Ever seen a ‘fire sale’?
In general it’s a sale where the price of a product starts off very seriously low and gradually or quickly increases with every sale. They’re a popular way to launch or sell products in some internet marketing circles and can also be known as a ‘nickel sale’ or ‘dime sale’.
I really detest these kinds of sales!
Why?
Well here’s a few quick reasons:
1. Increasing Price? As a customer I’m seriously satisified if I know I have gotten the best deal at a rock-bottom price. How many times have you bought someone IRL (in real life) only to see it go on sale for 1/2 price a week later? Doesn’t that drive you mad? I know as a potential customer of fire sales it bugs me that other people got a better deal than me – like I’m being punished for not being front of the line and not getting the same value as the other customers.
2. Where’s The Fire? I see people doing this sales for the reason of making money. But according to Wikipedia the idea of a fire sale is to sell off items at a seriously low price to avoid a complete and total loss, such as times when there’s been an actual, physical fire that may have slightly damaged inventory. I feel like the ‘firesale’ is a bit of a sham and I don’t like that as a potential customer.
3. Are We Real Business Owners? As an online business owner it irks me that all these tricks and tactics exist to get the sale. I mean I don’t go to the grocery store at 5pm to see that the broccoli is now $5 because I didn’t buy it for $0.05 at 9am now do I? If we expect to get the same amount of respect as offline businesses get shouldn’t we behave without these types of games?
Overall I just think they’re icky and I would never recommend them to any of my coaching students or customers.
What do you think? Like fire sales? Make a ton of cash and don’t care what I think? Indifferent?
Let me know!
I do agree with your post to an extent because a lot of business owners approach it with the wrong mindset, but I think it can be a perfectly legitimate marketing method.
Whether you’re online or offline, running a small business or a huge corporation, as a customer, I know that I’m going to win some and lose some. The shoes I buy at Wal-Mart might be 50% percent off next week, but does that stop me from buying what I want right now? No. What about all the holiday stuff I paid full price for, and then see it go on sale the day after the holiday for 50%-75% off. Well, I might groan about it, but then I end up buying more stuff to stockpile for next year, and I feel so good about getting such a good deal that I’m not thinking about how I paid full price a day ago.
I don’t think there is anything wrong with having a sale. Firesale or not. If your customer really wants your product, they’ll pay whatever price you put on it, and they’ll feel good about their purchase.
On the flip side, I think there is a good way to approach firesales.
Use the idea behind the method as opposed to the actual method. And what I mean by that is, give your customers enough time to get your product at the lowest offered price.
For instance, I recently created a workshop that I offered to my market for $7 and that offer lasted a few days. I wasn’t doing it to “make a ton of cash”, I simply wanted to get my information into as many hands as I could, and recoup my expenses. Then after a few days, I increased it to $9 for a couple more days, and I did that for one reason…to allow the people who sat on the fence at the $7 price to still get it inexpensively before I bumped the price to $17, where it is now.
So starting low and working your way up doesn’t have to be slimy or firesale like. You can mould the method anyway you want.
As for offline businesses having more respect than we do, well, I don’t about that. And let’s face it, if we’re honest, we know offline businesses “play games” when it comes to marketing. How do you think they stay in business and make billions a year? They’re probably more slimy than we could ever be, LOL!
Great post Angela!!
Melissa
Melissa Ingold´s last [type] ..Flattery Can Get Your Business Everywhere
Twitter: AngelaWills
says:
Lots of good points here Melissa.
I like the way you did the sale better than the ‘internet marketing’ firesale where it just goes up and up. Seems more like a sale with an introductory pricing.
I agree yes that offline businesses must play games too but I guess my point is that I just don’t like them and don’t want to play, lol.
There ‘seems’ to be more sleezy business models in internet marketing BUT that might just be because I’m in it. I’ve never been in the ‘corporate’ world so yea I would agree my perception is definitely skewed on the matter. But that’s why I open it up for discussion and I certainly appreciate your view on it!
Yes – having sales can definitely be a good thing. And as long as our (mine, yours and the marketers who want to stay ethical!) customers are happy than that’s what matters most