One Time Offer – The Concept, Needs and Application

The prospects flow through districts phases before they become an actual buyer. Sales driving initiative like the one time offer paces up the transition of the prospect that is decided on availing the product and/or services to the buyer, who actually purchase the item.

The flow of consumer behavior process is complex and critical. From the time the availability and the existence of a product or a service to the time while the actual sales matures, there comes several sub-stages where the prospects feel the necessity of the product or the service and they eventually decide to pick the product. Offering a scheme of appealing and exciting one time offer, business houses can reduce the time span between the phase the prospects decide to avail the product and the time phase by which they avails the product.

What is an OTO?

As the name do suggests, the schemes of One time offer is offered for limited time and its purpose is to make the prospects excited and convince them on the necessity and the utility of the product or the service. Even if the prospect makes up the mind to avail the product, there comes arrays of considerations in his or her mind as whether if the product would serve utility, the qualitative aspect of the products, the chances by which the purchase can match the expectations etc. The consideration of the budget of the prospects and its matching with the pricing of the good is yet another perspective is a important parameter to convert the decision making stage to the actual sales. Putting a really appealing and exciting one time offer, you can create a feeling in the mind of the prospects that in case they are not picking the product upfront they would not only deprive themselves of a quality experience but also the special deal that they are getting upfront can never be availed if they miss the deal this time.

Why the sellers need to undertake such schemes?

Observations accounts for the data that more is the lag between the decision making and the actual purchase phase, there are more chances that the prospects can decide not to avail the product. One time offer actually serves to makes the transition between the stages smother and most importantly, within lesser time frame. Business intelligence states that truly appealing one time offer schemes suffice even to convert the bottom line prospects to an actual buyer faster. The average time it takes for the conversion of the prospect to the buyer, is a critical phase in the marketing funnel. It is because till he time the products are getting sold, the major count of the capital would be stuck in as stock in trade and similarly, the upkeep of the stock raises the inventory costs for the business. It implies that the business houses would be required to spend more and thus the margin of the profit keeps on getting thinner. One time offer would make the prospects to hurry through the transition phase so that they go for the actual purchases faster and thus, you would be able to liquidate your stock much faster.

One time offer- Its all about playing a mind game

One time offer shows wonderful results in converting the prospects to a buyer at brisk pace. Even if the buyer decides to avail your products and services, several considerations runs in hi mind as to what extent your product and service can satisfy him, whether if he would get a better deal on similar products, the qualitative standing of your product and services etc. Once you put a diligent one time offer, the positive feeling running in the minds of the prospective customers would get excited to an extent that the apparently negative considerations get superseded by the enthusiasm and eventually the prospects tale the least of the time for getting converted to an actual buyer. Thus, it would not be the slightest of the exaggeration in stating that the one time offer schemes are your tools to make the customers positive about your product and services through a mental simulation and thus the one time offer is all about a mind game that you play with the prospects.

The marketing funnel model teaches the marketer that his products and services passes through various stages till the time the prospects are getting converted to a buyer. Thus, the marketers requires to take measures like the limited period offer and the one time offer that actually expedites the pace at which the prospects converts to an actual buyer.

What is upselling?

The concept of upselling involves selling an additional product or to replace the usual purchase plan with some thing that comes for higher financial values. Normally, the upselling techniques are endeavored on the customers who are lying at the repurchasing phase I thee sales funnel.

The question of what is upselling, can be answered as a sales techniques that enables the sellers to induce the buyer to procure items that are more expensive, upgrades or add-ons with the objective to make the sales process more profitable. The process usually aims to make the marketing process more profitable to the seller.

The concept of upselling

While to discuss as what is upselling, it requires stating like it is a part and parcel of the marketing funnel process. The sales funnel process aims to provide the business houses a precise estimation of the probable sales volume. At the same time, the sales process enables the business houses to drive more revenues from each of their sales. Thus, you can put the answer to what is upselling as the measures that the sellers undertakes to sell more varied products to the buyers that comes for higher price tags.

The techniques deployed to up sell

To give the employees an idea as what is upselling, companies round the world undertakes training programs. It is done with the objective to make the sales process more profit making. To Upsell successfully, the seller needs to be totally acquainted with the background of the purchaser. The upselling strategy works the best when the buyers and the sellers are have some mutual level of trust in-between. It is for this reason that the upselling endeavors are majorly focused on those buyers who are actually running through the repurchase phase as in the marketing funnel. Thus, before getting into the implementation of the technique, it is more important to know what is upselling and the right time to apply the technique on a buyer.

Once a detailed discussion had been given to the point of what is upselling and the techniques that can be put to use to up sell, there comes a point of alarm for the sellers. Often, the sellers confuse the process of upselling with cross selling aspects. This is something that gets repugnant to the spirit of upselling as the instead of selling something expensive that would have make the sales process more profit making, the seller ends with selling something either with equal or lesser financial values.

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