Ahhh Black Friday – the day when everyone slashes their prices and undermines their positioning! If you’d like to avoid positioning yourself as a throwaway toy and actually use Black Friday to:-
- Grow an audience of ideal clients
- Create an offer that will actually sell instead of getting lost in the BF saturation
- Keep your credible positioning intact and NOT piss off your previous clients then…
Listen now on the player above or read the blog below:
Successfully Selling on Black Friday
This is the time of year I see everyone slashing prices to make quick cash or get more sales. Or creating for Black Friday because they feel they need to do so.
It is a hard truth that if you discount a service that you previously sold at a higher price, you need to consider how this makes your current clients feel. If you want to reward your clients for their loyalty, then you need to give this thought.
I’ve experienced this before. I have bought and then seen it later being sold for free. They were giving it away. It leaves with a sour taste. I feel like I’ve been diddled and that they did not value me as a customer.
While some people may be comfortable with discounts and selling at a discount during certain periods. There are circumstances where this is appropriate. Yet, you have to ask yourself if it’s appropriate for your business?
As a coach or consultant, is it appropriate to discount your time or your recorded online courses? You do need to bear in mind what people have spent on you before? Is it an acceptable industry to slash prices? And how will this leave your customers feeling? For the coaching industry, I’d argue this is not okay and will disrespect those who have already bought from you.
Your positioning
You also need to consider how slashing prices will impact your positioning. If you take a high-ticket item down to a lower amount, you need to think about how this positions you as an expert. And never slash your 1-1 prices. Anywhere where you give away your time, that is precious. You cannot get time back. It is the most expensive thing you own. If you do this I would absolutely recommend you stop. It undermines your value and the value you have given to previous customers.
You need to be careful with any kind of discounting when you are an expert in your field. You are a business that wants to position yourself as a market leader. So you need to be careful that your offers do not undermine what you are doing.
Again certain offers in certain industries are completely acceptable. For coaches, I would recommend not doing this. You are not a commodity, an off-the-shelf item so do not treat yourself like this.
Offers for Black Friday
However, you can create offers for Black Friday that work for your business. Firstly, I recommend that when you want to create a product for a particular time, then create something new. Create something from scratch at a low price point because this is what Black Friday is all about. It’s about low price points.
Instead of undermining your current services and clients, create something new. You can then sell it at an appropriate price point. Think about what you create here – not on your 1-1 time but in a way they can access without your time being taken. You can create a digital product that will not suck up your time.
I’ve worked with clients in Elevate to create a specific Black Friday funnel. All created from scratch and doing something that will actually generate leads.
I sometimes see people create new products for the wrong audience. All this will do is muddy the waters about who you serve. It will generate an audience of low-ticket buyers who you cannot upsell to your other services. You want your low-end offer that is worth your while. To build an audience of people who will continue to buy, you need to attract them at the right stage. To do this, you need to be clear on who that ideal client is and what they want but also leads them into a bigger sales journey.
Cheap will not always sell
It is not true that because something is cheap then it will sell. It takes the same energy to sell a high-ticket item as it does to sell low-ticket. You need to be able to sell it in an effective way. You will see people offer free opt-ins to get someone on their email list. All they are asking for is an email address and even that is hard enough.
You can create a new lead magnet and opt-in for Black Friday, which is a great way to approach the date. Even then you have to promote it effectively. They will not sell themselves, you need to push them out in the right way, with the right copy to entice people in.
The more specific you are with your offering, the better.
Avoid the saturation
Finally, have you considered doing it the day before? Black Friday is so saturated. You can stand out in the saturation by launching the day before. You can get in there early, emails are not bombarded. If you are doing Facebook Ads, you will have a better chance of getting your offer out there on a day other than Black Friday. You can even do a two-tier system or an insider offer to your email list. There are many ways to offer on this date.
Useful Links:-
Book a Call with Jen – bit.ly/claritycallpodcast
Download my FREE Seven Steps to Create a Sell-Out Offer –https://www.marketleaderleague.com/create-a-sellout-offer/
Send your emails to jen@jen-hall.com