So What do you do when you have a huge online shop and want to move a HUGE amount of inventory in as little time as possible making a buckload of money in the process? Use every marketing gimmik there is.
Create scarcity.
Create limited time deals
Create "money saving oportunitites".
Lets assume you have to sell 500 (or much more) voltmeters. Lets assume that your target selling price is 20$. How will you sell all those with in 5 days?
Easy.
Choose to place the product on display 5 days before black friday. This way you beat price watching websites like camelcamelcamel.com
Pick a random display (virtual) price which is reasonable but more than your target selling price.
Anounce that you will make a great discount on this one for a limited time only.
The discount will be valid for a very limited time eg 1-2 hrs and then the price will go back up. But that doesn't prevent a few days after the "deal" say 16 days ( to prevent unwanted returns) the price to go back down to the originally targeted (real) price of 20$. Of course your customers will feel cheated, but who cares? After all prices go up and down all the time. Don't they?
So this way you get a load of people unloading your products with in seconds believeing they are getting huge savings which in reality are nothing more than the prices the merchant was intenting to sell all along.
HURRAY Black Friday!
Create scarcity.
Create limited time deals
Create "money saving oportunitites".
Lets assume you have to sell 500 (or much more) voltmeters. Lets assume that your target selling price is 20$. How will you sell all those with in 5 days?
Easy.
Choose to place the product on display 5 days before black friday. This way you beat price watching websites like camelcamelcamel.com
Pick a random display (virtual) price which is reasonable but more than your target selling price.
Anounce that you will make a great discount on this one for a limited time only.
The discount will be valid for a very limited time eg 1-2 hrs and then the price will go back up. But that doesn't prevent a few days after the "deal" say 16 days ( to prevent unwanted returns) the price to go back down to the originally targeted (real) price of 20$. Of course your customers will feel cheated, but who cares? After all prices go up and down all the time. Don't they?
So this way you get a load of people unloading your products with in seconds believeing they are getting huge savings which in reality are nothing more than the prices the merchant was intenting to sell all along.
HURRAY Black Friday!
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