What’s a special offer exactly? Basically it’s any kind of sales promotion - discounts, coupons, freebies, prizes, etc. Special offers help attract new customers, retain previous event participants, and in many cases help counteract the competition, thus increasing the number of registrations for your event.
What Makes an Offer ‘Special’
What makes a sale promotion ‘special’ is that delicate balance, where both your organization and the potential customer benefit from an actual purchase. There are 4 main aspects of a Special offer you need to consider:
1. Define a goal for your special offer. What do you want to achieve with your special offer? Normally you’d want to acquire new customers, reward your existing customers, or simply increase your event revenue. Once you define the goal you’re ready to decide on how to meet it.
2. Calculate its profitability - as stated above you need to give good value, but without sacrificing profitability margins. This is probably the most important part of creating the special offer. It requires some calculations on your side to make sure the offer is healthy for your event revenue.
3. Make it attractive - when we say attractive we don’t mean flashy ‘SALE’ signs, although as we already said in the previous part of this chapter, they do help. Your customers will always know a good value offer when they see it. And they will always know a bad one! Your special offers should never be in the latter category. If you have doubts that your offer isn’t attractive - it probably is not good enough. Either rethink it or don’t make it at all. Just don’t make it too attractive to the point where it becomes unprofitable!
4. Give it some exclusivity - a special offer works best when it has an element of exclusivity. This is achieved by limiting your offer in one way or another - making it a timed offer, setting a maximum number of times it can be used, seasonal sales, returning customer promo codes, etc. Exclusivity is always good!
Addressing these 4 aspects properly is key to making a great Special offer. There are a number of ways you can utilize special offers for your event registration process so that it benefits not only the paying customer, but also your revenue.
What Makes an Offer ‘Special’
What makes a sale promotion ‘special’ is that delicate balance, where both your organization and the potential customer benefit from an actual purchase. There are 4 main aspects of a Special offer you need to consider:
1. Define a goal for your special offer. What do you want to achieve with your special offer? Normally you’d want to acquire new customers, reward your existing customers, or simply increase your event revenue. Once you define the goal you’re ready to decide on how to meet it.
2. Calculate its profitability - as stated above you need to give good value, but without sacrificing profitability margins. This is probably the most important part of creating the special offer. It requires some calculations on your side to make sure the offer is healthy for your event revenue.
3. Make it attractive - when we say attractive we don’t mean flashy ‘SALE’ signs, although as we already said in the previous part of this chapter, they do help. Your customers will always know a good value offer when they see it. And they will always know a bad one! Your special offers should never be in the latter category. If you have doubts that your offer isn’t attractive - it probably is not good enough. Either rethink it or don’t make it at all. Just don’t make it too attractive to the point where it becomes unprofitable!
4. Give it some exclusivity - a special offer works best when it has an element of exclusivity. This is achieved by limiting your offer in one way or another - making it a timed offer, setting a maximum number of times it can be used, seasonal sales, returning customer promo codes, etc. Exclusivity is always good!
Addressing these 4 aspects properly is key to making a great Special offer. There are a number of ways you can utilize special offers for your event registration process so that it benefits not only the paying customer, but also your revenue.
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