Firesale Magician Brought To You By: -8-YourName-8- -8-YourWebsiteURL-8- Table of Contents FIRESALE MAGICIAN 4 WHERE’S THE FIRE? 4 WHAT IS A FIRE SALE? 5 BENEFITS OF FIRE SALES 16 SETTING YOUR FIRE SALE SCHEDULE 17 FIRE SALE FOLLOW UP 19 FIRE SALE “TRICKS” TO AVOID 21 WHEN NOT TO HOLD A FIRE SALE 22 SHARING THE WEALTH 23 LET’S REVIEW 24 CONCLUSION 25 FIRESALE MAGICIAN Put A Spell On Your Customers and Watch Revenue Soar! WHERE’S THE FIRE? You may be asking yourself, “So, where’s the fire?” Well, the fire is your drive. Your drive to sell and your drive to succeed. A fire sale for an internet marketer is not like a fire sale held for a closeout where “everything must go”. Rather, a fire sale for an internet marketer is about, well, marketing. The purpose of a fire sale for an online business owner is less about getting rid of products and more about gaining customers and increasing revenue. You want to gain exposure, and hence customers, by advertising your fire sale and ultimately, your business. The main purpose of the sale is to gain new customers and to not only let them know about your business, who you are and what you have to offer, but to entice them to buy with low prices. Maybe they would not otherwise give your products a try. That is when a fire sale comes in very handy! So, where’s the fire? Well, it lies within you. WHAT IS A FIRE SALE? According to Wikipedia, a “fire sale” is: “…the sale of goods at extremely discounted prices, typically when the seller faces bankruptcy or other impending distress. The term may originally have been based on the sale of goods at a heavy discount due to fire damage. A fire sale may or may not be a closeout, the final sale of goods to zero inventory.” Dictionary.com defines “fire sale” in two ways: “(n.) a special sale of merchandise actually or supposedly damaged by fire.” -or- “(n.) a sale, as of assets, at reduced prices, in order to raise money quickly.” Clearly, this report is not meant to focus on a sale of goods damaged by fire. So what will this report focus on? For our purposes, the definition will be slightly different and carry a much less negative connotation. Here is how we will define “fire sale” within this report: “A fire sale is the sale of products or services at extremely discounted prices that raise slightly over a set period of days in order to encourage and maximize sales and increase revenue.” While our definition is slightly different, a true fire sale is in the eye of the beholder, and that beholder today is you! If you are reading this report, then you must want to: * Maximize efficiency * Broaden your customer base * Increase your revenue stream Conducting a fire sale is an art and this report will help you fine-tune your craft. And by the end of this report, you will become nothing short of a fire sale expert… or better yet, a fire sale magician… leaving friends and colleagues wondering just how did you do that?! Let’s dive in to your bag of tricks! Trick #1: Make Dollars Out of Sense Becoming a successful fire sale magician is not about “trickery” but rather, it’s about knowing the secrets behind success. In other words, you will use your business “sense” to produce a revenue stream. Do you follow yet? Let’s take a look at an example of how a fire sale might work. Let’s say that you want to sell an exclusive report that contains valuable information and industry secrets. You already know your customers are interested in the topic, but how can you entice them to not only make the purchase, but to do so immediately? You hold a fire sale! And here is what it would look like: Example A: Exclusive Report of Industry Secrets Act now and save! Original price of report is $100. Save up to 50% by acting fast while supplies last. DAY PRICE Day 1 $50 Day 2 $55 Day 3 $65 Day 4 $70 Day 5 $75 By creating a sense of urgency, your customers will be enticed to “act fast”! In addition, by simply saying “while supplies last”, you are implying there may only be a limited quantity of the report. Example B: Exclusive E-Book on Increasing Revenue Act now while supplies last! Original price of e-book is $250. Save up to 50% by acting fast while supplies last. DAY PRICE Day 1 $125 Day 2 $150 Day 3 $175 Day 4 $200 Day 5 $225 This type of marketing is well-suited (and encouraged!) for a fire sale. Why? Because this is what a fire sale is all about! Urgency. Urgent sales lead to urgent purchases and urgent purchases lead to immediate income for your business. Trick #2: Maximize the Element of Surprise. The only marketing tactic that draws customers in faster than a fire sale is surprising them with a special extension of that fire sale. Maybe they missed out on your initial offer and they have procrastinated so long, you are in your last day of the fire sale. At this point, they may not feel the savings is so great. But alas, you are one step ahead of them… as always! You let your customers know that “every copy must go!” and therefore, you are extending your fire sale “just one more day!” And not only are extending the sale an extra day, you are offering a one-time, exclusive “Day 1” price for the first five customers who place an order with you. Here is what it might look like: Original Fire Sale: Exclusive Report of Industry Secrets Act now and save! Original price of report is $100. Save up to 50% by acting fast while supplies last. DAY PRICE Day 1 $50 Day 2 $55 Day 3 $65 Day 4 $70 Day 5 $75 SPECIAL EXTENSION FOR 1 DAY ONLY!!! Day 6 $50 Suddenly, that customer who waited too long to get that great offer is back in your arms and anxiously chomping at the bit again to buy your exclusive report. Do you remember learning about the theory of supply and demand in your high school economics class? It’s simple. The less supply, the higher the demand. The higher the demand, the more supply is needed. With a fire sale, you create the demand by diminishing the perception of the supply. In other words, you may not be in jeopardy of running out of copies of your report, but by giving your customer this impression (not by lying but by implying) the product suddenly becomes more attractive. To bring this concept home even more, think about it like a dating relationship. You often daydream about the one that got away, right? (You don’t have to admit it, but everyone does this at some point!) Regardless, who was more exciting to go out with? The girl/boy next door, or the rebel without a cause? The concept is as old as time and you will find it can be applied to your fire sale and your business. It really does work! Trick #3: Disappearing Act What is the ultimate goal of your fire sale? * To sell more products? Yes! * To increase revenue? Yes! * To gain more customers? Yes! And how do you reach all of these goals? By making your products disappear… and fast! Ok, so how is selling more products any different than making them “disappear”? Well, it’s not. However, there is a slightly different underlying concept between each approach. One of your goals is to sell more products… now and later. One way you do that is by holding a fire sale to sell those products NOW. See the difference? A fire sale, as we have already mentioned, is an investment. You may not make the profit that you are used to on each item sold, but you will reap the benefits of a larger quantity of total sales. How is this beneficial? Because as you increase your units per transaction (UPT) and increase sales in the short term (by making them “disappear”) you are gaining more customers who are likely to give you repeat business in the long term. Trick #4: Bundle up! A fire sale isn’t always just for one product. A great approach for fire sales is to bundle together multiple related products, making the offer more attractive and valuable to customers. For example: Exclusive Industry Secrets Bundle Includes: - E-book - 5 Articles - 2 Sales Letters Act now and save! Sold separately, these exclusive products are worth over $500. But act now and save over 75% off of full retail price. Only available while supplies last! DAY PRICE Day 1 $125 Day 2 $150 Day 3 $225 Day 4 $300 Day 5 $375 It may seem like this is a lot to offer at such a low price. But remember, the purpose of a fire sale is not to earn maximum profit. It is to gain exposure, customers and secure ongoing revenue through value-added products. Trick #5: Keep Them Coming Back for More Fire sales are a great way to gain some quick revenue. They can also be extremely beneficial for businesses that are: * Facing financial difficulty & need a fast, easy source of revenue. * Just looking to get started and earn some initial income. * Interested in taking advantage of this perfectly viable and proven marketing tactic. But there is one very important thing to keep in mind… fire sales guarantee one-time revenue, not customer loyalty. It is up to you, the business owner, to turn those one-time sales into repeat business. You need to keep them coming back for more & there are a number of ways to do that. 1. Offer quality products and value-added items that illustrate your industry expertise. 2. Offer a discount off of fire sale customer’s next purchase off any regularly priced item. 3. Offer a membership discount, which not only secures their loyalty but can also help ramp up your membership marketing program. 4. Prompt your fire sale customers to provide you with important contact information during check out. 5. Send fire sale customers follow up communications asking them to offer feedback on the products they purchased and inviting them to enjoy a discount on their next purchase in exchange for their participation. 6. Offer exclusive extensions and/or offers on products similar to those they have already purchased. (i.e. if they bought an e-book on affiliate marketing during your last fire sale, they just may be interested in articles on the same topic.) There is so much you can do, but you will have to put the effort in to make sure you take advantage of the opportunity a fire sale can bring to you. Trick #6: Make Success Appear Out of Thin Air Once your fire sale is complete, you may feel like you have just created success for yourself out of thin air. Congratulations! You have. It really is easy to turn a quick profit by holding a fire sale. So now what??? Now you have to take that “success” and make it last. Not only do you have to keep your fire sale customers coming back for more, but you have to deliver on your promises, keep your business ahead of the competition and constantly seek to improve upon your products, your service and your image. Though it may seem your success has appeared out of thin air, it is up to you to maintain that success. BENEFITS OF FIRE SALES Here are some benefits of holding fire sales for your business. Benefit #1: Your Business Will Grow When done correctly, fire sales will make your business grow. They provide exposure to a broader section of your target market. Fire sales bring in a source of revenue to help build and/or secure your business and they provide opportunity to gain future loyal customers and members. Benefit #2: Productivity Will Increase Like it or not, your productivity will also increase as a result of your fire sale. It’s inevitable. You will have to produce more products as more of them “fly off the shelves” during your sale, and moving forward, you will need a larger inventory to keep up with your larger customer base. Benefit #3: You Will Have More Time It may not seem like it now, especially since you will have to produce more to keep up with your ever-growing business and customer base, but you will have more time as a result of your fire sale. How? Because once you realize how easy it is to manage, you will also realize how it helps to keep you… and your business in line… by forcing you to stay on top of what matters… …Producing quality products and earning your hard earned money. SETTING YOUR FIRE SALE SCHEDULE Fire sales can be helpful in boosting sales for your business, but they should be used in moderation. You don’t ever want to seem as though you are solely a fire sale business. You want to maintain your credibility by only offering a fire sale when necessary. And maybe your necessary is every month. That’s okay. But be sure you are strategizing. Let’s take a look at four examples of fire sale schedules. Example A: Annual Fire Sales Once a year, you hold a fire sale on your top selling products. You may consider both a bundle and an individual product fire sale. Bundle Fire Sale * Top-Selling E-Book * 2 Top-Selling Reports * 2 Top-Selling Articles Product Fire Sale * Top-Selling E-Book (Different title than e-book included in bundle) Example B: Semi-Annual Fire Sales This approach is similar to that of the annual fire sale, but rather than once a year, you would offer your top-selling bundles and products on fire sale twice a year. Example C: Quarterly Fire Sales Every 12 weeks (or 3 months), you offer a fire sale that focuses on bundles. Each bundle includes 1 E-Book, 1 Report, and 3 Articles. Quarter 1 – Customer Focus Bundle Quarter 2 – Profit Sharing Bundle Quarter 3 – Affiliate Marketing Bundle Quarter 4 – Management Bundle This approach makes sense because with each quarter, you are appealing to a different sub-section of your target market. Example D: Monthly Fire Sales Once a month (or every 1st or 15th of the month), you offer a fire sale on one product that is relevant to the “topic of the month”. January – Article, “The Importance of Customer Acquisition” February – Report, “Keeping Affiliates Motivated” March – E-Book, “Managing Business Finances” If you choose to host monthly fire sales, be sure to switch up your topic focus and offer new and truly unique products as often as possible. Remember, you must keep your customers interested! FIRE SALE FOLLOW UP You already understand how important is to follow up with your fire sale customers in order to gain their repeat business… but how do you do it? As your customers are checking out, you will require them to provide you with their name and email address. By collecting this information, you are setting yourself up to have the ability to reach out to them to: 1. Thank them for their business. 2. Make sure they were satisfied with their purchase(s). 3. Invite them to make a future purchase by offering an incentive. You absolutely must follow up in order to make your fire sale beneficial beyond the present. You have to secure your customers and this is the best way to do it. Here is an example of what your follow-up communication might say: “Dear Fire Sale Customer, Thank you for your recent purchase. I hope you have found the information contained in your
more than helpful. If you are happy with this product, you will love the many other helpful products and resources we have to offer! To show our appreciation for your business, we would like to invite you to benefit from more of products by saving 20% on your next purchase of $10 or more. Simply use the code, “FIRE” at check out and we will take the discount off of your total price. Again, thank you for your business. We look forward to serving you again soon! Sincerely, Internet Marketing Genius P.S. Don’t forget to check out our online store for weekly specials, monthly topics, FREE newsletters and more!” The “p.s.” is key as well. It is a last ditch effort to entice your customers to return to your site. And it really does work! Now that you know the tricks of the trade, you are officially a fire sale magician! But there are some tricks to avoid…. FIRE SALE “TRICKS” TO AVOID When putting together your fire sale, be sure to avoid the following: DON’T hold too many fire sales. One every couple of months is plenty. You may be able to get away with one fire sale each month, but be careful not to seem too desperate by constantly giving away your products for dirt-cheap prices. This will not reflect well on your business or the quality of what you put out. DON’T make prices so low that you aren’t able to turn a profit. Yes, the point of a fire sale is to offer major cut backs and reduced prices on your products in order to push as many “out the door” as you can in a short amount of time. However, you still have to be reasonable. Be sure you are making at least a 10% profit on all of your sales. Anything less than that is counterproductive. DON’T miss out on turning one-time customers into loyal ones. We have already discussed the importance of turning fire sale customers into long-term repeat customers. But, this is a point you can’t afford to miss. It is absolutely critical to take advantage of the opportunity to increase… and secure your revenue stream moving forward. WHEN NOT TO HOLD A FIRE SALE Fire sales are a great idea… but not always. You should NOT hold a fire sale if: * You are not willing to manage it properly. * You don’t have the resources to produce the volume of products you will be selling. * You aren’t interested in making more money. * You don’t want and/or can’t handle more customers. * You don’t have the “fire” to make your business successful. But you don’t fall in line with any of these things. How do I know? You are reading this report! Makes sense, doesn’t it? Fire sales can be extremely beneficial, but if you aren’t willing, able or prepared to handle the increase in revenue, customers and overall business then you may want to reconsider holding one. SHARING THE WEALTH As a fire sale magician, your friends, peers and colleagues will be asking, “How did you do that?” They will want to know how you managed to increase your customer base, maximize profits and still have time to spare all in a matter of days. Not weeks. Not months. Not years. And what will you tell them? Well, a true magician never reveals his secrets… but a fire sale magician can and will let others know just how great his or her products are in an effort to explain the seemingly overnight success. It’s okay to tell others about your fire sale. In fact, you should tell as many people as possible about them! That is how you will gain further exposure and grow your customer base even more. The bottom line is that you offer quality products at incredible prices to benefit your customers… and your business. It just so happens that your methods may seem a bit unorthodox to unassuming family and friends, but only you truly know and understand the importance of your fire sale approach. Your success is in your hands! LET’S REVIEW As a fire sale magician, the “tricks” you will need are: * Make Dollars Out of Sense Use your already finely-tuned business sense to create your successful fire sale campaign. * Maximize the Element of Surprise Create demand to maximize revenue. * Disappearing Act Watch your sales go through the roof as your products “fly off the shelves”. * Bundle Up Offer topic bundles to target specific sections of your market. * Keep Them Coming Back for More Turn those one-time sales into a reliable revenue stream. * Make Success Appear Out of Thin Air Your success is directly related to your investment and dedication. There are many benefits of holding a fire sale. Three of the top benefits include: 1. Your Business Will Grow. 2. Productivity Will Increase. 3. You Will Have More Time. You will need to decide on your fire sale schedule. You can choose to hold your fire sale on one of the following bases: * Annually * Semi-Annually * Quarterly * Monthly Anything more than monthly can make you seem desperate for cash, and cheapen the image of your business. It is also important to remember to follow-up with each of your fire sale customers because they are potential long-term customers waiting to happen. CONCLUSION Fire sales can and will be a great addition to your internet marketing business. Take the time to carefully plan out your fire sale strategy from the beginning. You will have to: * Set up a fire sale schedule. * Decide what your pricing structure will look like. * Determine which products you are willing to sell on fire sale. * Come up with a strategy to follow-up with fire sale customers. Once you have decided these important details, the rest of the details of your fire sale will fall into place. You stand only to benefit from a fire sale and your business will flourish from your investment. Because remember, it is an investment… of your time and resources… to ensure you are properly growing your customer base and ultimately, your revenue stream for the long-term. So again, congratulations on becoming equipped to be a great fire sale magician. Now, get out there and break a leg! Firesale Magician 2 -8-Your Website URL (without http://)-8-