Are you ever frustrated waiting for people to make a decision about participating in an event, sponsorship, advertising in the newsletter or buying a ticket to a big function? Do people tend to wait until the last minute to make a financial commitment to something you are promoting or supporting?
Direct Marketing 101 is a simple, effective and very powerful tool to get people “off the dime” and get a decision from them. Businesses that use this “tool” properly increase sales and profits almost instantly…so can you.
b I know that it sounds way too simple but let’s take a closer look and see how we can apply it at the Association.
The goal in using this three step process – “offer, enhance it, deadline” is to eliminate one of the toughest responses to overcome and you know what it is – “I’ll think about it”. How many times have you heard that phrase? How do you respond? Don’t you wish you get a simple “yes” or “no” and move on?
Before we go on it’s important to understand something. There are two kinds of manipulation. There is “negative” manipulation when trying to get someone to take an action or make a decision that is not in their best interest. I don’t ever recommend using Direct Marketing 101 for that purpose. But, there is also something called “positive” manipulation. Some people need to be “nudged” in the right direction to make a decision even if it is clear that it will be in their best interests. Other people (like me) tend to put decisions off until the very last minute. If you know that the offer you have (sponsorship, membership, event participation, etc.) is a good one and will be valuable to the person or company you are presenting it to, it’s OK to use a little “positive” manipulation.
Here is a quick overview of how to use Direct Marketing 101 when presenting a sponsorship offer:
When selling sponsorships you must always have a clear offer. An easy way to create an offer is to write a “top 10” list. Just make a list of ten ways (more or less) the sponsorship you are offering will benefit the “prospect”.
Once you have your offer, the next thing that you need to do is “enhance” the offer (make it even better). The way to do this is to create a special “bonus” package that includes extra benefits that have a high perceived value but a low “cost” of goods. This package may include a free ad in your newsletter, a “seasons pass” to your Membership Meeting, an additional smaller sponsorship (create one if you need to) to another non-related event or even waiving membership dues for a year (depending on the sponsorship investment). The goal is to create a package of “extras” that make the value of the sponsorship “far exceed the price”…kind of like a “but wait, there’s more!” Lastly, here is the “key” to this whole process. You have to have a definite deadline for a response in order to give them the “enhancements”. Creating the deadline is a way of applying gentle “positive” manipulation and getting a decision much faster. All you have to do is follow these three steps:
1.) You present your sponsorship offer and the necessary financial investment with your “Top 10” list of benefits…not just features. Make sure the value exceeds the price and explain why.
2.) Present the additional “bonus” package in detail and the true value in dollars that it represents.
3.) Explain that in order to receive the additional “bonuses” that you must have a decision by a specific date and explain why. Your reasons will vary from offer to offer.
If you are offering a sponsorship, the reason for the deadline to get the bonuses can be as simple as “by getting your commitment early we can focus our energy and resources on creating the best event possible instead of on selling sponsorships so we are offering the “extras” to get a faster decision”. Isn’t that the truth? Another reason could be that “the faster we get our sponsors in place the faster we can start producing marketing materials and avoid last minute “rush charges” from suppliers”.
Be completely honest about why you are willing to offer “enhancements” for a quicker decision.
If you apply the Direct Marketing 101 Tool consistently to your offers you can not only get faster decisions and “eliminate” the “I’ll think about” response, in many cases you can raise the “investment” as well.
Make a list of other things you “sell”. Then think of ways to use Direct Marketing 101 to make the process faster and more profitable. Whether it’s selling ads in the newsletter, event tickets, golf event participation, Parade of Homes, PAC fundraising, Business EXPO, Trade Show or anything else – Direct Marketing 101 is a great tool that you can use to get the results you want.
“Make the offer, Enhance the offer, Put a deadline on the offer” = Direct Marketing 101