“It’s sole purpose is to sell something quickly.”
So as you read in the article, when I used to work at Pepsi, which was forever ago like a lifetime ago, we used to run these things called flash sales. A flash sale or fire sale was when we wanted to liquidate, like close dated pop. So like Mountain Dew Code Red, or whatever stupid Pepsi flavor they had come out at the time. There was anything close dated, we had a couple of good sales. Or had a couple of stores that we would just dump it all off at, then they would just fire sell it. So it might be 50 cents a case or something. It was just meant to just blow the doors off. Then the store owner got credit for something, in the future.
So when I started hearing about flash sales, I started thinking about these fire sales and how crazy effective they were. I mean, we would just dump a pallet of pop in front of this mob of people, and they just started filling up a cart. Because they could get like a whole shopping cart of some orange, whatever, for $3 bucks, it was kind of crazy. So that was kind of the idea behind the fire sale.
Now, four or five years ago, when I got into email marketing, we started seeing a lot, lot, lot, lot of flash sales. Then these timers came out. The one that we use a lot is Deadline Funnel. But these times came out and they actually would count down how much time is left before a product or price goes up. So we started messing around with these things. The flash sales, just what happens, blue light the world on fire in terms of like running a promotion to your email list. So we continued rocking them.
What do you need to have a flash sale?
Now the logistics of a flight cash sale are really pretty simple. You need to have a product, that product needs to be on sale for 24, 48, or 72 hours. You promote that product through email. Sometimes you can run some retargeting through it. It’s not enough time usually for somebody to learn all the logistics of your course and your brand and everything. But it’s really, really great for an email list for re-targeted ad campaigns and to clean up sales.
Now your front end product is usually the thing that is discounted. So if you have a $97 digital course, you might have a flash sale and that digital course is $7 or $17 or $27, like some ridiculously low price. But if you have a sales funnel up and running, then you have upsells and down sales. So if normally somebody pays $970 for a digital product, and then you send them to a $297 offer, and then a $497 offer. Then you know that your metrics typically, you might sell 20% or 30% might buy upsell number one, Then you might have 10% of people who buy upsell number two.
So when you have a flash sale, you are shoving people into the front side of your offer. So you’re getting 10 times more, $7 sales than you would’ve gotten $97 had this flash sale not happened. This means your true advantage really in doing a flash sale is in monetizing your upsell path. Because your upsell path is still… You’re not changing, you’re not changing those prices. So you’re still charging $297 and $497 for the upsells. So don’t do anything with those. All you’re basically doing is just discounting the initial offer, the front end offer for 24 hours, or 48 hours. Then you’re following that up with email. So that’s one of the things we like the most about flash sales.
Advantages of Flash Sales
- Drive a Ton of Traffic
- A load of Sales in the Front Side
- Monetize through the Upsell
In a way that you can’t do in any other point without running a flash sale because if that product is just sitting there and you’re just emailing traffic, there’s no urgency, you’re not creating any kind of movement. So they’re just like, “Eh okay, it’s still full price.” So when they see the flash sale, though, it gets them to take action. Then taking action puts them in the buyer mentality. Then once they’re in the buyer mentality, they buy all the upsells. So that’s the idea behind a flash sale.
For Questions and Guide
If you have any questions at all, go ahead schedule a call with us, go to ConsultingSession.com and book a time on our calendar. We will look through your offers, your product, your business, figure out how a flash sale would work. Write your email copy, sales, copy, all of that stuff. We can take care of all that for you. If you liked this video, make sure to like, share, subscribe, comment.