For all your online business building info! , 2020-08-12 11:05:00
Starting a Fire Sale to Make Money Online
There are many methods to promote a product. One of these methods that are used by many internet marketers is the so called ‘fire sale’. In internet marketing the term ‘fire sale’ is used when a product is promoted using the following method:
A product is offered for an extremely low price and then for every day (or days), the price is set higher and higher by the seller. This can go on for many days. Often a maximum of 7 days is used. After these 7 days a product is never sold again.
- Day 1 and 2 the price is $10.
- Day 3 and 4 the price is $20.
- Day 5 and 6 the price is $30.
- Day 7 (last day) the price is $35.
People like products that are offered with a discount and this is why a ‘fire sale’ works to make money online. A ‘fire sale’ targets this instinct. A ‘fire sale’ tries to create an “uncomfortable feeling” by the potential customer. They should think “If I wait the price will go up” or “If I wait to long, the price is not only higher, but I never can buy that product again.”
Another plus of a ‘fire sale’ is that it is viral. If customers like the product then they will more likely spread the word, because they like to let people know of the good deal that they made. (People that brag is always good for spreading the word!)
A ‘fire sale’ is often used by internet marketers who are selling information products, like EBooks, video’s or Software.
Often they use their e-mail list to spread the word about the product. This is vital because if nobody knows about the ‘fire sale’ than nobody will buy the product. The best thing to do is to send e-mails before the ‘fire sale’ starts. Also mention the ‘fire sale’ in forums and on your own website of course. Try to build customer anticipation for the product and ‘fire sale.’
It is also possible to use a ‘fire sale’ on old products. Let’s say you have an EBook, you have sold it for a couple of months. The existence of EBook is well known by most of the people in the “Target Community.” If you want to move on, for instance you want to focus on a new EBook, then you can use a ‘fire sale’ to try to sell the EBook to as many people as possible in a very short time. After the ‘fire sale’ you close the website of the EBook and never sell it again.
A ‘fire sale’ must be or have:
- Low Price
- Time Limit
- Never be sold again
- Warn people upfront about the upcoming ‘fire sale’.
A firesale is a very good tool for the internet marketer, so give it a go!
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