repeat purchases.
You’ve got the ball rolling, now bank the success of your promotion...
