In this first MONEY TIPS bonus episode, we challenge you to do a flash sale this weekend. Don’t sweat it, we’ll walk you through every step of successfully putting on a flash sale: Planning, promotion, and performance review.
MONEY TIP EPISODE: WEEKEND FLASH SALE
First, pick what product you want to use. Think overstock items. Think seasonal products you are clearing out. You can even go with your bestsellers.
Second, decide what the discount is going to be. Do you want to do a certain percentage off or a flat discount? Or maybe a buy-one-get-one-free deal.
Third, pick a specific start and end time. Pick a time where you will be fully available to answer questions and keep tabs on your website or stand. You can also decide to limit the flash sale to whenever a certain inventory is sold out. Whatever you decide, be super, super clear with your customers. You don’t want them to miss your weekend flash sale just because they got the times wrong.
Fourth, promote. And promote some more. Make some Canva graphics or video reels to post on social media. Make a website banner about your weekend flash sale. Send emails to your list. If you have an exclusive list for loyal customers, offer them an extra incentive like early access or bigger discount. In all of your promotional materials, make this flash sale sound exciting!
Fifth, make sure every facet of your sales are on point and ready to go on flash sale day. Make sure your products are tagged correctly. Make sure any coupon codes work. Are all your links right? If you are selling in person, do you have everything you need packed up? Double check everything.
Sixth, launch and remind. Time to start the flash sale! Once it begins, send your list a reminder email. Then send another one about halfway through the sale period. Then send one when the period is almost over. They should get three emails from you to help them remember this awesome opportunity! Don’t forget to send thank you emails for every purchase.
Seventh, evaluate the sales performance. Take a look at your metrics. What worked, what didn’t work. Did you hit your goals for the flash sale?
This challenge will take your business to the next level! You’ve got this.
Connect:
Website: theproductboss.com
Instagram: @theproductboss
Produced by NOVA Media
