Human Psychology 101:
People like discounts.
So… the better the deal, the more sales you’ll get…right?
My client’s recent launch proved this wrong.
Throughout the promo, my client had a blanket offer.
(think 30% off sitewide)
But to sweeten the deal…
They came up with a different deal of the day during the launch.
Each day (besides the open and close day), there will be a 24-hour flash sale on a different product/collection. Some of these flash sales are off-the-cliff amazing.
So…
Most brands would assume:
“I would get the most sales on the best deal of the day.”
My client had this expectation, too.
The result?
The most sales = Open Cart
The second most sales = Close Cart
The day with the best deal = Pretty Average
Takeaway?
No matter how long you run your promo, most sales will still happen on the first and last day. (First day for warm prospects, last day for cold prospects)
That’s why I do not recommend running a sales event for more than FOUR days.
ONE
It’s stressful for the whole team.
TWO
It’s tough to sustain the excitement.
THREE
It’s not going to make you that much more sales.
Okay. This is the 10th Launch Lesson Learned email. I’m going to wrap up this series. If you’re doing a promo soon, here are the links to all the past lessons:
~ the easiest way to double your email revenue
~ how to email more without annoying people
~ curiosity killed the cat… and the objection
~ what happens after a flash sale
~ how to move excess inventories
~ you’re not a brain surgeon (duh!)
~ Klaviyo is not your friend (myth about Click Rate)
Talk soon,
– WYH