There are little things that make great Instagram/Facebook ads fail. One is the lack of what I call, “a reason to buy NOW”. As humans, it is normal to see a product we like, yet postpone buying it. I will be surprised if this hasn’t happened to you before, where you saw an IG ad you liked, but thought, “I’ll buy it later”. Except you never did. Now, let’s flip the cards. Your audiences are humans like you, you know? So, it is possible that they really liked your ad, yet didn’t buy. What I’m about to share will help you prevent that from being your case. Let me borrow a line from a friend,
“Now the whole crowd said, what shall we do to get saved, Master Yemi” lol
Here are some simple pricing tactics you can use to get people to buy your offers ASAP:
- The legendary Early Bird offer: This is a classic line that gets people to buy things sooner than they would ordinarily have. The way the Early Bird offer works is that you allow people to pay less for a product if they buy it within a time frame. It works mostly for event tickets, training, courses, etc. Example: If the standard price for a ticket is $200. You could offer an Early Bird price of $150, on the condition that people make payment before a particular date. This always works. It forces people to buy early. This simple tactic can prevent people from forgetting to buy your ticket.
- Restrict the time in which people can access the product: A perfect example of this is Black Friday, often limited to a short timeframe. This means that people can only get your product at a certain price if they buy within a particular date. This works perfectly for both product and service businesses. The idea behind this is simple. If someone sees your advert, and it clearly states that they can only get that product between the 10th to 13th of January, for example. It hurries them into buying it (if they are really interested). Nobody likes to miss out on great deals.
- Special discount to the first X amount of buyers: This is another trick you can use to get people to buy fast. Let’s say a product is going to cost $1,000 upon launch. You could allow the first 100 people to buy it for $800. Those who are interested in that product will not mind saving $200, just by buying early. This mostly works for soon-to-be-launched products. Some other people do it by asking people to join a waiting list so they can get the product cheaper.
- Price increases from X to Y to Z by days: This is one very powerful tactic that can get people to buy what you’re advertising, fast. The model is different from the ones you’ve seen around. The way it works is: you set different prices for different dates. Example:
Price: $100 before January 20th
Price: $100 before January 23rd
Price: $120 before January 25th
No one is going to wait until the price is at the highest before buying. If they really want what you’re advertising, they will buy it when it is the lowest. Again, this works best for products that are set to be launched.
Now, I have a little caveat to this. I am not a big fan of making every promotion about how low you can price your stuff. And the reason is simple, it’s a tough game to compete on pricing. What I have highlighted above are purely tactics. They should not affect your profit in any way if you do it right.
There you go for this week. Happy selling! Now you can worry less about people not buying what you’re advertising quickly.
Don’t forget…it pays to stand out!
Marketing Lead, Scrutiney
Digital marketing | branding | web design | marketing training