The Brand Marketing Show8 Dec 2020

How To Run A Boxing Day Sale

The biggest, hugest, fattest mistake I see eCommerce store owners make with their promotions is that they discount constantly! This is the fastest way to train your customers NOT to buy at full price.

But, used sparingly, a sale event can give your business a nice injection of sales revenue AND clear out slow-moving inventory.

It can ALSO help convert new customers by enticing them to stop sitting on the fence and try out your products for the first time...

I recommend only doing two to three big clearance sales a year: end of financial year, Black Friday, and end of calendar year (or Boxing Day).

A successful sale comes down to two things:

URGENCY and EXCLUSIVITY.

Why is this such a big deal? Because the whole point of running a sale is to create a sense of urgency and exclusivity in your customers. You can't achieve this if you discount constantly.

Urgency and Exclusivity SELL.

And the only way you're going to create a sense of urgency and exclusivity is to run sales sparingly, keeping people on their toes.

You want to make them think, "DANG, I better buy this NOW or I'm going to miss out on this great deal!"

A fear of missing out is always going to be the most successful motivator for action (AKA purchase!).

The "Now or Never" mentality creates urgency, and urgency sells a lot faster than "we'll be waiting for you whenever you may or may not feel like it", or "I know they'll run another sale next week so I'll wait till then".

Listen as I share our biggest takeaways from Black Friday that you can apply to your Boxing Day sale event.

PLUS I share some actionable tips to help you get the best results possible from your Boxing Day promotion.

….EVEN IF you desperately need to take a holiday yourself!

Det här avsnittet är hämtat från ett öppet RSS-flöde och publiceras inte av Podme. Det kan innehålla reklam.

Avsnitt(345)

How to plan an ecommerce promotional calendar for steady, profitable growth

A 40% discount on a 50% margin product doesn't cost you 40% of your profit. It costs you 80%. In this episode of The Brand Marketing Show, Catherine Langman walks through the arithmetic almost nobody ...

10 Sep 37min

I bought from a brand I'd wanted for months. I'll never buy from them again.

I finally bought from a brand I'd been following for months, and by the time I'd paid I felt slightly worse about myself than when I started. This episode is about why. Every website contains a predic...

3 Sep 38min

Your revenue grew. Your profit didn't. Here's how to get it back.

A premium brand in its second decade raised its ad spend by around sixty per cent. Revenue rose around twenty. Profit fell, and the founder was certain the cause was her advertising. The advertising a...

27 Aug 29min

How to Price Your Premium Brand for Profitable Growth

Your gross margin looks healthy – and it's probably lying to you. In this episode of The Brand Marketing Show, I show you how to price a premium brand for profitable growth, with real numbers from two...

20 Aug 39min

Why "just sell direct" is bad advice for premium brands (and the best advertising you're not paying for)

Your best advertising isn't an ad – it's someone else's shelf. And "just go direct" probably talked you out of it. Everyone is telling premium brands to cut out the middleman and go direct-to-consumer...

13 Aug 33min

Boring doesn't stop the scroll. Here's what does.

If your content doesn't stop the scroll, it's not because your packing-orders Reel lost to a better one. It lost to the four hundred similar versions that came before it, which had already taught her ...

6 Aug 25min

The real reason I don't buy from most brands (& the incredibly simple solution)

I'm the customer premium brands want most – and I recently realised I'd walked straight past one I should have loved, for a whole year, while actively shopping for exactly what they sell. In this epis...

30 Juli 33min

The marketing mistake that costs more than your ad spend

"If I could just crack Meta, I'd be able to scale." I hear a version of this almost every week – and it's almost always wrong. In this episode of The Brand Marketing Show, I make the case that growing...

22 Juli 37min