"Buy it now or price will increase later!"

13 years ago

But you know what, when you promise that the price will go up on a certain date and it actually does, you train those who are following you to believe you and to buy when the price is low.

Most of the time I do this with a payment plan, that starts out with a course tuition divided into four payments of $249 each. Then it changes to a three-payment plan of $332 each, then to a two-payment plan of $498 each. I change the plan exactly on the day I say I will, and this does motivate people who want the more generous payment plan to grab it.

When you do what you said you would do, it's honest and it builds trust.

Marcia Yudkin

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misterkailo

13 years ago

ok but what about the people who say the price will go back up on the specified date, but it never does?

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benzwm02 13 years ago

Originally Posted by misterkailo

ok but what about the people who say the price will go back up on the specified date, but it never does?

Then you know next time you see an offer by them that the price will never change and the call to action will be meaningless.
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KriiV 13 years ago

Originally Posted by misterkailo

ok but what about the people who say the price will go back up on the specified date, but it never does?

They can be branded as a liar and their sales will follow suit.
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johnben1444

13 years ago

Originally Posted by misterkailo

I have seen many products out there that have a never ending sale. Is this even legal? If you're not sure what I am talking about, then I'm talking about this:

"Only $20 now!! Price will go back up to $100 in less than 24 hours!!"

You check out the price few months later and it will still be $20. I just think it is a shady business practice.

I call that setup!

It use to be very powerful in the 2003 when the internet started booming newly. The actual price is the discounted price but they want to lure visitors, some will call it marketing strategy but i thought they also said good product sells itself.

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misterkailo

13 years ago

Originally Posted by johnben1444

I call that setup!

It use to be very powerful in the 2003 when the internet started booming newly. The actual price is the discounted price but they want to lure visitors, some will call it marketing strategy but i thought they also said good product sells itself.

so you're saying if product is IMPRESSIVE, then the person can just list the price as $20 without lying about the retail price of $100? I agree with you on that one

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Steve B 13 years ago

Yes, such practices are a setup.

They are also called "scarcity" where the low price is going away soon so you better hit the "buy" button before you lose out.

Having a timed sale is one thing - it's seems to be proven to bring in product sales quicker.

But there is a problem if the marketer doesn't follow through and take the sale off the table when he says he will.

If a marketer lies or misrepresents something in his advertising, I personally feel like the marketer can't be trusted to tell me the full truth about his product or service either . . . and I won't buy.

You may feel differently.

Steve
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Alexa Smith

Banned 13 years ago

Originally Posted by misterkailo

"Only $20 now!! Price will go back up to $100 in less than 24 hours!!"

You check out the price few months later and it will still be $20. I just think it is a shady business practice.

It's a whole lot worse than just "shady". It's downright fraudulent.

(It's also particularly naive, but still sometimes used by marketers who genuinely don't appreciate that their potential customers see through it and mistrust them because of it. I don't know about you, but when I'm trying to encourage someone to buy something, that last thing I want them thinking is that I might be trying to deceive them! People doing this have not split-tested it: they've either learned it from other naive, gullible people who were at the time pretending to be copywriters, or they just copy it themselves imagining that it "must" work, otherwise people wouldn't be doing it!

:p :rolleyes: ).

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RabbitAnimate

13 years ago

Originally Posted by misterkailo

I have seen many products out there that have a never ending sale. Is this even legal? If you're not sure what I am talking about, then I'm talking about this:

"Only $20 now!! Price will go back up to $100 in less than 24 hours!!"

You check out the price few months later and it will still be $20. I just think it is a shady business practice.

Price increase in 24 hours is too obvious, usually marketer make it "maybe I will increase the price to $xxx if I change my mind", yet he never change it, or setting dime sale price.

I think it's not illegal, many of TV programs that sell 'amazing tool' use this. "call now only for $xxxx, and you'll get bonus this, this and this !!!"

IMO, using coupons give more effects than this.

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WillR

13 years ago

Yeah, these same methods are used on tv advertorials in my country (not sure if the same overseas) and I often can't believe they get away with it.

If you are one of the next 30 callers, you will get this bonus xyz

Do you really think they are only giving the bonus to the first 30 callers? Considering the same ad plays at different times all throughout the day, it's just a load of crap. I can't believe advertising boards let them get away with stuff like that.

It's an outright lie.

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Mike Hill

13 years ago

Originally Posted by WillR

Yeah, these same methods are used on tv advertorials in my country (not sure if the same overseas) and I often can't believe they get away with it.

If you are one of the next 30 callers, you will get this bonus xyz

Do you really think they are only giving the bonus to the first 30 callers? Considering the same ad plays at different times all throughout the day, it's just a load of crap. I can't believe advertising boards let them get away with stuff like that.

It's an outright lie.

Well it's not a lie... They say the first 30 callers will get XYZ but they do not address if you are the 31st caller. They DO NOT say if you are NOT one of the 30 you will not receive this. They just say if you are one of the first 30 you will get XYZ.

People tend to completely assume on their own that from the 31st caller onward they will not get XYZ... when in fact they haven't even addressed this.

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emini_guy 13 years ago

Originally Posted by Mike Hill

People tend to completely assume on their own that from the 31st caller onward they will not get XYZ... when in fact they haven't even addressed this.

Good point. People tend to make assumptions that are really not warranted and sometimes even defy logic.
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WillR

13 years ago

Originally Posted by Mike Hill

Well it's not a lie... They say the first 30 callers will get XYZ but they do not address if you are the 31st caller. They DO NOT say if you are NOT one of the 30 you will not receive this. They just say if you are one of the first 30 you will get XYZ.

People tend to completely assume on their own that from the 31st caller onward they will not get XYZ... when in fact they haven't even addressed this.

Actually, no, they definitely say the first 30 callers only. I've made a point of listening for the word 'ONLY'. There are definitely some that say that and that is definitely misleading.

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Gerald Arno

Banned 13 years ago

The best marketing is authenticity and honesty, particularly if you want to make the repeat sale.

While some bogus techniques work well it does not mean that this is the most profitable way to making the most money from your leads. Some people, mostly newbies, who fall into this trap learn either way, some slower and some faster.

Stand behind your word and don't offer a bonus that you don't have or even worse market a feature that you can't deliver.

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Auzan

Banned 13 years ago

[DELETED]

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Greg guitar 13 years ago

Originally Posted by Auzan

Good sales letter combine with this technique will make you more sale.

For me, it is just a tactic. No one force people to buy. They buy because they want.

The decent people on this forum can only hope that you get nailed next time you try this sleazy, criminal tactic.
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emini_guy

13 years ago

Originally Posted by misterkailo

I have seen many products out there that have a never ending sale. Is this even legal? If you're not sure what I am talking about, then I'm talking about this:

"Only $20 now!! Price will go back up to $100 in less than 24 hours!!"

You check out the price few months later and it will still be $20. I just think it is a shady business practice.

I am not sure if it's shady, but you definitely lose credibility if you act like that and the price really does not go up. I do like to offer discounts from time to time and may even extend them (nothing wrong with that), but eventually the price hits a new high. It has been like that for years. The price keeps rising, smart people buy on dips, and some when they see a new high and are scared that it can go even higher soon. People can be pretty bad at timing.

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JerrickYeoh

13 years ago

It hard to bring down in to legal issues because they might just said that they notice the promotion is effective and they decide to extend .
Some even worst that come with fake sign up numbers and fake countdown promotion end while everytime you refresh the website , it will show again the number recalculate.

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Greg guitar

13 years ago

Originally Posted by JerrickYeoh

It hard to bring down in to legal issues because they might just said that they notice the promotion is effective and they decide to extend .
Some even worst that come with fake sign up numbers and fake countdown promotion end while everytime you refresh the website , it will show again the number recalculate.

I'm no lawyer, and obviously, neither are you. But I am pretty sure the fact that the criminal might say "I was going to honor my word, but changed my mind when I saw how many sales came in" would not make it hard at all to prosecute.

I doubt any judge would consider that a legitimate defense; more likely they would laugh out loud at the criminal for thinking they could weasel out of it so easily.

When you advertise publicly, you are bound by your word; it's called a one way contract. It is as binding as a two way contract.

Just like you can't say 1/2 off everything in the store all week, and then change it to 25% when the shoppers show up, you can't say "special price for today only", and then leave the price the same afterwards; it's a breach of the contract you bound yourself to when you made it public.

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talfighel

13 years ago

A lot of products and programs online use this type of strategy. It is normal. Yes, it is a lie but if it gets people to make a buying decision on the spot, then why not?

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Greg guitar

13 years ago

Originally Posted by talfighel

A lot of products and programs online use this type of strategy. It is normal. Yes, it is a lie but if it gets people to make a buying decision on the spot, then why not?

Why not? How about, because lying to make a sale is a crime, and it's a crime because it is immoral. If you can't sell without lying, you shouldn't be selling.

Your question might be acceptable coming from a 4 year old; a grown man should know better. Actually, most 4 year olds probably know better.

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GrowMyForumCommunity

13 years ago

I wouldn't deal with this "strategy". It makes your reputation a little bit bad, and people will trust you less. I would rather discount it for a set period of time (say, 3 days) then put it back to its original price for a couple of weeks. Then, put it back to its discounted price for a set period of time, then back to its original price, then... (it goes on a cycle).

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