The Coach’s Guide to Successfully Selling on Black Friday

Please note this transcript is machine generated so it is not perfect and should be used for reference only, you will get the best from the podcast by listening to it in it's designed format

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With Black Friday looming, I want to talk about discounts. Hello and welcome to the Experts Unrivalled podcast, my name's Jen Hall, your business positioning coach and market leadership expert on today's episode. I am desperate to talk to you about something that I think is extremely important when it comes to Black Friday. And to be fair, any kind of usual discount day.

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But Black Friday is a big one, right? And this is the time of year that I see everybody slashing their prices in order to try and get, you know, make a quick buck or indeed try and get more sales or, you know, really just creating things because they feel that they need to for Black Friday. So there's a few things that I want to tackle. But before I do, I have something new and exciting for you, and that is my seven step system to creating a sell out offer.

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So if that's something you're looking at doing at the moment, then please do make sure you check out the links in the show notes because you can download that instantly for free. So do you go and grab that, if that's something you're looking to do at the moment? So the first thing that I want to tackle around discounting is a rather hard fact that if you are discounting services that you have previously sold at a higher price to clients, you do have to bear in mind how that makes those clients feel.

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And if you are looking to really reward customers for being loyal and reward your clients for, you know, buying from you time and time again, I first had first hand experience of how that feels when I've bought like a full price. And then I've even seen I'm just discounting people, selling it for free when I say selling it, as in promoting it for free. So they're just giving it away.

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And it really makes me which leaves me with a bit of a sour taste in my mouth because I kind of feel like I've been diddled.

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I've been waiting for an opportunity to fit that word in. But it really does make me feel like, wow, okay, I'm not a particularly valued customer if I've given you my hard earned cash and then you've got and given that thing away for either free or significantly slashed a price on it. So you have to bear in mind how it makes other customers feel. And you know what? Some people are comfortable with that. And you could go down the route of fine while supermarkets sell certain items at a lower price during certain periods and tough luck if you don't catch it in that.

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So, you know, in certain circumstances it's appropriate. But you have to ask yourself, is it appropriate for your business if you were a coach or a consultant or someone giving away your time for your expertise and so and so forth, or even recorded online courses and things like that? You do have to bear in mind, you know, what people have spent on you before. Is it appropriate for you to be stuck in this price is it an acceptable industry for you to be slashing that?

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And how is that going to leave your customers feeling in certain industries? It is acceptable. It is to sort of people are used to that, that kind of behavior. And so they just accept it. But for a lot of industries, particularly the coaching industry, it's not and it does leave a bad taste. So that's one of the downsides of discounting, is actually it disrespects those who have already bought from you. And do we really want to be doing that now?

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The second thing is it also undermines your positioning. So if you're slashing the high ticket items or items that you've sold at a higher price down to a very low amounts, you have to really think about how that positions you as an expert, particularly. For instance, I see people do this where they slash their want to watch prices. Never do that in any circumstances, anywhere, any where you giving away your time? You know, that is precious and it's time you cannot get back.

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It's the most expensive thing you own is time. And so if you're doing that, I would 100 percent suggest you stop, mainly because, you know, it disrespects you. It disrespect your time, it undermines your value. And it also undermines the value that you've given to previous customers. So many reasons not to do it in that circumstances. I 100 percent advise against it in every circumstance so that I'm not sitting on the fence with. So don't be discounting a one to one time, but discounting, if any sort you had to very carefully your positioning because you know, you're an expert in your field.

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You are a business who wants to position themselves as a market leader. And so you have to be. Very careful about the offers that you create and that they don't undermine what you're doing against certain offers in certain industries are completely acceptable. But again, for coaches, I would really recommend not doing that. You're not a commodity. You're not an off the shelf item. You're not something that is bought from ASDA. And so don't treat yourself like that either.

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But let's be honest here. I've been helping clients of mine to create offers for Black Friday. So I'm not suggesting that you completely ignore it and that you don't create something for it. I think you absolutely can. You can join in with the Black Friday fund. However, there are a few things that I would recommend that you do. Now, the first thing is I would suggest going talking about the downsides of discounting. And I'm really not a big fan of discounting in any way, shape or form.

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But when you want to create something for a particular time, then why not create something brand new? Why not think about what you can create from scratch that you could offer at a low price point? Because that's what Black Black Friday is all about, right? It's about low price points and snagging a deal. So instead of undermining your services and undermining your clients who you've already you've already bought from you and already spent their, you know, their money and invested in that and respect that, create something brand new so that you can sell it at a price point that's appropriate, a lower price point.

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And you have to also think about what you're creating here. Again, don't do it on your one to one time. Do it on a product that they can easily access, that can be replicated without your time being taken, that this some sort of digital product of some sort, something along these lines that won't take away from your time. So if you're going to do something for Black Friday, I would absolutely recommend creating something new at a lower ticket price point.

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Now, within NFA, I've been working with one of my amazing clients to create a specific funnel and create products and up sales and down sales and cross sales and and bumpers and things like that for her Black Friday deal, which I'm really, really excited about. But all of these things have been created from scratch, something new. So she's not slashing her prices and she's not undermining what she's doing and she's actually creating self-liquidating offers. And she's also doing something that will actually end up generating leads.

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And that's the other thing I see people doing, is that sometimes I see people actually create new things for the wrong audience. And what by the wrong audience, I mean, not the audience in which is relevant to your business. All that's going to do is muddy the waters in terms of confusing people about who you serve. And it's going to start generating an audience of low ticket buyers who are going to come into your audience, but not Opsahl into anything more.

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Again, we want to start creating, you know, and offer, particularly if you don't have a very big audience. We want to make it worth a while. So we want to start generating an audience full of people who are going to actually continue to buy from us. And so they need to be at the right stage. So you need to be very clear on who that ideal client is and what you're going to create for them at that low end that they're going to want, but will also lead them into a bigger journey to upscale, into more expensive items.

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So be very clear about who you are directing that to. The other point that I want to mention on this, which comes up comes up Acropora a lot, is the fact that people think, well, just because something's cheap, because it's cheap, it will sell. And that is 100 percent not true. Just because something is cheap does not mean that it's going to fly off the shelf. It takes the same energy to sell something at one million, 10000, 100000 or Tempy.

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Right. It really doesn't matter. You still need to be able to sell it in an effective way, which is why, again, guys, don't forget, you can download how to create a Salau offer in the show. So make sure you go and grab that link in the comments and download that. But you do need to make sure you're positioning what you're offering correctly so that people will want it. You know, you see people struggling to to promote free options and get people onto their list.

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All they're asking for is an email address. And even then, that's hard enough. So even when you're trying to push out a free opt in and that's actually been done before on on Black Friday, is people creating brand new lead markets and options, which is another great idea that you can you can produce and give out to both, you know, create that low ticket free offer and generate an audience at the same time. That's. Another great idea that I've seen people do, but even then, you have to be able to promote it effectively, these items, these products, these lead magnets are not going to sell themselves.

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You need to be able to push them out there in the right way with the right copy, with the right wording to really entice people to feeling like they need that thing in their lives. So, again, the more specific you can get on your offering in terms of who it's for, what problem it solves and the outcome that it achieves, the better. And my last tip for today, if you're looking to prepare for Black Friday, is have you considered actually doing it the day before Black Friday in early Black Friday deal?

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And the reason I say this is because it's so saturated on Black Friday, every man and the dog are putting out something. And so it's really important to consider how you are going to be able to stand out in that situation. And one of the ways that you can actually curb that is to think about doing it the day before. So doing it around the time of Black Friday, but not on the day so that you can get in there early.

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People are not bombarded. Your email isn't going to get lost and that people really start to sit up and pay attention to what you put in front of them. And if you are doing things like Facebook ads, you'll actually have a better chance of getting your offer out there on a nonblack Friday day. And you can even think about things like a two tiered system so that it's cheaper if you buy the day before and it goes up slightly for Black Friday and you can do a sneaky insider circle offer the day before to your email list and then maybe put it at once, the public on Black Friday.

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There are many ways to do it and the world is your oyster. But that is certainly a tip that I would give you, is something that has worked really well in the past in my world. And as always, if you are interested in talking about joining Elevate, I have one more space left. So if you'd like to join Elevate, you'd like to apply for that place. Then do make sure that you pop into the show notes to book a call with me to apply and you will find all the links in the show notes.

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But for those who are listening, want to get it down quickly, its http://bit.ly/claritycallpodcast and you can put in a chat with me to talk about how you can join, elevate and how it's going to benefit you and your business, taking it to market leader position and beyond. That's it for me this week, guys. I hope you have a fantastic week and I will speak to you all in the next.