3 Reasons Why Having a Fire Sale Make Perfect Cents
A couple of days ago we talked about why it's a great idea to participate in other people's fire sales. Today I'd like to share 3 reasons why you why I think it makes perfect sense (or “cents”) to run one of your own.
Tracy and I run these bundle sales regularly and have helped quite a few of our blogging friends do the same. They are a fun project and the end results are stunning.
If you're in a bit of a slump (be it financially or just unmotivated to work on your business), a fire sale is the perfect instant gratification project to get you excited about your business again.
As an added benefit, they are always very well received by your readers and customers because they deliver such incredible value. But more on that in a bit. Let's dive right into the first reason why you may want to run one of your own.
Reason #1 – Cash Flow
Let's start with the obvious. If you're in a bind and you need to raise some extra cash quickly, a fire sale is your best bet. Bundle a few (or all) of your best products into one bundle and put it up for sale. Get some friends involved too and start emailing your lists. Then sit back and watch the sales come in.
People love a good deal so create something of incredible value and then offer it to them for $10 to $20. We often have around $200 worth of products and bonuses in our fire sales. It's hard to say no to a deal like that and at $20 per sale, it doesn't take a whole lot of sales to make quite a bit of money.
Reason #2 – Cultivate Relationships
A sale like this is also a great relationship building tool. You are obviously working with your existing customer and subscriber base and are creating a lot of goodwill by offering incredible value.
Ideally you'll also be reaching out to other bloggers and info product creators in your niche asking them to donate a product to your fire sale. It's a great way to reconnect with old friends and of course make new ones.
Last but not least, this is an exciting time for your affiliates. Connect with them before you run the sale to let them know what's coming and keep motivating them throughout the sale to promote.
Reason #3 – Create Some Buzz
What surprised us the most during our first few fire sales was the buzz they were creating for our blogs and online businesses. As you start to reach a broader audience (with the help of your contributors and affiliates), you'll notice people sharing the sale via social media.
We recently got an email from a friend who had to put her online business on autopilot for the past few months. She's ready to jump back in and work on it again. She asked if a fire sale might be a good way to start things out with a bang and we both think it's an excellent idea. It's an exciting reason to contact existing contacts again and a great way to spread the word about what she's doing.
If you need a little extra cash, want to improve relationships with your audience and other bloggers in your niche or you just want to create a little extra buzz online, a fire sale is a great way to do just that.
Ready to Give It A Try?
We've put together a guide that shows you exactly how to run a fire sale.
We've tested and tweaked a system we've been using for the past 2 years and are sharing what we've learned with you.
You'll get a step-by-step guide (complete with examples from our own fire sales), a checklist to help you stay on track and access to Tracy and I via a private Facebook group.
We're here to answer questions and help you get in touch with potential bundle sale participants.