We’ve got an early one for you this week. Pulling one from the vault with a super last-minute guide to help win Black Friday and Cyber Week. Happy Thanksgiving!
📊 Snackable Stat: 20% of Annual Sales
for most US retail businesses are made from holiday sales, and this weekend is the start of it all. Consumers are ready to swipe their cards if they find the right deals. So how do you create a Black Friday deal that makes buyers beg you to take their money?
You’ll need 3 factors:
A lot of value for a perceived low cost
Limited availability
A time constraint (From Black Friday to Cyber Monday)
We’ve put together 3 Black Friday methods that you can use this year to win Black Friday and the Holiday season.
Here’s what you’ll learn..
How to position the strategic Product Launch
Leveraging the FREE Giveaway
Optimizing the Loss Leader
The Product Launch
Best For: New business or when launching a new product or service.
The Black Friday Deal: Buy one, get two free.
How It Works: When launching a new product or business, buyers don’t know how much your product or service ‘should’ cost. Use this to your advantage.
Multiply your original selling costs by 3. Then, offer the product or service at this new cost, and give away two free with every purchase.
Once Black Friday is over, you have two options:
Add on to your product or service to continue selling at this price. We recommend a few digital products that can be downloaded, like templates of guides that require no extra work on your part.
Drop it to its original price.
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The FREE Giveaway
Best For: Courses and other info products
The Black Friday Deal: Join this free webinar, and enter to win {Big Surprise Here}
How It Works: Announce that you plan to give away a big surprise for free, let’s say a brand new iPad or free services. To get a chance to win, they must join a webinar and stay until the end.
Then follow these steps:
Host/Schedule the webinar 3 days to a week before the offer goes live.
During the webinar, pitch your product. Make sure to keep it valuable with advice and by answering questions.
At the end, announce the winner AND offer everyone a voucher for 55% off your product (valid until a to-be-determined date that’s not too far into the future).
Not only do you get a lot of eyeballs on your product, but you’re guaranteed sales.
PS - Offer upsells in your product like Done For You’s or digital downloads to bring it up to the full price.
The Loss Leader
Best For: Physical products and service-based businesses
The Black Friday Deal: An unbeatable price
How It Works: Offer a strong discount on a product your audience needs. Then upsell them on a more expensive item.
Here’s how for physical products:
Discount an item by 85% or more until Cyber Monday. This will bring in tons of customers as you are offering an impossible offer that no one else can compete with… because you’re not making money on it.
That’s why it’s called a “Loss Leader.” You need attention on Black Friday, and this is a great way to get it.
Upsell them on a more expensive product that relates to the initial product. Raise the price of the second product so that you can offer a smaller discount on this as well.
Here’s how for services:
Offer a free initial service that relates to your service. For Example: A consultation or a single service (like 1 sales email).
Offer a ‘discounted’ offer on your package for the first 10 people who buy (valid until Cyber Monday).
Make sure to choose one Black Friday deal and put all of your time and energy into that. It’s tempting to use more than one, but you’ll see the best results when all of your energy is focused on one method!
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