The good, the bad & the correct way to do Black Friday

Описание: Did you know that the most powerful way to run a Black Friday, Cyber Monday (BFCM) promotion, is NOT discounts!
James reveals the answer in this video, but first, we dive into 4 pros, and 4 cons of BFCM.
Pros:
1. Generates cash quickly, make quick sales
2. Great way to clear out old products or services that you no longer want to offer
3. Your customers may be expecting BFCM deals, and delivering them that will keep them happy
4. You can get new customers. This means you’ll have their email addresses and other contact information, so you can remarket to them to sell other products or services in the future. You can also get testimonials or reviews.
Cons:
1. It can set an expectation on pricing – The lowered price is what the customer thinks that’s the true value.
2. Everyone is doing, what makes you special? How do you stand out? If you’re a small business you’re going up against companies with millions in their marketing budget.
3. It lowers your profit margins which means you’ll have to sell a lot more to make up for that loss in revenue. You could hyper inflate the original price to compensate when it’s sale time… but still, once you run a discount, point number one on this list will happen.
4. It’s a lot of extra marketing effort in terms of time invested and money spent, and you might not get the best return on this investment. Remember, Christmas and New Year is also around the corner. It might be better to invest that marketing effort into these other holidays around the corner… where your customers won’t be expecting massive discounts as they do on BFCM.
So, what is the right way to run Black Friday Cyber Monday (BFCM), then?
Watch the video to find out!
Because running any BFCM this way, will get you sales… without hurting your brand or creating psychological doubts in your buyer’s mind.
Enjoy the video and share your thoughts on Black Friday Cyber Monday in the comments!
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