Growing up, you probably had a job at a fast-food or retail chain and your boss got on your case about letting customers know that free shakes come with that order. Or, if they buy one pair of glitter shades, the hot pink ones are half-off – today only.
Such wonderful memories they are but this was to get you ready for the world of moving units in business. Yes, you were probably that employee or boss who wondered why things must be so hard when one small order of fries will not make or break the company.
Yes, that burger clown on TV has a crazy advertising budget and can afford to give away meals to many people before there is an actual loss. Same goes for that retailer that wants you to create that sense of urgency by implying that the stock is low on a sale item, even though there are more than a few dozen in storage. And as far as the remaining items go, you knew that they would be marked down to nearly $0 the following week.
Now you’re the one in charge and though you don’t want to twist anyone’s arm, you’ve got bills to pay or worse, you’re working on a credit extension now.
In the online world, there are many business advantages and one of those is that digital items need no storage, other than your hard drive.
So isn’t this more reason to seize the opportunity? For one, if you don’t ask then you won’t know if your customer wants to buy this extra item at 50% off – TODAY ONLY.
Say you have a series of online articles related to your industry. Not only do you collect a residual (pay-per-click, or PPC) but since you (hopefully) own the rights, you can tailor them to a particular audience, throw in some graphics and call it an e-book. Charge $10 (or more) from your site but when you buy ‘X’ product; you can get the book for only $7 as part of a “bundle deal”.
Those big corporations had to start somewhere and most likely used these tactics and more to get ahead.
Another example would be a bookkeeper that is experienced in consumer finance. Though she makes a nice living preparing taxes during the early part of the year, she’s noticing more business from brand-new small businesses that need to file taxes quarterly. Most of these people are former 9-5ers who’ve been laid off or decided to strike out on their own. All they know is to get a weekly check and spend it.
So our bookkeeper decides to reach out by creating a series of e-books based on her revenue-based blog. These are entertaining yet informative articles that let people know how to spend wisely while transitioning, how to make small investments and find resources that pay more interest than the usual bank savings account. The bookkeeper can also double her money by placing advertisements from other companies in the book where she already has an affiliate account. She gives one book away with every referral or new customer and often people return for more unaware that the same information can be found online for free. It’s only her level of candor that makes it a great match for her audience.
Sell, sell, sell.