Creating your signature offer is not easy, but it’s possible. In this post, we’ll go over what a signature offer is and why it’s important to have one. Plus, we’ll take a look at luxury brand items and their signature offers as an example, and dive into the 5 things you need in order to create your own signature offer.
We’ve all heard the saying that sex sells, but so do results. Consider what the end transformation is going to be.– Bethany McCamish, your host
Here’s what you can expect to hear in this episode:
- What is a signature offer and why it’s important to have
- Case study: Luxury brand items and their signature offers
- 5 things you need in order to create your own signature offer
Creating Your Signature Offer + Key Tips
If your ‘signature offer’ is a VIP Day, then we need to talk. Not only is this not a true signature because it is based on time- something is easily taken away from you – but it is also lacking the core qualities of a signature offer. Let’s dive into creating your signature offer, who needs one, and what a signature offer can look like.
Who Needs A Signature Offer?
First off, a signature offer is vital to building a brand, but that doesn’t mean everyone will need one because not everyone in business is looking to expand as a brand and simultaneously grow their personal brand.
Signature offers are reserved for entrepreneurs who want to be known in their industries as thought leaders, change makers, or even influencers. For a signature offer to work, you have to have to be the authority or expert in the room.
And for your signature offer to make a profit, you have to believe you are the expert in your offer.
That said, this can also be one of the most challenging for brands to figure out, and sometimes takes years before they do.
Examples of Signature Offers
The fashion industry is such a great example of signature offers, so I want to start there.
One great example of this that is tied to a product is Christian Louboutin’s shoes with red soles. Even though there are knock-offs, these still fly off the shelves. It’s signature. Coco Chanel not only turned the tweed blazer and suit into an iconic signature item, but she also reinvigorated the black dress from mourning-only attire to what we know as the LBD – a go-to staple in the closet.
The purpose of the signature offer is to become known for something like Chanel and the red-soled shoes but also to make selling and scaling easier for you. A signature offer is your own proven and effective service or product that is unique.
It is not a VIP Day because you saw that hundreds of other people are also doing VIP days and making money. That may be true, but if your end goal is to build your brand (which I assume it is, since you are here), then building an offer around a craze that is based on a shaky and easily taken title of being ‘faster’ is not a signature offer.
Maybe you do offer your signature in a day, but that is not the defining factor- most of the time, it is rooted in your competitive edge – so if you haven’t dived into that yet, pop back to episode two in season 1 and give it a listen.
Top 5 Tips for Creating a Signature Offer
If you’re ready to build your signature offer, here are my top 5 tips.
#1 You need to make a choice
You might be good at a lot of things. You might even be an expert on more than one, but you need to narrow it down, focus, and truly find your top strength for this signature offer. If you do everything for everyone, you do nothing.
#2 You need to be willing to do market research and test things out
If you have never polled your audience, done general market research, or tried a few launches and failed, then you need to buckle up for a few bumps in the road on your path to building a signature offer. This is a vital part of the process.
#3 You need a structure
If you are a service provider, then consider what your processes or systems are – a process or structure can in itself be a basis for your signature offer. It can be what makes you stand out from other chaotic seeming service providers.
On this same note, if you have a product, you need to have a structure for the use or benefit of the product. Think of infomercials or Shark Tank pitches of products; they all showcase the unique structure it can provide to life.
#4 You need to showcase results
Sex sells, but so do results. As you consider your signature offer, also consider what the end transformation will be. Is this something you can showcase, highlight or build a story around in order to keep your signature offer or product in demand?
#5 You need to brand your signature offer
Your product or signature offer needs to have its own name and its own mark suite. It should not be the same mark as your main brand. Just like the LBD was the signature for Chanel, so too does your product or offer need a unique name (plus you can trademark it).
Again, a signature offer takes time to build, and it should tie in with your competitive edge as a whole brand, but once you have found it and capitalized on your key strength or key product, then you can truly have a massive impact on your authority and this trickles into your personal brand building pathways into speaking, book deals, and other opportunities as an expert in your space.
Here’s the thing, brands that make bank know exactly what their expert positioning (competitive edge) is. Competitive edge can also be referred to as positioning or the brand’s uniqueness. It’s essentially what makes you different or unlike your competitors, right? It’s your differentiator. (Check out this post/episode on expert positioning for more help on that.)
So it’s important that you take the time to again, make that choice. Focus on your key strengths. Do the market research and test it out. It’s okay if some things fail. Structure it. Showcase the results in the transformation story and then brand it and trademark it. That’s it in a nutshell when it comes to creating and building a signature offer. Until next time!