In 1960, Tom Monaghan entered the world of pizza. He did so with a single location called Dominick’s. When he tried to expand, the former owner refused to let him keep the name.
And so, Domino’s was born.
It wasn’t easy at the start for Monaghan. Pizza is a fiercely competitive business. Domino’s faced bankruptcy challenges and franchise disputes that almost buried the company.
However, one single promotional idea changed everything.
I’ll get back to that in just a moment.
Introducing the Irresistible Offer
Now I know some of you out there…in fact most of you out there…dislike the idea of selling. Well, that precisely the point of the Irresistible Offer.
It’s so irresistible it does the selling for you.
Some people confuse their Irresistible offer as a special offer. However, as Mark Joyner, author of the Irresistible Offer claimed:
“Special offers come and go. They’re made for the moment, not for the long term. The Irresistible Offer, by contrast, is central to product, service or company. It is the lifeblood. It simply cannot be separated by identity.”
You see, the Irresistible Offer cuts through the noise and clutter. It lets you stand out. It leaves your audience with little option but to take you up on your offer.
Dominos Irresistible Offer
30 minutes or less…or it’s free. That was Domino’s Irresistible Offer!
In the pizza industry in which Dominos operated, the noise was all around the product itself. The best dough…the freshest ingredients…the tastiest toppings.
But these are all things the customer expects. They should be a given. So, it’s difficult to stand out based on these elements alone. What Dominos did was create an itch that customers felt they had to scratch.
Would they really be able to deliver the pizza within 30 minutes?
The upside was a fresh hot pizza. And The downside?
Well, there wasn’t any. Because if the pizza arrived after 30 minutes and was cold, it was free!
It made doing business with Domino’s an easy decision. It created urgency and from Domino’s perspective, it, at least, gave them at a shot at impressing.
Sure, it was up to them to deliver delicious pizza but their destiny was in their hands. Without that leg in the door, they would have continued to struggle amid fierce competition.
It was the making of Dominos.
The company has since gone on to become a global corporation valued at $5.5 billion. They deliver 1 million pizzas worldwide, covering 10 million miles in the US alone.
Their reach is not just domestic either. Dominos operates almost 11,000 stores in 70 different countries. Over half of their sales are from overseas.
All because Monaghan chose to zig when his competitors were busy zagging. All kicked off with one simple Irresistible Offer.
30 minutes or less…or it’s free.
How to Craft Your Irresistible Offer
When creating your Irresistible offer, it's important to remember it applies to each product.
There are four key elements to keep in mind when creating your Irresistible Offer.
I’ll keep going with the Dominos example to make it more relevant:
1. Clear and Concise
- You have seconds to capture the imagination of your audience. Yes, SECONDS. So, your Irresistible Offer needs to be clear, concise and straight to the point. In Domino’s case, it was just one simple line.
2. Solve a Problem
- One of the most common ways to sell anything is to solve an existing problem in the marketplace. For Domino’s, the problem wasn’t tasty pizza, it was the delivery times of the pizza.
3. Satisfy a Desire
- Sell your market what they want…not what you think they need. For Domino’s, their market might have needed healthier ingredients. But, what they wanted was fresh hot pizza. So, the 30-minute offer satisfied this desire.
4. Remove Downside
- Risk is dangerous. Or at least, that's how we are conditioned to think. Hence, the reason why guarantees are a necessity rather than an option these days. Dominos not only guaranteed the pizza in 30 minutes. They also eliminated all downside risk by providing a full refund if they could not meet their guarantee.
Every business needs an offer. It’s amazing the number of businesses who fail to do this. What reason should someone choose you over their competitors unless they have reason to do so.
Don't ever assume that your value proposition is obvious to you customer.
Ensure it delivers on the four key points I mentioned above and you’ll be well on your way.
Concluding Thoughts on Irresistible Offers
Most businesses operate within competitive industries. If you are a lone entrepreneur, it's not easy to stand out. Regardless of how much value you offer.
The solution is to create an irresistible offer. An offer ingrained across every product you build. Every service you offer.
When creating this offer be sure to follow the 4-step criteria.
Be clear and concise. Solve your customers problem. Satisfy their wants, not what you think their needs are. Finally, remove any downside risk.