Episode 240
Building a Profitable Offer Suite: 5 Essential Steps [Ep. 240]
In this episode, I outlined the importance of having a well-structured offer suite and how it can cater to various stages of your client's journey. From DIY options to one-on-one services and everything in between, we discussed how to strategically design offer suites that not only meet the clients where they're at but also provide upsell, downsell, and cross-sell opportunities.
Key Takeaways:
- Definition of an Offer Suite: A suite of offers that serve different client needs and preferences at various stages.
- Types of Offer Suites: DIY, done with you, done for you, group programs, one-off projects, retainers, and more.
- Serving Different Stages: How offer suites can cater to clients at different points in their business journey.
- Upsell, Downsell, and Cross-Sell Opportunities: Creating paths for clients to stay engaged with your services.
- Creating Lifetime Value: Increasing the lifetime value of clients by having a clear next step.
Action Steps:
- Review Your Buyer Journey: Identify where you might be losing clients and look for gaps in your current offers.
- Determine Your Offer Preferences: Decide which types of offers you enjoy providing and which ones you don't.
- Strategically Create or Revise Your Offer Suite: Develop offers that are interlinked and provide a clear path for clients to progress.
- Implement and Promote Your Offer Suite: Even if you have preferences, keep a variety of entry points to cater to different client needs.
- Focus on Client Needs: Determine what your clients frequently ask for or struggle with and tailor your offers to meet those needs.
Links and Mentions:
VIP Days: If you need help creating your offer suite, I have spots available for VIP days. Use this dedicated time to work on your offers, positioning, marketing, and sales.
Money Mondays: Join "Money Mondays" for just $9 a month. It's a focused, co-working hour every Monday to help you commit to your money-making activities. Exclusive to podcast listeners and my email list.
Episode on Creating a Client Journey: Revisit our previous episode on creating a client journey for more insights on how to incorporate that into your offer suite design.
Keywords:
offer suites, client journey, DIY offer, done with me, done for you, group program, one-on-one consulting, VIP day, offer positioning, marketing, sales, upsells, downsells, cross sells, freelancing, lead nurturing, accountability, implementation, strategic planning
Transcript
Hello, my friends. Happy Wednesday. Well, at
Speaker:least Wednesday is the day that this releases. I don't know what day you're listening,
Speaker:but Wednesdays are the day that it came out. So I'm going to say happy
Speaker:Wednesday. Today we're talking about offer suites. This
Speaker:is something that I work with many,
Speaker:many clients on and creating that offer
Speaker:suite and looking at what should your offer suite
Speaker:be? And so, first of all, an offer suite
Speaker:is basically just a suite of offers,
Speaker:right? Like, it's like a platter of different offers. And there's different ways that you
Speaker:can look at your offer suite. So typically, some of
Speaker:the most popular ones would be like,
Speaker:DIY. Done with me, done for me. DIY.
Speaker:A group program, one to one project versus
Speaker:retainer versus, you know, something like that. Like a one off
Speaker:project, a retainer project, or a repeat
Speaker:project. So, like, where they keep coming back on a project rate, something like that,
Speaker:you know, so the thing about it is, is obviously they're not all a good
Speaker:fit for you. And so that's part of what you need to think about when
Speaker:you're looking at creating an offer suite is what is
Speaker:my buyer journey, right? So remember going back to that
Speaker:episode on the creating a, a client journey,
Speaker:this. This plays a big role in it, all right? But offer
Speaker:suites, ideally are just complimentary
Speaker:services, products, services, and they are designed to,
Speaker:like, address different needs and preferences at a different time. Right?
Speaker:So if you have a diy done with you, done for
Speaker:you. So let's say you're a freelancer, you know,
Speaker:you could have a DIy option. Maybe it's templates,
Speaker:and then done with you is maybe templates plus help, you know,
Speaker:doing that. And so the client has some onus. They're having to actually do stuff,
Speaker:and maybe you're reviewing it and then done for you. Obviously, they would
Speaker:just buy your time and you would just do it for them.
Speaker:It could look like DIY group one to one, right? So that's kind
Speaker:of my offer suite right now is there's some DIY options,
Speaker:and then there's the group program, which is my mastermind, and then
Speaker:the one to one, which is either one to one
Speaker:consulting, or the VIP day, which if you're interested in a
Speaker:VIP day creating offer suites, hint, hint, wink,
Speaker:wink. That's really what the vip day is for, is to work
Speaker:on offers, positioning, marketing, sales, et cetera.
Speaker:But again, like, you see where they serve different people at different
Speaker:times, right? And also they're complimentary. So somebody may
Speaker:be in the group program, in mastermind and then need to
Speaker:add on one to one. Right, I have that. Or they wanna maybe do a
Speaker:more strategic deep dive and they add on a vip day. Or they
Speaker:start off in the DIY focused, visionary framework, they buy
Speaker:the DIY version and then they need a one on one. Or they go into
Speaker:the group mastermind. Right. And so they're complimentary, but at the end of the
Speaker:day, they serve people at different times. So they all, most of
Speaker:the time serve the same audience, but they're going to serve them at different
Speaker:places in their business. Right. And so they
Speaker:also allow for upsells and downsells. Right, upsell down
Speaker:south. So if you have, maybe you lead with your
Speaker:done for you offer and somebody says, oh, I'm sorry, that's out of my budget,
Speaker:that's okay, great. Now I also have it done with you, which would, you
Speaker:know, fit your budget a little bit more and would allow us to work together.
Speaker:Right. And so. Or the better part
Speaker:about offer suites is that it would be a next
Speaker:step. Right. So they come to you. So for me,
Speaker:my example is, you know, somebody may come to me for a
Speaker:one to one vip day and then I have a
Speaker:rapid fire retainer. Right. And so it's a next step. It's like, okay, we
Speaker:created this plan. You've got this new offer, you've got this new offer suite, you've
Speaker:got this new positioning, but we haven't tested it, we haven't implemented it, we
Speaker:haven't done anything. And as you do that, you're going to need some support. And
Speaker:so the retainer option is a great way for them to
Speaker:continue working with you, give you them that next step and keep them in your
Speaker:world, right, because you've already started the process with them. So
Speaker:if you are a designer or let's say a freelancer
Speaker:and you, let's say you do graphics with them, maybe
Speaker:you've done like a full brand package. You know, do you have a retainer option?
Speaker:That is graphic updates or web designers maintenance, you
Speaker:know, web updates, something like that. So, you know, there's so
Speaker:many different options for offer suites, but the whole
Speaker:point of them is that a, they meet people where they're at and they give
Speaker:people different options to work with you at different places and
Speaker:they create upsell down sell and cross sell offers, right.
Speaker:And so how you can do this
Speaker:and really strategically set this up is that you
Speaker:have all of these different entry points,
Speaker:right? So you've got to look at an offer suite from this
Speaker:perspective of like, how do people work with me again, going back
Speaker:to that buyer journey. What is the buyer journey? Do they
Speaker:want to come in through a workshop? Do they want to come in through a
Speaker:masterclass? Do they want to come in through a Diy option? Do
Speaker:they go straight for the done for you option and you don't really need that,
Speaker:right. Like, understanding and looking at your ideal client
Speaker:and also what you want to offer. If you hate doing a
Speaker:done with you version, right, then don't offer it. It's
Speaker:diy or done for you. I'm not going to step in the middle.
Speaker:Right. Like, you get to choose that, too. And so really
Speaker:looking at, like, what are the different entry points? And then
Speaker:how do each one of these cater to different individuals? How do they cater
Speaker:to different clients, different, um, leads? And
Speaker:at what point? Like, do they all work together? Right.
Speaker:Like, some people have offer suites that actually cater to a
Speaker:completely different audience. Right. The ideal client for each offer is
Speaker:different, or the stage of the client is different.
Speaker:So, like, if you have maybe
Speaker:a diY, or maybe your offer is like, kind of
Speaker:like a step one, it's like a prerequisite, right. And then maybe it's for people
Speaker:that are brand new or they're newer to whatever you're offering, and they have
Speaker:to go through this, and so then it moves them up. Right. And then you
Speaker:have this middle tier offer, which is for more advanced business owners. And then
Speaker:step three is more like
Speaker:scaling. Right? So you could look at your offer suite that way, too. If you
Speaker:want to serve people at each stage of business, you could look at and go,
Speaker:okay, what offer do I have for people that are newer? What one
Speaker:caters to the people that are, like, in this stage. And then what one caters
Speaker:to the people that are really scaling and ready to move forward. Right. So you
Speaker:could have your offers cater to all of the same audience, or they could
Speaker:be where they serve different audiences at different times. Okay.
Speaker:And then one of the other really, really important pieces to creating
Speaker:offer suites is that they create lifetime value.
Speaker:They increase the lifetime value of a client because
Speaker:there's a next step. Right. So many of
Speaker:you that I see and work with on a regular basis in the things
Speaker:that I hear in the masterminds and in the, the
Speaker:mastermind that I participate in, the one I host and facilitate,
Speaker:is like, you don't have a next step, right. People
Speaker:are coming to you, they want to keep working with you,
Speaker:and you just don't have a next step for them. And so
Speaker:you're losing clients. Right. And so you're on this very much
Speaker:this project base, or they're like a one time client, they may come back
Speaker:eventually, but they don't. And it's a lot of times because there isn't
Speaker:a way for them to continue to be in your world.
Speaker:And without that, you are going to lose them. Right. Like,
Speaker:that's just the reality of it. So, like, think about if you don't have
Speaker:this next step, the easiest way to do this is to really look at and
Speaker:ask yourself, like, while I was working with them, what
Speaker:is the one thing that they kept asking me for? What
Speaker:is the one thing that they always needed or how did I help them
Speaker:the most, right? So a lot of times for me, it's that simple.
Speaker:Accountability. People need and love the accountability. And
Speaker:they also need the ability to go, I don't know what to focus on.
Speaker:Right. Like, I have all these things, Michelle, on my plate, you know, I'm trying
Speaker:to do all these things, tell me what to focus on. Right. And
Speaker:so that's how I tailor my retainer
Speaker:package is it's one call to figure out what the
Speaker:focus is for the month, and then everything else is
Speaker:strictly implementation and accountability. Yes, there's those
Speaker:pop up little strategy things that happen or a client issue or a new
Speaker:opportunity or something like that, but primarily is implementation and
Speaker:accountability. Right. And keeping people focused and on track.
Speaker:So think about that. Like, what is it that people are struggling
Speaker:with? What are they asking you for all the time? What do they
Speaker:need from you? And then do you want to create that, you know?
Speaker:Or is it that they buy sessions from you, right. Or something
Speaker:like, like, whatever it is, is, like, what does that next
Speaker:step look like for your clients? And also in
Speaker:a way that you love to serve, which is one of the most
Speaker:important things, is do not create a retainer offer if you don't
Speaker:like to be. If you don't like having clients on retainer,
Speaker:don't create a done for you offer if you don't like having, you
Speaker:know, to do done for you. Don't create DIY offers if you hate
Speaker:selling them. Right? I mean, DIy things
Speaker:are not my favorite way to serve and sell. I have a couple on
Speaker:my website. I often don't
Speaker:promote them because I just like. I don't know.
Speaker:I like that. I like being able to serve my
Speaker:community. I like being able to answer questions. I thrive on
Speaker:community. And so the DIY, like, I love it for
Speaker:people, and I offer it because I know some people really prefer that.
Speaker:But it's not my go to, but I have it there. If
Speaker:people can't afford it or they're not
Speaker:ready to invest or they want to get a taste of what it's like to
Speaker:work with me. Right. So, again, like, it's not part of my active
Speaker:selling plan, but it's there because I.
Speaker:I see a need for it, and I see that people want it, and it's
Speaker:a great entry point. Right. So it allows for people
Speaker:to get a taste and have that entry level,
Speaker:um, exposure to
Speaker:me without committing to something larger.
Speaker:Right. So, again, it's not part of my big time marketing plan, but it's there.
Speaker:So, I mean, there's a lot of different ways
Speaker:that you could create an offer suite, but ideally, it's the
Speaker:three key takeaways here for you. And the things to take action on are
Speaker:looking at, like, what is your buyer journey and where are
Speaker:you losing them? Right. And if you're losing people,
Speaker:maybe in the beginning of the buyer journey, because your packages are too large
Speaker:and they're not ready to commit, then can you create something where they
Speaker:get, like, a taste? If you're losing people
Speaker:after a project and they're, like, a one and done, do you have
Speaker:a next step retainer or, like, something that will keep them on long term?
Speaker:If you're losing people because they
Speaker:prefer to do things themselves and you don't have a diy offer, do you want
Speaker:to create one? Right. So you've got to look at your buyer journey and really
Speaker:look at, like, where are you losing people? And where is, like,
Speaker:where's the gap? Or the hole in your offers to.
Speaker:And then looking at, do I want to fill this hole?
Speaker:Do I want to fill this gap, right. Or not? And then, if so,
Speaker:how. How do I want to fill the gap? How do I want to,
Speaker:Phil, you know, what is this next offer suite?
Speaker:Because there's money on the table. This is what I talk about all the time.
Speaker:The hidden money. Right? Like, there's hidden money in your business. I
Speaker:guarantee you, you there's somewhere in your client journey
Speaker:that you are losing people. That is a incredible
Speaker:opportunity for an upsell, a down sell, or a cross sell,
Speaker:right? But you just got to look at it. You got to really kind of
Speaker:just think about, like, where do I feel like I'm losing leads? Where
Speaker:do I feel like it drops off? Or where do I feel like I'm leaving
Speaker:them high and dry or hanging? Like, what's the next step? I want more from
Speaker:you, but I don't know what to do. You know, what does that look like.
Speaker:And then create the offer and start selling
Speaker:it. Start selling it. Like it's that simple. Like, hey, I know
Speaker:that we work together here. I have this new offer. I thought of you first.
Speaker:I just thought you'd be interested in it, right? Or, hey, I know we
Speaker:reached out. My other offer wasn't a good fit. I created this DIY version.
Speaker:I wanted to at least let you know. Right. Like, so you have, like,
Speaker:an immediate pipeline of people that probably already and waiting for this.
Speaker:They just don't know it, and you just haven't figured it out yet. So
Speaker:figure out where the gap is. Create that offer. Maybe you.
Speaker:Maybe you don't know what it is. Maybe you're at a point of capacity, too,
Speaker:and it's time to scale. You can't take on any more one to one
Speaker:clients. Or you did the group program and now
Speaker:you want to go back to one to one. Or you're at a group, you
Speaker:want to add on a group or a membership or something like that, and there's
Speaker:like another piece, you know, like even
Speaker:something simple and small. I saw a gap in where
Speaker:my clients need that dedicated co working time.
Speaker:They need that focused, committed time to their
Speaker:money making activities, which, by the way, if you haven't checked out
Speaker:money Mondays, it's $9 a month. $9 a month
Speaker:for unlimited. Like, every single week on Mondays, we meet for an
Speaker:hour and we bang it out. Like, it's
Speaker:just get the work, you know, get in, get out, get the work done, and
Speaker:then it's done for the week. And I'm not promoting that offer
Speaker:on socials at all. That offer is specific to
Speaker:podcast listeners in my email list. That's it. So I'll make
Speaker:sure the link is in the show notes. But, like, it was a gap. It's
Speaker:not a huge, obviously, it's not a huge money maker for me, but it's
Speaker:something I was already doing. I was already doing it,
Speaker:and people love it. They're getting results from it. I see
Speaker:a need for it. I could promote it on my socials, but it's just not
Speaker:part of my plan right now, you know? And so maybe it's an
Speaker:exclusive offer, you know, to me, that's what I want to keep.
Speaker:Money Mondays is like, it's exclusive. It's exclusive to you as
Speaker:a thank you. And if you have this gap and you're seeing this and, like,
Speaker:you want that co working space and you thrive on community as well,
Speaker:then come on in. Right? So it could be
Speaker:something small. It could be a big offer. But, like, the whole point
Speaker:is that you have this suite of offers to
Speaker:just give people options. It gives people
Speaker:options. And yes, I know there's some people that say, like, pick one
Speaker:offer and stick with it and get really good at it and sell it, and
Speaker:sell it, and sell it and sell it. But I know,
Speaker:at least for the people in my world and the ones that I deal with,
Speaker:myself included. And if most of my ideal clients and listeners are
Speaker:people just like me. Right? That gets so
Speaker:freaking boring, right? Most of us do not enjoy
Speaker:selling the exact same offer over and over and over and over and
Speaker:over and over and on washrooms. Repeat. Right? Like. And also, like,
Speaker:what's the evolution in that? You know, there's always something next. There's
Speaker:always another step. There's always something more. Yes, every offer
Speaker:needs to be sold. But that's why if you create it strategically as a
Speaker:suite, they lead to one another, right? They're not just three
Speaker:off the wall freaking offers that, like, don't go together.
Speaker:They're. They're a suite of offers that feed each
Speaker:other. That's the whole point, right? This one feeds to this
Speaker:one. This one is a downsell to this one. This is a great upsell. This
Speaker:is a great cross sell. Like, you know what I'm saying? Like, that's what. It's
Speaker:very strategic. It's not just about creating some random new offer that has
Speaker:nothing to do with anything, okay? It's about finding the gap and filling
Speaker:that. All right? So I'm going to end it there. I love you. I believe
Speaker:in you. If you need help creating your offer suite, I've got spots on my
Speaker:calendar for the vip days. Check it out, and I will talk to you soon.
Speaker:Bye.
