It is hard to argue that fire sales are not beneficial for an internet marketing business owner. Yet, if you are focused on the wrong thing, you may be tempted to fall into a trap of negativity when it comes to fire sales for your business.
To be clear, let’s address some of the potential pros and cons of putting this effective marketing strategy to use. You will quickly see that for every “con” there is a “pro”!
Fire Sale Pro #1: Attracting Customers with Low Prices
Since fire sales start at bottom floor pricing – the lowest of the low, your customers will be instantly attracted to the discount and most likely, buy your products!
Fire Sale Con #1: Low Prices Mean Low Revenue
But not really! Yes, you will cut your prices for your fire sale, but remember, with a fire sale, your prices steadily increase with each day of the sale. So really, you are gaining sales, not losing money, from customers who may not have otherwise purchased your products at all.
Fire Sale Pro #2: Instant Sales for Fast Cash
Because of the extremely low prices often associated with fire sales (especially within the first few days), customers will flock to your online store to take advantage of the discount. This is great if you need instant sales, and ultimately, instant revenue.
Fire Sale Con #2: One Time Sales Aren’t Good for Long Term Business
Although it may seem like fire sales only produce one-time revenue, they are a long-term investment. In other words, they are good for more than the initial sale. You are also gaining new customers and proving to your existing ones just how committed you are to providing them with quality products at affordable prices.
Fire Sale Pro #3: Increased Productivity
Because your fire sales will have your products “flying off the shelves”, you will need to produce more products in greater quantities. Although this is time-consuming, it is great for your business and even better for your bank account!
Fire Sale Con #3: Fire Sales Are Too Demanding
While holding regular fire sales will require a certain level of commitment on your part, they are well worth the investment. If you are willing to work hard to keep up with your newfound success, you will quickly reap the rewards of it.
As you can see, even the “cons” of fire sales can be viewed as “pros.” It’s all in the eyes of the beholder. It’s all in the eyes of the internet marketer. If you want to become successful and realize your full earning potential, then fire sales are a great way to do just that. It’s up to you to have a positive attitude and see just how any potentially perceived disadvantages of this tried and true marketing strategy can work to your advantage as a successful entrepreneur.