Last Updated on
As a business person, you need to understand how time-limited offers can boost your sales. A limited offer on products is a valuable profit-boosting technique in any business.
Many Internet marketers have actually neglected this strategy. It’s a technique that can be best applied in online businesses, especially in affiliate marketing. This is because there is massive competition online in this kind of business. You will also appealing to a wider audience in the online market using this kind of strategy.
Time-Limited Offers Are Considered More Valuable
You should note that the value of a product is likely to increase once people realize that there is a time limit attached to the offer. This is a simple psychological technique that is applied to win the confidence of potential buyers. Some people are actually very reluctant to actually make a purchase, especially if they decide to buy items that are not basic needs.
An Example: Purchasing A Television Set
Here’s one example. Someone can decide to purchase a television set, but he may still fail to make up his mind early on, because he considers what he is purchasing to be a luxury item. As a dedicated entrepreneur, you may decide to create an offer on such a product and of course fix a time limit on it. A potential customer will then be able to see the offer, which reminds him of a plan he had for such an item some days or months back. The strict deadline for that offer will help convince the person to actually buy the product before it expires. In this manner, you are able to boost your sales dramatically, since quite a number of potential buyers will be alert and attentive to your offer’s impending deadline.
People do not like to miss out on special offers. You should be very careful when creating an offer for your products. Some online marketers make great mistakes when setting up such time-restricted offers. Remember that people nowadays are very sensitive with the online world due to increase of fraud. Anyone may access your business website and thus you should not post any untruths there. Great care should be taken with your business’ online reputation.
All Your Sales Offers Must Be Honest
Some websites advertise sales offers expiring within a single hour. But you may find that, upon leaving the site and then revisiting it again an hour later, you will find the same offer, similarly set to expire one hour later! This means that their sales content is not being updated, or the site is not genuine. In order to boost sales by use of this technique, you need to be very precise and you need to of course communicate honest deals to your customers.
The creation of time-limited offers is actually an effective, winning formula. For best results, convey both a limitation on the period of time that the offer will be available for, as well as a limitation on the number of products which are available for sale. This is because the two go together in any successful business. You may decide to set an offer on a particular quantity of products that you opt to sell within the least time possible.
Such information can reach a greater number of people within a short period of time. People will compete on the limited products within the stipulated period of time. There is a possibility of you selling all these products even before the offer expires. This strategy will be doubly effective if you incorporate both time and quantity. Setting up a particular quantity of products that has no deadline will not attract many sales prospects.
Best Practices: Set Limits to Time & Quantity
Make sure that your offer states the quantity, time and date. Once it meets all of these requirements, you are likely to build trust with your customers People will keep on checking your website to ensure that they do not miss out other great opportunities.
As an online marketer, there are a lot of questions you should ask yourself. Would you like to sell 300 copies in one year, or sell the same quantity in 2 hours? Remember that you can only make a fast sale if you create a good timely offer that stimulates the products demand. You need to create an offer whereby people will be competing to acquire the products before the set deadline. Customers are sure that on missing out on such an offer, it might cost them extra pennies to purchase the same product elsewhere. For that reason, you are required to set an attractive, timely offer. This will enable the sales to increase within a shorter period.
You can really boost your income by putting limits on your offers. You may choose to use software meant to help you set up genuine time-limited offers. Make sure the software you are going to use is quite effective. It should be able to update the available offers always in order to build trust with customers. Note that deadlines act as a call of action in any business. All this information can help you understand how time-limited offers can boost your sales.
If you are looking for a simple script that will create a simple countdown on your website, you can try the free countdown generator found here: Countdown.onlineclock.net/generator. Just choose the date and time for the expiration of your sales offer, and then generate the code using this online tool. You then need to copy the code onto your sales page. It can be modified in appearance by altering the CSS code for the countdown (you may want to ask your webmaster to do this).
But the possibilities are endless…so there is really no reason not to get started now creating time-limited sales offers!
Did you enjoy this article? Got any feedback regarding this industry? Don’t be shy, comment below and let us know! For more useful articles, please don’t forget to subscribe to the RSS-feed and follow Inspirationfeed on Twitter, Google+ and Facebook! If you enjoyed the following article we humbly ask you to comment, and help us spread the word!