Question

Topic: Advertising/PR

You Opinion On "only One Day Sale"

Posted by Anonymous on 50 Points
Hi everyone, since I signed up for MP I read posts here everyday. Just love this place.
I am not a professional marketer or such, but very interested in marketing. I have this idea of "Only one day sale" and wonder if it worth exploring. Normally sales last 2 to 7 days. I'd apply it to any, practically, business, not only stores. For example for real-estate agent - get 1% off commissions if agreement signed at that date or contractor - estimate booked at that day will receive 100% off and so on :) Of course the event should be promoted way prior the date.
I'd appreciate your thoughts.
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RESPONSES

  • Posted by CarolBlaha on Accepted
    There is nothing wrong with a one day sale. I get notice of them often.

    It creates urgency, a tipping point.

    But you have to have the blitz to make sure people know about it to respond.

    If you run them regularly, I think it's even better. Someone may realize they missed the opp, but when it comes around the 2nd time, jump on it. Then you become trained like Pavlov's dog-- when waiting and finding a reason to jump on it.
  • Posted by Gary Bloomer on Accepted
    Dear garry19,

    "One day" or deadline-driven sales, particularly if they're supported
    with a series of reminders, do a great deal to create urgency.

    The strength of the offer and the values and benefits obtained from the offer when they're added to the short deadline create a powerful call to action.

    That's the key: getting people to act—not in a week, not in ten days,
    but NOW. The prospect of somehow losing out on a great deal can really spur people to act. And when this is mixed with a hearty serving of social proof in the guise of testimonials, the sum of the whole becomes extremely powerful.

    One of the other keys is that it's the marketer's job to remind
    their customers to buy—it's NOT the customer's responsibility to remember, the marketer MUST tell their customers about a great deal and, in order to be really effective, it must be done respectfully, and based on an existing relationship.

    I hope this helps. Good luck with your sale.

    Gary Bloomer
    Wilmington, DE, USA
  • Posted by Jay Hamilton-Roth on Accepted
    For me, it depends on what's being offered. For example, I'm not sure if a surgeon offering a one-day sale would make sense. Likewise a Realtor (the lead time to decide to sell with or purchase from one is too long to tie it to a single sale date). On the other hand, my local printer, clothier, or masseuse may make sense.
  • Posted by CarolBlaha on Accepted
    yes Jay, but if you're an eye guy offering Lasik (sign up only today to lock in rate) that makes sense. or a realtor - sign the contract and lock in the rate, that makes sense.
    Travel biz does it all the time, book now for later date.
  • Posted by Gary Bloomer on Accepted
    Dear Igor,

    When I say "strength of the offer" I mean, how much the offer resonates and connects with the felt need or the pain of loss on the part of the recipient if they DON'TY take action.

    The more the offer connects with the prospect, the more the power of the offer anchors with the prospect's perceptions of "I need this solution to solve this problem". When this happens the tighter the psychological bond becomes and the more the desire to have that solution intensifies.

    To do this you need to reverse the risk of the fear of buying with social proof (testimonials from REAL people), and with powerful guarantees.

    When I say "benefits from the offer" I mean what will having, owning, or using the thing on offer allow the prospect to do, become, carry out, or solve?

    How will it improve their life or add something of value to their situation? The sales copy must imprint visions of how life will be better WITH the thing on offer and how it will be less fulfilling WITHOUT the thing on offer in order to stress the notion of taking action before the deadline runs out, or before the limited quantity is snapped up by other buyers.

    In short, people don't buy features, they buy benefits: it's all
    about selling the sizzle, not the sausage.

    I hope this clarifies things for you. Again, good luck with your sale.

    Gary Bloomer
    Wilmington, DE, USA

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