Oftentimes people think that they need to discount their products by huge amounts in order to compete during Black Friday or any other holidays. Oftentimes this means that you’ll have a much lower average order value or a Ov. It’s essentially how much money you make from each transaction. So you’ll have to depend on an increase in volume to your website in order for your brand to do well.
So in this lesson will cover how to craft the perfect offer so that you can increase your HIV while also offering a huge discount to your customers. In other words, creating a win-win scenario. Let’s get started. And so we’re going to explore a little bit of human psychology and create a little bit of a structure to make sure that we create the best win-win scenario.
And so the first part of this offer right because you have to have an offer for your viper contest to be able to get people to sign up. And then the second offer is having an offer for you actual sale. How do you package your products together on Black Friday or whatever sale to maximize the win-win scenario. And so the presale offers what we’re
going to talk to you first. And you know for Black Friday. It’s a very simple thing to maybe offer a couple of dollars store credit to your store or first access or a six months supply of your product plus first access to your store or in the case of some. This is something you can use anytime throughout the year
is parent it with a complementary product understanding what your customers think is valuable and how they use your product. So an example of coconut bowls they have these really cool bowls made from use coconuts and so they recognize that if people are using their bowls to make smoothies and different us eyeballs they oftentimes
need a blender strong blender. So they bought a couple of those blenders and they included that. So not only did you get a handful of their products a ton of their products. They also give you a brand new top line blender. And so that a victim makes I believe it was. And so that made their offer very, very valuable. So they understood what was in offer for their customer.
So as you’re thinking about this now just take a pause for a second and think, all right. What other complimentary products or brands are out there that would really get my customer base excited. And one oftentimes you could usually reach out to the brand and let them know that you’re doing this idea. And they will contribute that together and you guys can co
promote or you just figure that it’s very much worth the investment. The amount of money that you’re going to put to coming out of pockets to get a complimentary product will just make your offer that much more valuable. And that was one of the keys for them being able to get 41,000 new emails during their campaign
now that you have your presale offer figured out. Let’s talk about the type of offer you should do once your sale goes live in order to maximize your average order value. And the best way to do this is through bundles. And this is because we have something called a quantity break. This is essentially, when you know,
there’s very minimal discounts for one product. But there’s a substantial discount for them buying more than one and an even bigger discount if you buy more than two. So in this example, you would see one is for 200. But they can get two for 350 or they can get three for 500
and if you want to really like move the needle. And you want to focus people on one type of offer like if you want to really focus on getting people to buy to you would make this a more lucrative discount. So you may do one for 200 or two for 300. And then three for 500.
And by positioning and not offering a huge discount on one like I usually opt for a 10% discount on just one item. But I offer a big jump in a discount by ordering two. It usually moves my average order value up. And you can also do the same two if you want and buy three items. And one thing to keep in mind is that you have to be realistic about how your product is used.
Like I have products in the personal care and wellness industry. And I know how long my products last. So it’s very common for someone to maybe buy two or three of my products. If you’re sell at a high end laptop like this. In this example, it’s probably not. It’s probably not likely that someone would want to buy three laptops. Right and so you just have to be realistic with how you are
creating these offers together. Also, if another option you can use is also doing a buy one get one strategy. And so if especially if you have excess stock, you’re sitting on all inventory these are four stores who can’t create bundles on anything because you may have a ton of SKUs or you have a lot of excess inventory just using a simple one get one app creates the same sort of thing
where you can buy one get one 50% off. It seems like a big deal to use from a psychological standpoint seems like a huge deal. Realistically that’s it. That’s just a 25% off or buy one get one free. The math on that is still the same as offering a 50% discount. So sometimes we can do you know buy one get one 50% buy to get one free and just mix it up,
whatever is more comfortable with you just look at the math and realize how much money you are going to get in your pocket versus what that discount would be. And considering how much of a deal your customers or perceive that they’re getting a more advanced way to do this is to offer a tier. And so the same example before you would throw on something.
So not only do you get a bigger discount with two. But you also get free shipping or not only do you get if you buy three not only do you get free shipping. But you also get a secret gift. And I don’t know what it is about this secret gift. But people love secret gifts. This is also something that we do throughout Black Friday, we may have this a traditional gift a traditional sale
and then on Cyber Monday we may offer free shipping plus a secret gift. And the great thing about the secret gift is it’s totally up to your discretion on what that is. So once again, it could be excess inventory stock that you want to get rid of or whatever the deal is so use that seek secret gift to your success.
And this is just a screenshot from one of the students that I actually share the strategy with before. And this is actually Jason who I mentioned in the intro video. And so here’s a email from him saying, hey, I implemented your Black Friday, Cyber Monday strategy. And it did wonders. We nearly doubled the sales in that one week. Then what they did their entire whole November
the year before he said, thanks for sharing your knowledge man. It paid off 100 times over and there you see a screenshot of his story sent me a screenshot of his ads in his store where he did a $147,000 just over that eight day period. So Jason actually started the Monday
before Cyber Monday, the Monday before Black Friday and all through Cyber Monday. And so eight days total and 147 k, which is a 1,200 percent increase over his prior Black Friday, Cyber Monday week. So massive, massive results. If you implement this and stick to the strategy.
All right, guys. I’ll see you in the next video.