Holiday Profits in Your Online Business

Lesson 1: Get Started Early

We've all been there. For whatever reason, we wait until the last minute to buy that special gift for that special someone. Have you ever been in a store two minutes before closing time on Christmas Eve? If you have, it's not an experience that you want to repeat.


The same principle holds true for you as an Internet marketer. You want to be ready to go well before the peak holiday season, or you may regret procrastinating. If one little thing goes wrong, you could miss the entire shopping season.


Remember that the earlier you start selling, the more money you'll have in your bank account.


Now is the time to get your marketing campaign, products, and strategies lined up and ready to go. By making sure that everything is in place as soon as possible, you can take advantage of classic buying triggers which online and offline marketers have identified in shoppers of all kinds.


Scarcity


There's nothing worse for a Christmas shopper than to go from store to store only to discover that the one item at the top of the list is sold out and no longer available. Likewise, you as a marketer can imagine the power you would have in being the merchant with only a few items left. The pressure for customers to buy dramatically increases as you reach the end of your inventory. Whether you're selling physical products or electronic products, the scarcity principle still applies if you manage it correctly. And when a potential customer discovers that your product typical sells out well before Christmas Day, you have an ace in the hole and will probably make the sale.


Pricing


Are you a student of television advertising? If you're in Internet marketing, you should be. What strategies work for traditional retail stores during the holiday season? If you study marketing around you, you’ll notice that advertisements around the holiday season stress discounts, special holiday pricing, irresistible incentives – anything to pique the customers’ curiosity and get them in the store. Consumers are savvier than ever before, and you should anticipate that they have researched what is available online and off-line, comparing prices, discounts, and special bonuses. If what you are offering is the lowest price or best price that they are likely to find, your Internet customers are more likely to buy without delay.


Emotions


Any beginning marketing student can tell you that the most powerful appeal in advertising is not logic but emotion. Most people don't buy a product after building a spreadsheet and comparing benefits and pricing. They buy because they feel something pleasurable associated with the product. If you study the sales copy being used by other Internet marketers, or the tone and wording of television advertising during the holidays, you'll be convinced that experienced marketers target customers’ feelings more than their logic. A good marketer can take casual Internet browsers who don’t even want the product and lead them through the sales copy, building their desire. By the end of the process, they are convinced that they can't live without this product. If you can create a strong sales message like that, most of the time you'll get the sale.


Layaway


It's back! More and more retail stores have tapped into what used to be a very common method of buying expensive items. The popularity of layaway began to fade when merchants discovered they could make more money selling on credit. Also, customers benefited by being able to take the product home right away, even if they took some debt in the process. However as more and more people struggle with credit card debt, they are attracted to the traditional layaway plan. The beauty of this system is that the customer doesn't incur any debt per se, even though they don't have enough money to buy the product at the time. They can pull the item out of inventory (note the scarcity principle at work) so that other shoppers can’t buy it. And an added benefit is that shoppers don’t have to put the entire balance on their credit card.

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Lesson Intro Video

Introduction (Prev Lesson)
(Next Lesson) Lesson 2: Deciding on Which Products to Promote
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