Profit

Lifetime value of the customerbenefits over featurestrust is essential to successknow your target market

Can also be used to motivate customers and prospects to fill underutilized capacity.Work out the value of the customer over their lifetime.

Goal is to:1. Call out your targeted prospect2. Enable you to educate them in detail on the unique benefits you providepowerful if your product or service requires an educational sell

Designed to pinpoint prospects when fulfillment costs are high and therefore not wasting on unintended parties.

Can reduce the cost of the purchase in the buyers mindDesigned to achieve 3 things1. it acts as a huge value add over the competition2. Keep profit at its full amount3. Improves value to the customer.Free gift should compliment the purchase.

1. motivate prospects to try your products or services in order to demonstrate the benefits you provide - use if repeat in nature or have a high lifetime valuee.g. free haircut, tax return, first visit.Good if have underutilized time

e.g. vacuum cleaner

when the prospect needs your help to understand that they have a need.Powerful for two reasons1. creates customers who weren't wouldn't have purchased either from you or your competitor.2. You become the obvious choice for the work.the promise is "you MAY be able to significantly benefit the prospect with a SMALL EFFORT on their part.e.g. free insurance evaluation, free water testing, mortgage refinancing, blood pressure test.doesn't have to be free just an irresistible offer.

Keys1. provide actual value to each attendee2. demonstrate the benefits to the prospect will derive from buying your product or servicePut value on ticket and give away.this method is more difficult than three other methods

to expand your customers purchase patterns

the gross profit must be greater than the price of the bonus.e.g. if average transaction is $15 then bonus if spend more than $25.

e.g. if bring car in for service at the desired level receive a 10% discount