How to create an offer suite

Want to know how to create an offer suite for your business? When you first start out in business it is common to only have one or two signature services. However, over time you may find yourself looking to expand what offerings (products or services) your business has available for sale. A strategically crafted offer suite will enable you to maximise the number of people you work with, the level of help you are able to provide and the money you are able to make. Keep on reading to find out how to create an offer suite for your business.

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Before delving into how to create an offer suite I want to make sure we have the same understanding of what an offer suite is.

What is an offer suite?

An offer suite is the collection of products, services, or packages offered by a business to its customers or clients.

An offer suite may also be referred to as a product suite. I prefer to use the term offer suite since I specialise in helping service providers or service providers who also offer products in order to scale their business.

In some cases, an offer suite will allow a business to operate an ascension model. This is where services and products are specifically created so there is a clear journey where someone buys offer 1 first and then moves up to offer 2, and then offer 3 etc.

The advantages of having an offer suite

If you’ve been following online business experts and gurus who emphasise ‘less is more’ in business and that you should focus on having a signature service and selling that then you might be thinking ‘Why should I create an offer suite?’.

In the beginning, having just one signature service that you focus on selling makes sense. However, as you become more established as a business it often makes sense to go from having one signature service to having an offer suite. Some of the advantages are:

Being able to help customers or clients with different budgets – If you only have one service then you’ll be leaving money on the table because there are people who would love to work with you but would prefer a cheaper or more expensive offer.

Making multiple sales from the same person – When you only have one offer it is unlikely someone will buy from you multiple times (unless it is structured in a very specific way). However, when you have an offer suite you can design your offerings in a way that it makes sense for someone to buy multiple times.

Creating a passive income stream – Another advantage of moving from having one service to having an offer suite it you can create a passive income stream. You can specifically choose to create an offering that will enable you to make passive income.
Helping more people – If your signature service is a one-to-one service then you are only going to be able to help so many people due to time restrictions. When you create an offer suite you are able to make offerings that you can deliver on a one-to-many basis or you create products that can be bought by an uncapped number of people.

WANT TO CREATE AN OFFER SUITE SO YOU CAN SUCCESSFULLY S CALE YOUR BUSINESS?

If you are currently providing a 1-to-1 service and you want to create new offers so that you can scale your business then Fully Booked and Scaling is perfect for you!

In this 6-month one-to-one programme, I’ll help you to choose, market and successfully sell your new offer(s). You’ll create a new income stream (which can be passive or recurring) without impacting the demand for your 1-to-1 service.

For more information, and to apply, click here.

CREATING AN OFFER SUITE FOR YOUR BUSINESS

There are a number of reasons why you might have decided to create an offer suite for your business. You might have had people constantly asking for something and decided now is the time to make that offer. You might be looking for ways to make more money from your existing and previous clients. You might be wanting to add an offer that will enable you to start scaling your business. Regardless of the reason these steps will help you to successfully create an offer suite for your business.

STEP 1: MAKE A LIST OF ALL YOUR POSSIBLE OFFERS

The first thing you should do is write down all of the ideas you have for future offerings. If you are like most business owners you’ll have lots of ideas of what you can do and now is the time to let your imagination go wild. Get everything down until there is nothing else you might like to do.

2. EXPLORE EACH OFFER FURTHER

Next, you want to explore each offer in a little more detail. Ask yourself some questions like:

Who would be the ideal client? Do I have that ideal client already on my mailing list, social media following, online audience etc? A
Is there currently demand for this offer?
Would I be able to promote this offer to any of my existing or previous clients / customers?
What would the price point be?
What would the profit be?
What resources (time, money, skills) would be needed to create this offer?
What resources would be needed to deliver this offer?
How excited am I about creating and delivering this offer?

Answering these questions will hopefully help you to see that some offerings should be considered further and some aren’t right for your business at this moment in time.

3. DECIDE WHAT WILL BE INCLUDED IN YOUR OFFER SUITE

Now it is time to look at all of the offers that by themselves seem good for the business and then put them together to make the offer suite. Sometimes there are potential offerings that are amazing from a standalone perspective and would work, but given everything else that is happening in a business they just don’t make sense.

When it comes to building an offer suite there are a few common ways to work:

Option 1: Ascension Model

This is where you have offers that can be bought in a sequential fashion and it enables a client or customer to grow with your business. This model is commonly used in the coaching industry.

For example, you’ll see a business coach that will have an entry-level course, a mid-level 12-week group programme, and then a high-level 1:1 coaching offer.

In this model, as you go up the pyramid the pricing goes up. You expect to have more people at the bottom and know that only some people will go through all of your offers.

Option 2: DIY, Done-With-You, Done For You

Another common way of creating a product suite amongst online service providers is to offer a mixture of Do-It-Yourself (DIY), Done-With-You, and Done-For You options.

For example, a copywriter could have a course on writing for social media, have a membership where members can get feedback on their social media posts, and then be hired as a copywriter to write blog posts, emails and social media posts on a retainer basis.

Option 3: Different timeframes

Another option is to have offers that enable people to work with you over different timeframes. For example, you could package your expertise so people can work with you for a day, a month, a quarter or a year.

Those are just three structures that you can use, but to be clear you don’t have to follow one of those structures.

However, what you do need to do is look at all of your offerings and establish how they fit together. There should be key points of difference that ensure they work together. Ideally, you want to be able to ask a potential client or customer a few questions and then know clearly what offering is best for them.

For example, in my business, I offer strategy days and one-to-mentoring (You can check out all of my services here). In all cases, clients will get a marketing, or business, strategy created, but a strategy day is only for those that are confident in their ability to deliver the strategy that is created on the day. If a client needs accountability, marketing training, or analysis support then I know they need a mentoring option.

So look at all your options and see if you could make a flow chart. Could you ask a few questions and then easily determine what offer they should go for? If you can’t keep on going until you can.

4. CREATE YOUR OFFER SUITE

Once you’ve decided what will be included in your offer suite for now you’ll need to work out creating the additional products and services. Create a timeline for when you’ll make the additional offers and then when you’ll start marketing.

For some offers, you may have to create the entire thing in advance. For example, if you decide to write a book or create a self-study course then you’ll have to create that in advance. For other offers, you may only have to create the sales page and have the offer ready to buy.

That’s it! You now know how to create an offer suite for your business.

There are considerable benefits of having an offer suite and when done well it can help your business to grow, or scale. However, if you don’t strategically create your offer suite you can find yourself having lots to sell, working harder on your marketing, and then not reaping the benefits.

Let me know in the comments what your biggest takeaway is.

BOOK A STRATEGY DAY AND GET HELP TO QUICKLY DESIGN YOUR STRATEGIC OFFER SUITE.

As you can tell there is a lot to consider when creating your offer suite. A strategic offer suite will enable your business to grow, or scale, and also support other business goals.

When you book a Strategy Day I’ll lead you through my tried-and-tested process to ensure that you choose the right offerings for your suite that will support your goals, but that can also be rolled out in the coming year.

So if you are ready to take action fast, and know you’ll follow through once decisions have been made and you’ve got a plan then sign up for a Strategy Day.

For more information, and to apply, click here.

Prefer ongoing support? You can check out my other services here.