Fire sales are a great way to secure instant revenue for your business. The only marketing tactic that draws customers in faster than a fire sale is surprising them with a special extension of that fire sale. But, let’s not get ahead of ourselves. First things first, you must focus on your customer.
Maybe they missed out on your initial offer, and the closer they get to the final day of your sale, the more they realize how much value they could be missing out on. Finally, by the last day of your fire sale, some customers may feel as though they have procrastinated too long and missed out on the best possible offer. At that point, they may decide not to buy your product at all. This is when you have yet another opportunity to appeal to them for their business. Don’t let them slip through the cracks!
You must always stay one step ahead of your customers. How? You simply extend your fire sale and offer an exclusive offer that allows your customers to benefit from the best discount price possible, the same price as the one you offered on Day 1 of your fire sale! Now, instead of only 10%, they can once again benefit from a 50% discounted price. In addition, you let your customers know that “every copy must go!” and therefore, you are extending your fire sale “just one more day!” And not only are you extending the sale an extra day, but you are also offering a one-time, exclusive “Day 1” price for the first five customers who place an order with you.
Suddenly, the customers who waited too long to get that great offer is back in their arms and anxiously chomping at the bit again to buy your exclusive, valuable products. It’s simply the principle of supply and demand.
With a fire sale, you supply the product, and you create the demand by diminishing the perception of the supply and making an enticing offer with extremely discounted prices. In other words, you may not be in jeopardy of running out of copies of your report but by giving your customers this impression (not by lying but by implying) that the product suddenly becomes more attractive.
To bring home the whole concept of a fire sale, even more, think about it as a dating relationship. You often daydream about the one that got away, right? You don’t have to admit it, but everyone does this at some point! Andy, why is this? Because you think about the “what if” factor. So, what better way to entice customers to purchase than to make them feel like they might miss out if they don’t act fast.
Remember, a fire sale is a great marketing tactic, but it is only beneficial when it produces a profit for your business. You must apply your business sense and put your best foot forward to make your fire sale a success.