How To Craft An Offer Your Leads Can’t Resist

The Importance of Leads and Offers

Before exploring the tactics, it’s crucial to establish a common understanding of leads and their significance. In the MarketSpace business model context (For example DropDesk), leads can be defined as potential Hosts interested in listing their spaces on your platform or potential Users looking for unique spaces to book from. These leads represent potential customers who, when converted, contribute directly to the growth and success of your two-sided Marketplace.

Offers play a critical role in attracting and converting leads at various stages. An offer is essentially a value proposition presented to potential customers, outlining the benefits they receive in exchange for their engagement, whether listing a space or booking a workspace. 

The success of your business hinges on your ability to craft compelling offers that resonate with your target audience (ultimately incentivizing them to take action).

How To Crafting Effective Offer: 

The effectiveness of your offers depends on several factors:

• Identifying The Right Target Audience: If you target the wrong audience with a great offer, the offer won’t work.
• Understanding who your ideal Hosts and Users are, what motivates them, and what pain points they face. This information allows you to tailor your offers to their specific needs and desires, increasing the chances of sale.
• Sending an offer at the appropriate time when a lead is (Warm) and ready to buy. In other words, send offers to those who are aware of your business and have expressed intent to buy.
• Having a well crafted offer that provides value to the lead upfront.
• Your offer should have ONE clear call to action.

1. Start by segmenting your leads. Identify what Hosts and Users you are looking to target through your marketing efforts. What are their pain points? Where do they spend their time? What are some objections you might face?
2. Do you have an existing community or leads list? Segment your list of Hosts and Users into Warm and Cold Audiences.

Host Segmentation

• Identify and Target Your Ideal Hosts: Start by pinpointing the types of spaces and businesses that would benefit the most from your MarketSpace. Consider factors like:
  
  • Space Type(s): Offices, coworking spaces, meeting rooms, event spaces, restaurants, retail spaces.
  • Location(s): Focus on areas with high demand for flexible workspaces or event venues.
  • Target Audience Alignment: Choose spaces that align with the types of users you aim to attract.
  • Research where you can find Hosts (publications they read, other places they list, directories, or aggregators).

User Segmentation

• Identify and Target Your Ideal Customers (those that book space): What customers would value booking from your Marketplace? Consider factors like:
  
  • Focus on what problems you intend to resolve. This involves going beyond basic demographics and understanding. Addressing everyday needs can attract a broader range of customers. 

The Composition Of a Great Offer

Crafting an effective offer involves strategically applying Tactics of Influence to motivate action. These 7-principles (below) can be leveraged to create compelling offers that resonate with both hosts and users.

• Reciprocity
• Scarcity
• Authority
• Consistency
• Liking
• Social proof
• Unity

For example, reciprocity can be applied by offering hosts free marketing resources or onboarding support in exchange for listing their space.

Scarcity can be highlighted by promoting limited-time discounts for users booking early.

Establish authority by showcasing success stories and expert insights, positioning as an expert resource.

Reinforce consistency by encouraging both hosts and users to start with small commitments, like listing or booking for a day, leading to larger, long-term engagements.

Liking is achieved by personalizing the offer—crafting tailored messaging that speaks to the specific needs of local venues or remote workers.

Social proof can be displayed by sharing reviews and testimonials from other hosts and users who have had positive experiences with your service.

Finally, emphasize unity by fostering a sense of community, connect like-minded individuals and businesses with shared goals.

Besides applying tactics of influence, additionally make sure to:

• Highlight Value: Your offer needs to clearly communicate the value proposition for both Hosts and Users, going beyond simple features and focusing on the benefits they’ll experience. For Hosts, this could mean emphasizing the potential for increased revenue, access to a wider customer base, and simplified management tools. For Users, this could involve highlighting the flexibility and convenience of on-demand booking, cost-effectiveness compared to traditional office spaces, and opportunities for community and networking.
• Creating a Sense of Urgency: Incorporating elements of scarcity and urgency in your offers can encourage potential customers to take action sooner rather than later. This only works for Leads that fully understand your value proposition. 
• Addressing Potential Objections: When crafting your offers, anticipate and address potential objections that Hosts and Users might have. For example, if a Host is hesitant about managing bookings, emphasize the platform’s automated booking and communication features that simplify the process. If a User is unsure about committing to a monthly membership, offer a “Free Onboarding” period to showcase the platform’s value firsthand and only activate their membership when they are happy.

These tactics ensure that offers are persuasive, targeted, and more likely to drive engagement from both hosts and users.