A time limited offer is a VERY SIMPLE and effective method to dramatically increase your profits, and even if you don’t double them you will certainly increase them by 40% or 60% and make the sale so much easier and more certain. However, before you use this simple technique you need to learn the art of selling without using a time limited offer.
The simple tool that we are going to use to achieve this for us is better known as SCARCITY!
The reason it works so well is that many people are more motivated by the fear of loss than they are the prospect of gain. It’s this fear that is lurking in the subconscious mind of most people which will trigger them to take IMMEDIATE ACTION and will increase your sales conversions.
So how does this time limited offer work?
Please imagine that you have just read most of the sales page of a product or service you are CONSIDERING purchasing. It appears to be a good product which offers value for money and provides you with a solution to a problem or challenge you are experiencing.
Now imagine TWO DIFFERENT possible outcomes!
…then, when you have read them both I would like you to think which of these two outcomes would be most likely to have you reaching for your wallet?
Scenario one:you arrive at the offer and the price seems a little more that you had expected to pay so you decide to think about it and you leave the website and you MAY return if life and other things don’t get in the way or distract you. (This is better known as a LOST OPPORTUNITY!)
Scenario two: you arrive at the offer and the price seems a little more that you had expected to pay but then you notice that this is an ALREADY DISCOUNTED price which is being offered and the discount is about to expire are revert to FULL COST again in just 2 hours from now! In fact, RIGHT NOW there is 80% off the full price but you will have to make an immediate decision or miss out BIG TIME!
Now you have your prospect FULL ATTENTION!
I already know the power of time limited offers from personal conversion improvements of 50% or 60% and often much more. If they are presented in a tasteful manor, such sales techniques can make a powerful difference to your bottom line profits.
As sales people we want our prospect to purchase NOW, this very moment and if not very shortly afterward. It’s a hard fact of a salesman’s life but the more time that elapses after your prospect has read your offer the less likely they become to EVER PURCHASING your product or service and for that is the main reason we provide this disincentive to delay their purchasing decision.
The most visual way of achieving this is by using a graphical countdown image because they ALWAYS catch your visitors attention and make you look very professional.
It’s so easy to achieve…
I use Word Press on most of my websites simply because it is so easy for even beginners to use and customise and because there are so many sales focused plugins which make the process of selling much easier and more fun. If you have a HTML or PHP website you will have to hunt for more difficult to install scripts to get the same result.
I have used two countdown scripts…
The first one is seen above and I just love it as it is so visible. It called ‘WP time bomb’ and it can be used for so many different purposes such as:
- Special Occasion SaleTool
- Webinar ReplayTool
- Membership Site DripFeedTool
- Perpetual LaunchControl Tool
- One Time Offer(OTO) Tool
- DownloadProtection (Page Expire) Tool
The second one is called WP countdown and as you can see from the illustration it highlights the countdown to make it stand out. You can determine the size of the countdown font and make it much larger if you so desire and the highlight in any colour your wish.
You can also use as many different countdowns or time limited offers on your website or blog as you wish although you can put two on the same page.
Are there any drawbacks to using these plugins?
The only problem I have encountered with the ‘WP countdown plugin’ is that it doesn’t work seem to with all blog themes and even a couple of the most serious ones such as Thesis or Optimize Press. Whereas the other time limited offer plugin: WP time bomb does and so far I haven’t found a theme it won’t work with.
I also very much prefer the larger display that WP time bomb offers and although I haven’t tested the two plugins against each other I would imagine it would convert a high percentage of traffic for that reason.
The one thing you must never do…
I am not sure about you but when this has happened to me it makes me angry that (weather I purchased or not) someone just coned me and made me feel used. At that point every bit of respect or trust which I had developed for that person or their product or service is completely destroyed. Till this day there are a few WELL KNOWN names that I remember and associate with such poor practice that I will never buy from and unknowingly has cost them ongoing lost profits.
So learn from this exceptionally POOR PRACTICE and make your time limited offers original and if you say they will expire at midnight make sure they do so! When your visitors and prospects miss out in this way they have just learned a VERY VALUABLE lesson which is that you are a person of your word and as a result they will move a bit quicker next time they come across one of your time limited offers.
But it gets better still…
As soon as I started to use time limited offers in my sales offers I began to receive a steady stream of emails requests offering me a variety of (sometime VERY INVENTIVE) excuses why they missed the offer and could I consider still offer them that price. This is a great example that highlights the power of using scarcity in your sales process.
- WP Countdown
- WP time bomb
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