How (and Why) To Create a "Hook": PART 1

We're continuing our thoughts on the idea of how to increase foot traffic in our business.
Specifically, how we convert that foot traffic into paying customers.
Last week, I mentioned that we should provide three things in our marketing efforts:

1. a “hook” to get them into the store
2. an in-store experience that confirms their decision to shop with us
3. a way to re-target and re-engage them afterwards

Today, we'll be focusing on what I mean by a “hook” to get them into your store.

A HOOK IS A VERB.
First of all, a “hook” should be just that: something irresistible that people feel they cannot pass up.
It hooks them in! It grabs their attention!

Most businesses fail miserably at creating an irresistible offer. And here's why:
They've been burned in the past by giving away profits in attempts to gain leads or customers.

So, they anxiously offer “10% OFF” or “$5 OFF $50 or more” in attempts to prevent those nasty old “coupon chasers” from taking advantage of them again.

But let's be real...10% is not a “hook.”
It's not irresistible.
It's basically sales tax.

Here's what really happens when you offer 10% OFF:
Since it's not an enticing offer, chances are the only people who will take advantage of it are people who already shop with you!

These are people who were already prepared to pay full price for your product or service!

So, you effectively give away 10% of your profit and gain no new customers.

I get it. I've been there, done that.
That's why I'm writing this. So you don't make the same mistakes, too.

What I've learned is to focus on creating something so truly valuable that someone (by all rational thinking) would be crazy to pass it up! This will actually grab people's attention and call them to action.

And guess what? The more irresistible the offer, the more buzz it gets.
Existing customers tell their friends.
New people who got the offer tell their friends about it.
Everyone wants it and everyone talks about it.
You get fresh foot traffic into your business and (if you create that affirming experience around it) you get new customers who are so impressed with your business, they come back!

THERE MUST BE A REASON.
The second guideline in creating a hook is this:
There must be a REASON for your offer.

WHY are you offering something in the first place?
The best reasons are real and honest.
Here are two examples:

“You've probably driven past our store a million times, but have never been in...so we want to offer this gift card to you so that you'll have a chance to stop and shop!”

“We've got a new coffee mug that is guaranteed to keep your coffee warm for 9 hours! I want you to know that it really works – so come in this Monday and get 40% OFF your first mug!”

In these two scenarios, the reasons are real.
The first example business has obviously been around for a while.
The business feels like tons of people drive by, but just haven't stopped in yet. So, the “reason” its giving away a gift card is to give you a reason to finally stop instead of driving by!

The second example is a business that wants people to know about something specific it offers. This is best used when you think the particular product (the mug in this scenario) could be a “gateway drug” of sorts to the rest of your products or services.

For example, if you own a paint store, you offer a FREE gallon of paint.
Sounds exciting for anyone contemplating a quick DIY project over the weekend.

But you offer a free gallon, knowing full well that most projects need more than just one gallon of paint to be completed. Oh, and by the way, be sure to grab some extra drop cloths, paint trays, and brushes.
You just turned that FREE gallon into a $75 sale!

THERE MUST BE AN EXCHANGE.
This is the most important guideline that nearly every business owner misses when creating an offer. It's one that can make all the difference. Creating an “exchange” is how you protect yourself (and your offer) from getting abused. Creating an “exchange” is how you can leverage an offer into a profit!

Offers are simply a mode of exchange between you and a potential customer.
We are not just giving something away, incurring all the expense, and gaining nothing in return.
An offer is a two way street!
If someone wants what you have to offer, then they should be willing to give you something in return.

Normally, in our world, that's money.
Here, we're creating a “hook” to get people into the store.
So, we'll view that exchange in the form of information a potential customer is willing to give us. The beautiful part to all this, is that the better the deal, the more information we're able to get!

Someone might be hesitant to give you their email address in exchange for a 10% OFF coupon. But, I guarantee they will happily supply it in exchange for a $20 gift card!

In fact, if you've created a really irresistible hook, they'll probably give you anything you ask for:
full name, mailing address, phone number, & email!

THIS is where the money is: present value & future value.
You will have created present value in the form of sales when people redeem your offer. You will have created future value by attaining their personal information.

Not only will your offer get people through your door and into your store (present value), but you will have created a database of people who are most likely to become repeat customers (future value)!

So there you have it, the most important three guidelines for creating your own “hook.”

In the next post, we'll cover how to create an affirming experience.
One that confirms your potential customer has made a smart decision by grabbing your offer and coming into your store.

This is how you turn something FREE into a sale.