Almost everyone knows about The Seven Dwarfs – Bashful, Doc, Dopey, Happy, Sleepy, Sneezy, and Grumpy – who liked to hang out with Snow White. And yet, no one ever mentions the 7 dwarfs of great marketing offers!
Like Snow White's merry band of miners, each of the marketing dwarfs has its own unique traits that adds value to the marketing offer as a whole. When all 7 of them work together, they have the power to create marketing offers that are nothing less than irresistible.
A leader of the troop, Rarity's main priority is to remind marketers everywhere that if there's one thing they should remember from their high school economics class, it's the law of scarcity.
One of the most basic economic principles and a crux of the laws of supply and demand, the law of scarcity can be summed up rather easily: The less of something there is, the more desireable it becomes. When it comes to crafting compelling marketing offers there are three approaches that play to this fact:
- Limited Time Offers - The most popular option, these offers leverage the power of, "Get it before time runs out!"
- Limited Quantity Offers - Similar, but thrives on the power of the unknown, "When will supplies run out?"
- Limited Time Quantity - A hybrid "best of both worlds," and a powerful one at that.
Newsy & Trendy
These two dwarfs of marketing offers go hand in hand. While they both share a love for all things newsworthy, trendy, and hashtag-able, each is a specialist in his own right.
Newsy is constantly checking the headlines and happens to be a master of the 21st art of newsjacking (you can check out the Hubspot Marketer's Guide to Newsjacking here). Newsy is constantly reminding the rest of the marketing dwarfs that by following the news and knowing "what's hot" it's possible for a marketer to craft an offer that's undeniably "hot," relevant, and right for that moment.
As for Trendy, he's an avid social media user who knows the power of the bandwagon and the bandwagon effect. Humans are social creatures; we like being a part of the group. As a result is we often have the tendency to copy one another without even realizing it.
His favorite way to super-charge a marketing offer is to highlight the number of people who have already taken it. An intriguing offer becomes all the more interesting when 30,000 people have already accepted it.
That being said, Trendy also acknowledges that his favorite tactic also comes with a catch. For the bandwagon effect to work the numbers presented have to be both true and believable.
Namey & Vocaby
Namey likes to recite Shakespeare, "What's in a name?" The answer (at least when it comes to marketing): Everything. He knows that a strong headline can make all the difference.
To borrow the words of Hubspot's Brian Halligan, "you can have a great offer with a bad title and no one will download it. But if you have an amazing title, suddenly everyone wants it." Whether you achieve it through A/B testing, trial and error, or tools like this headline analyzer – a great title makes all the difference.
Vocaby, who also loves and values words, hates traditional marketing jargon. In 2015, there are few things that turn away potential leads and customers faster than transparent, two-dimensional, and out-dated marketing nonsense.
Words and phrases like "cutting edge," "next generation," and "groundbreaking" have been used and abused so heavily and so often that they've lost their strength.
Journey lives, breathes, eats, and sleeps the buyer's journey. He knows that while an offer may be fantastic for people who are at one stage in the buyer's journey – it may be less than perfect for those who are at a different stage.
An offer that's build around a "Contact Us" CTA can be perfect for an individual who's further along in the process, but for those who are just starting the journey, it's important to provide offers that speak to their unique needs – whatever they may be.
Typically, those who are at the top of the funnel will respond better to information based components, such as e-books and guides whereas someone near the bottom of the funnel will usually be more interested in offers that include free trials or demos.
Last, but by no means least, Worthy knows that increasing certain features have a greater capacity to increase the value of a marketing offer than others. If it's going to be taken seriously, a marketing offer has to be worth the offeree's time.
Here are a few of Worthy's favorite high-value features (beginning with those that perform the best):
- Guides and E-books
- Presentations and Templates
- Reports & Research
- Multi-Offer Packages
- Sidebar Offers in Blogs
- Blog Posts with CTAs
- "Middle-of-the-Funnel" Offers (ie: sales-ready offers)
One Happy Marketing Family
Each of the 7 dwarfs of marketing brings his own unique interests and insights to the table. While each member of the family can stand alone, the real marketing magic happens when they come together to support an irresistible marketing offer.