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Limited Time Offers ? Time Limits That Will Improve Your Sales
Using limited time offers can spark a feeding frenzy that will sell tons of your products or service. The key to success with this is ensure that you are only using this offer once in a while. If visitors notice you run specials once every month the word will get out and people will always wait for the special promotions to buy your products.
What is a limited time offer?
A limited time offer is a special promotion you present to your website viewers for a special allotted period of time before it goes back up to your normal every day price.
How can you profit from a limited time offer?
Build a list of interested prospects by making a free offer on your website. The free offer could be a special report, a product sample or free e-book related to the product or service you are trying to sell.
Then you have people that are interested in your product but have not bought for a variety of reasons (as they do purchase your product move them from your prospect list to your "customer list"). Periodically send a "members only" special offer to your prospect list offer either a discounted price on your current product or a special offer that adds value to your current product. By doing this you will increase your sales without loosing too much revenue.
How often to run a limited time offer?
There is no set time frequency of when you should run a limited time offer, this is entirely up to you. If you do it too much it will loose its positive effect, therefore it should only be done once or twice a year.
What else can you limit to increase response?
You can limit supply of a product. If you want to continue to sell the product after the promotion the key is to bundle other products to this exclusive limited quantity offer. After XX amount are sold the offer is gone forever.
You can give away bonus special reports, a free 1 hour consultation with you or a free related resource list that they can find useful in addition to your product.
Can this be used offline as well?
Yes this very same formula will work offline. Extensive studies have shown offline limited time offers often work better that online ones. The key is to test it for your specific market and see which gets best results.
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