Right now as I write this post there is a lot of hoopla over all of the black friday, cyber monday and cyber week deals.
So I want to take a moment to unlock some of the secrets behind the success of black friday deals.
Meet the magnificent three
I know, it’s not a great name, but it does the job here.
Now exactly who are the magnificent three?
They are reason, reward and incentive.
But more importantly, what does these three amigo’s have to do with black friday
If you really break down what happens during black friday, what you will notice is that the three amigos show up quite often.
They form the basis of all the deals that you will see up until christmas.
Here’s how you can create your own special black friday deals.
In order to create your own profitable deals you will need to do the following.
1. Give them a reason to buy now
I’ve just found out from my accountant that I will not be able to sale my next shipment of mink furs at my current price and in fact he’s telling me that I will need to raise prices by as much as 45%. However, on every fur that I still have left in the store right now I’ll sell it for below cost, but only while supplies last.
2. Give them an incentive to buy now
If you buy a years subscription today I’ll cut the price in half. So instead of having a monthly payment it will be just one single payment and that’s it.
3. Reward them for buying now
If you buy the G.E. dishwasher today, I’ll throw in a 3 year full factory warranty.
The idea behind these strategies is that you want to get people to act now, and to do that you have to create better offers.
You have to become a jedi master at making offers if you will.
You can even throw in some scarcity and limit the time upon which your offer will be available.
To summarize things up here.
If you want to create your own little black friday sales events all year long then simply start using the magnificent three.
Reason, reward and incentive.