Do you want people to rush your product? Do you want to completely sell out all your Product or overbooked? In this article, I shared vital information that will transform the growth of your business. Using the content of this article, you’ll never worry about customers not buying from you.
Not just that, implementing just one lesson from this article will make people rush your product and your product will get sold out quickly.
But then, let me tell you a short story.
Interested in the story right? Of course, you are. Ok, I’ll tell you.
Recently, on my way back to Lagos from the festive break with my family in Ibadan, I spent quite a long time at the garage before I could get a car to Lagos from Ibadan. I chose the park because it was quite close to where I reside in Ibadan.
It was frustrating staying at the park and yet no car was available. I really wish Uber or O’car is available for interstate travel. (That’s on a lighter note anyway). Or I’ve my personal Car already.
There were large numbers of people in the park and no bus was available. But here is it, when a car eventually showed up at the park. Guess what happened?
The price was quite exorbitant, far above the usual price. But, most of us still RUSH the car and willing and ready to pay the exorbitant fee. The Driver is happy and we passengers too are happy and money exchange hands.
Why did I share this?
You see, your goal as a business should be that people should be able to rush your product and not you begging them to buy from you.
You need to build a business where making sales is not a problem for you because ultimately, the extent of your sales will determine your profitability and longevity in business.
You need to build a business just like the Car Drivers that we rushed their product despite the high price. Your target audience should be able to rush to buy your product irrespective of the price even it’s EXTREMELY EXPENSIVE.
Nothing is cheap and nothing is expensive, it depends on who is buying and how you present your offer. The reason why people aren’t buying your product isn’t the price but due to two major factors.
- You’re offering the right offer to the wrong audience or
- Offering the wrong offer to the right audience.
If you can present the right offer in a structured way to the right Audience, be rest assured that people will rush your product as if you’re selling SEX to a Prostitute.
I don’t know if you did Economics back in secondary school but I did and one of the laws I was taught was Law of Demand and Supply.
But my focus is on the law of Supply. To paraphrase, it states the “The lower the supply, the higher the quantity demanded and vice versa. Now, that law doesn’t make much sense to me back then in secondary school until I started becoming a self-taught student of marketing.
If you can create a scenario that there’s is a low supply of what you sell, be rest assured that people will rush your product than ever before.
As a marketing consultant, I’ve seen this principle at work over and again. You’ve to create a fear of missing out if you want people to buy from you over and again. People don’t but products or services, they buy OFFERING.
If you get your offer right, then you’ll be fine. But if you get your offer wrong, you’ll struggle negatively.
One of what makes customer to buy from you quickly is when you create urgency for your products, in marketing, it’s called FEAR OF MISSING OUT and we’re going to be learning this strategy and by the end, you’ll be able to know Tested Strategies that will make people rush your product, get completely sold out and even make people start begging to buy from you. So here we go:
- Limited Offer: When your customers know that there’s a limited offer for your product, they will feel more eager to take action. Imagine this: We printed just 500 copies, what this means is that even if you’ve your money and the 500 copies are bought, you won’t be able to get the book and interestingly, this post you’re seeing is presently seen by another 1800 people. So, it’s better you take action and get your own copy. You see, there will be FEAR of missing out in most people that sees this and be eager to take action.
Here is another example, you can use as a call to action when utilizing Limited offer strategy, ‘We just have some beautiful new collections in our store, unfortunately, as much as we wish everybody get this, it’s not everyone that’ll be able to get it. This is because these quality bags and shoes are scarce and just 100 pieces are available. Therefore, it’s advisable to check it out and make your demand as soon as possible because in few hours, all the pieces might be all sold out COMPLETELY and we can’t ascertain when we’ll have these collections again.
Can you see this strategy in action?
- Limited Time: Timing is very important in business. Limited timing is another strategy that you can use to implement the fear of missing out on strategy. When people know that an offer is available for a very limited time, they’ll be eager to buy from you during that period. E.g we’re presently giving out this product at 0% discount and it’s only available for a very limited time. That means if you pay between now and next 5 days, you’ll pay just 30,000 as against 100,000 for this product. As you know, this is a time-sensitive offer and you need to take advantage of this opportunity while it lasts.
Here’s another example. “ There is a fast action taker massive bonus for you if you take action as soon as possible. And you’ll be blown away by the massive bonus we’re giving you if you are a fast action taker. If you pay between now and January 15th, you’ll have access to this class for #30,000 but if you pay after January 15th, the training revert to its normal price of #50,000 you’ll pay a sum of #50,000”
When people see that there’s no deadline, they tend to procrastinate action on buying your product or service. As a matter of fact, most people take action on deadline day than on previous days. Now, imagine there’s no deadline, the fact is that they might never take action. So, let all your special offerings be backed up by a deadline.
- Guaranty and Warranty: Another way to make people take action is by offering them Guarantee. People hate risk and as an Entrepreneur your job is to make buying your offer (Product or Service) less risky or no risk at all for the customers. This is because, if you successfully take risks away from your customers, they’re likely to make buying decisions almost immediately. And one of the most profound ways of taking risk away from customers is to provide them with guarantee such as Money Back Guarantee, free repair guarantee,
Here’s an example… If peradventure, you buy this product and make use of it and you feel it doesn’t worth every bit of the amount you pay, we guarantee you a 100 days money-back guarantee. What this means is that if after days that you’ve used this product and you feel it is a scam and you didn’t get the required result, you can request a refund and you’ll be paid your money without withholding anything back. In fact, you don’t have to give us the product and you’ll still get your money back from us.
Now, this strategy doesn’t work for all products so not all products can be completely sold out. It’s worthy of note that you must be sure you’re offering value and confidence in your offer to be able to make use of this strategy. And if peradventure, someone seek for a refund, kindly do so to fulfill your integrity.
- Offer Bonus: Offering a complimentary bonus is another way of getting customers to buy your product or service. Always try as much as possible to spice your offer with an incredible bonus. You see, a lot of people will buy your product not because of the products itself but because of other products that come as a bonus with the products. I’ve paid for a lot of expensive products not because of the product itself but because of an accompanying bonus. Here’s it, when you offer a bonus, people think they are getting the best deal doing business with you. The bonus can be anything e.g. Free consultation, free access, free training, and other previous products, buy one get others free, etc. However,
- Offer Discount: Discount is another way to utilize the fear of missing out strategies. Though, most times, I discourage discounts because most people use it blindly. To make use of discount effectively, you must give reasons. When you give discounts often, people automatically assume the discounted price is the normal price. And often, they’ll wait till you announce that a discount is going on for them to buy your product. If you’ve to give a discount, then note the following: A)Don’t give a discount often. B) Give your customers reasons why you’re giving the discount. When people know why you are giving the discount, they become even more motivated to take advantage of the discount you are offering.
Here is an application;
We’re presently selling at 50% off the normal price. That means we’re selling at 50,000 rather than #100,000. Why such a massive discount, you might want to ask? Well, we just strike a partnership with an international agency and they’ve promised to foot 50% of the bill while you pay the rest if you’re interested in the offer. And it won’t last forever because they pay just for 10 people and once I get the 10 people, I’ll automatically close this offer (and will not feel bad because you were t5he one that didn’t take action when you are supposed to ).
So, here you have it, you’ve to takes to make people rush your product so go ahead and implement Do you’ve any questions? Kindly Ask.