Do promotions really work?

myob

14 years ago

False scarcity tactics hardly ever work anymore, except perhaps in some non-IM niches.

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m30jake 14 years ago

Originally Posted by myob

False scarcity tactics hardly ever work anymore, except perhaps in some non-IM niches.

My niche is learning English (online english courses)
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- Tina Golden 14 years ago
  
  So you inflated the price of your product and then ran a "special" that brings it back to down to the normal price - and you wonder why that's not effective?
  
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  m30jake 14 years ago
  
  I did it for two reasons:
  
  - a product with a higher price has more "perceived value"
  - special promotions always grab peoples attention
  
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renukoot

14 years ago

Yes it plays an important role. But if you keep doing the method u are using, repeat visitors will slowly will leave out. So be careful.

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m30jake 14 years ago

Originally Posted by renukoot

Yes it plays an important role. But if you keep doing the method u are using, repeat visitors will slowly will leave out. So be careful.

My products an online English course so if you've bought it once thats it.
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Alexa Smith

Banned 14 years ago

Originally Posted by m30jake

My product was originally priced 20 euros, I put it up to 60 euros and now have a 40 euro off promotion to try and get people interested.

Do people really fall for this?

Maybe one or two super-gullible ones do.

But far more, typically, see through it and think it makes you look like you're trying to deceive them.

I don't know about you, but when I'm trying to sell something to someone, the last thing I want them to imagine is that I'm trying to deceive them. :p

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m30jake

14 years ago

Originally Posted by Alexa Smith

Maybe one or two super-gullible ones do.

But far more, typically, see through it and think it makes you look like you're trying to deceive them.

I don't know about you, but when I'm trying to sell something to someone, the last thing I want them to imagine is that I'm trying to deceive them. :p

How do you think people would see through it? They would only see through it if they waited until the months up but if they were interested in the product they would have bought it before as to save money. They would only feel deceived after parting with their money.

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Alexa Smith Banned 14 years ago

Originally Posted by m30jake

They would only feel deceived after parting with their money.

Oh well, that makes it fine, then. Of course. No problem here at all. Silly me.
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- m30jake 14 years ago
  
  Originally Posted by Alexa Smith
  
  Oh well, that makes it fine, then. Of course. No problem here at all. Silly me.
  
  Well thats the downfall of the technique, but in terms of making money surely it works? (however word of mouth may get affected if people spread bad word about it)
  
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  Alexa Smith Banned 14 years ago
  
  Originally Posted by m30jake
  
  Well thats the downfall of the technique
  
  Exactly my point.
  
  Your reputation is the most valuable asset you have, online.
  
  Originally Posted by m30jake
  
  but in terms of making money surely it works?
  
  This I doubt very much.
  
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  m30jake 14 years ago
  
  Originally Posted by Alexa Smith
  
  Exactly my point.
  
  Your reputation is the most valuable asset you have, online.
  
  This I doubt very much.
  
  so what would you suggest to do? incorporating the "bargain" idea, the "scarcity" idea and the "perceived value" idea? thanks
  
  Thanks
  
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  myob 14 years ago
  
  Originally Posted by m30jake
  
  ... They would only feel deceived after parting with their money.
  
  So essentially, you're deceiving non-English speakers, who really can't file a complaint or even warn others because of the language barrier. Pure genious.
  
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  m30jake 14 years ago
  
  Originally Posted by myob
  
  So essentially, you're deceiving non-English speakers, who really can't file a complaint or even warn others because of the language barrier. Pure genious.
  
  Well no because its aimed at Spanish speakers and they would see the site in Spanish and they can complain because I also speak Spanish :rolleyes:
  
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  myob 14 years ago
  
  Originally Posted by m30jake
  
  Well no because its aimed at Spanish speakers and they would see the site in Spanish and they can complain because I also speak Spanish :rolleyes:
  
  They can only complain to you? ROFLMAO!
  
  Thanks
  
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ganesh

14 years ago

All those marketing tricks work. Maybe a little more or less over a period of time but remember that it should be done the right way. The method you are using now is a big NO-NO. Your repeat visitors who have seen the old price are going to get annoyed.

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m30jake

14 years ago

Originally Posted by ganesh

All those marketing tricks work. Maybe a little more or less over a period of time but remember that it should be done the right way. The method you are using now is a big NO-NO. Your repeat visitors who have seen the old price are going to get annoyed.

My product doesnt get repeat purchases from the same person.

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WebRank1

14 years ago

You have two elements here, a 'bargain' and scarcity.
Bargain: by significantly decreasing your price for a limited amount of time (that last part is important) you could have the prospect make an impulse buy. However, like you said, there is no urgency yet. That is the drawback of a time frame as opposed to amount of available copies. 1 Day before the time is up a prospect can still buy it for the decreased price. So he has a whole month to think about it.

Scarcity: Promotion will end after a set amount of time has passed. This creates urgency but only after a while, you would do better if you limited copies as well here.

My 2cnts,
Mark

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liquidice04

14 years ago

When everyone is giving discounts, what is the point of the discount, just confuses the heck out of me.

I think that the price increasing after 10 sales is better tactic. Or price increasing on intervals until it reaches a peak point, a countdown timer

something like that would work better.

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