With Thanksgiving, Black Friday and Cyber Monday, not to mention December, around the corner, consider the below…
Which of the below would you want to see in an offer?
- 50% off!
- Buy One Get One Free!
- Half Price!
Now consider the question from your ideal client’s perspective? Does the answer change?
For me, it depends on:
- What’s being offered (does it have an expiration date)?
- What’s the original price?
- Can I use it or will it sit until some point in the future when maybe I can use it?
I was reading an article recently that stated while these are three different phrases, they’re all identical in meaning.
Mathematically that’s correct. The final cost of each individual “thing” is the same:
- 50% of $1000 = $500
- Buy One Get One Free = You invest $1000 and get two items, so they’re $500 each
- Half Price of a $1000 item = $500
The article went on to state that most people prefer #2, the BOGO option.
And while the marketer’s/salesperson’s perception is that these three phrases are identical in meaning, to the person with $750 to invest, they’re no longer identical regardless of the math or how attractive BOGO may be.
When creating an offer, be sure to consider it from all sides: Where are your ideal clients at right now? Does BOGO make the most sense for them at this time? For the “thing” that you’re offering?
Or does another option best serve in this instance?