Episode 56 How to Run a Black Friday Special that Works
Second is hitting your goals and revenue and the third is having that continuous plan that you can use over and over and over again when you find something that works and the biggest thing is like we said people are going to be spending money this year. Okay every year. It happens even if you're like well. The economy and whatever's happening with the politics people there are still that percentage of the population that has discretionary income and even if they don't have discretionary income spending money so they might as well be spending it with you right if you are not putting your business out there than they were going to spend it with somebody else and even if you're offering like a holiday maybe you have like a christmas gift cards special that you always do. The thing is if you're not promoting it even if thinking like oh i might buy that. Something else comes along gets their attention and gets their dollars. So that's why. I really strongly encourage you to think outside of the box for a black friday or cyber monday special in one of the reasons that these specials works so well is. It creates this urgency right. It creates a deadline so it gets people to take action right. We know that it is an irresistible juicy offer. You don't wanna have just a boring like ten percent off right. That's not going to work or you know if you sell retail products you might say i'll give you a travel size handcream. That's not going to cut it. Nobody's driving across town or going out of their way to get that extra hand cream or even ten percent off so it needs to be a pretty juic- deal the other thing is. I actually tend to shy away from discounts. Now it's crazy now every now and then you can do some discounts but i have three ideas for actually value adding because discounts can d- value your services. And that might be one of the reasons that you might be thinking not to do it. So let's talk about some of the reasons why people don't do it so first of all. Obviously it's work right. It's going to take some time to put things together whether it's just even getting creative juices going on what you can offer our thinking outside of the box. I can take time to organize a little bit of and it's going to take time to promote it right so that's where you have to think about that. Extra money earned right and how it's going to be worth it so that's one of the contents work. Also you might not have a good return on investment. If you don't do it right. So i know there's somebody right now that sitting at home and they're thinking oh i've done specialist before and i just nobody came in or i didn't get any calls. I posted on my social media. Put it on my website and it was cricket so again like i said before there is rhyme and a reason you have to promote it correctly or else it will feel like it's time wasted. And then as i mentioned a moment ago you might look at black friday as you only have to offer a discount and you might think of that as losing money and you might also look at that as devaluing your services and so one of the things that i've said in the past when you are constantly offering discounts that is not a way to build a loyal clientele. That doesn't mean you can't offer them from time to time. But if you're always offering discounts then what happens is you bring in clients that are loyal to the discount and not loyal to you. So that's the thing so that's why we want to think about adding value to our services if you look. They've done studies where they'll have something that says fifty percent off hasselhoff. Buy one get one free now. They've asked people now. Basically you would think that all of these are the same a fifty percent off half off and buy one get one free. They all at first glance seem to be the same value however there have been studies done on this and there is perceived value in the buy. One get one free. People actually perceive more valley from it right so they're getting more from it right even though technically it looks like they're all about the same. So that's why i talked about bundling. We talked about adding value to the service. I knew says. Would you recommend a certain price off. So let's say it's you charge. Three fifty for micro bleeding should you do. It lasts as a promo. So this is what i was just saying. I'm not a big fan. You could do a percentage off or you could do if you buy this service. Then get a gift card and the gift card has to be used after like it has to be used in january or february or after their initial appointment right. You know anytime i go into. Kohl's is a shopping department for anybody. That's not in the us like you know they always give you like it's called kohl's cash or they'll give you like five dollars off for your next purchase so it's usually like at least three or four days.