Offer Limited Time Deals
Offer limited time
deals, especially ones that don't last more than a few days tops. And if
you have an e-mail list, mail them a lot more on the final day with reminders
to the deadline. You'll often get most of your sales on the final
day! Countdown timers can be another
great way to emphasize this. The idea is similar to furniture stores that
seem to always have sales that end on the weekend... even though we all know
they'll probably have another sale in a week or two, we're more likely to buy
now if we think there's a sale on it now vs. later. People like to
procrastinate, so limited time deals can get them off their butt to take
action.
For example, if you run
a gym, you may run a sale on gym membership, where if they sign up over the
next 3 days they receive a discount on the total price, or X amount of personal
training sessions as a bonus. The time limit creates a sense of urgency,
encouraging people to buy that may have sat on the fence or procrastinated
otherwise.
One huge marketing tip
that we’ve perfected over the years, which has made us a lot of money, is a
limited time deal method that we call the 3 Day Money Maker or the 1, 2, 3
Limited Time Offer. It can especially work well if you have an e-mail list and
can e-mail them about the special offer.
Here’s how it works. You
setup a special offer (ideally either a big discount like 50% or a big bonus to
include with it) that only lasts for three days. We typically either start this
on a Thursday or Friday and have it end over the weekend on midnight (either
Saturday or Sunday night). On the first day, you only e-mail your list once to
announce the special deal, provide them with a link to the sales page to buy
it, etc.. You then tell them that the deal ends on midnight on X Day (three
days from then). You typically will get some initial sales then, but not
necessarily a ton. Then on the second day, you send them one e-mail in the
morning and one e-mail later in the afternoon or evening. You likely will get
few if any sales then, but that’s okay. The third day is where the real magic
happens. On the third day, which is the final day of the sale, you e-mail them
once in the morning, once in the mid to late afternoon, and once in the late
evening. Your subject lines should increase the sense of urgency with lines
like “Final Chance – 50% Off Deal Ends Today” and “Only Hours Left to Save 50%”
or “Final Warning – Deal Ends in a Couple Hours” (they don’t have to be exactly
that, but you get the general idea of making it seem urgent).
The final day,
especially the final hour or two, will get A LOT of sales typically, especially
in the final minutes of the special offer. In fact, we’ve found that if you
leave the offer up until the morning, you can get several sales in the wee
hours of the morning that think they gamed you by getting the deal just after
it technically was meant to close. Using
this method properly exactly as we laid out can make some businesses more money
over a few days than they might make in several weeks or more!
Takeaway: Create a time sensitive
deal where people only have a limited time to take you up on it. The sense of
urgency encourages people to buy. If you have an email list, constantly remind
people of the deadline, as often the most sales will happen in the last day
near the end.
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