Scarcity Sells – Video Case Study
In today's video case study, I want to share with you how scarcity sells, with a case study of one of my clients who literally finished yesterday a launch to their list.
My client's in the Forex niche and basically they were selling a $1,497 product.
The launch was basically over three and a half days. It was closing at midnight yesterday, so that was a Thursday. This is Wednesday. Tues. Right, yeah, Tues and Mon.
Just want to go through, as I say, a real-life example of using Scarcity.
And we used a tool, which I've used, lots of my clients use, called Deadline Funnel, and I'll give you a link to that probably at the bottom of the post today. Again, scarcity, I've said it so many times and you've probably… if you've watched any of my other posts, Scarcity is one of those things that is abused many, many times by marketers.
You run your business however you want to run your business, but I would always suggest that you run it ethically. And Scarcity is one of those things, which is a very, very grey area that people do abuse.
With that in mind, I'll just show you a little bit of backstory to this particular launch. Basically my client, as I mentioned, is in the Forex niche, and they were changing how they were operating the business and going more into software rather than actually doing training courses. They wanted to offer one last time, literally one last time, access to the training course that they had. I've been working with this particular client for about four years now. Very ethical, the way they do things, and when they say they're going to cut something off, then they cut something off.
What we worked together with is doing a really… trying to generate a lot of income for the client because of the sale. And then, it was basically the time of recording this, it was the end of the month and we wanted to hit goals at the end of the month and close down the product then. So I just want to go through how we use scarcity in the campaign and what sort of results we got over the three and a half days. And I think you'll find this interesting and take away from it what you will, but my experience working with lots of different other clients is Scarcity works really, really well.
Deadline Funnel…Out Tool Of Choice
Again, as I said, we use a tool called Deadline Funnel and that basically will sync deadline timers, countdown time is to your email, so you've got to a real-time countdown in your email, and then sync it to pages on your website that you want to also have a countdown on. Then, when the expiry date reaches, you can redirect to whatever sort of page you want. Maybe it's the deal's over or a waiting list if you're doing something where you're going to relaunch something in the future to build up a list. But it does all this behind the scenes.
Very, very robust technology by the guy who runs it, a guy called Jack born, is a fantastic guy. I can't speak highly enough about the product and the service. I've been using it for about three, three and a half, four years now in my business. It's worked brilliantly. But again, the caveat is Scarcity, please use it wisely and ethically.
Here are The Results…
Let's just share some of these figures and what happened.
Overall, over the three and a half days, they generated 53 sales, it's just short of about $75,000 worth of sales. Very, very respectable, own in-house list, list was about 22,000 people. And basically, we had one email on this day, one email on this day, one the email on this day. And then we had three emails on the final day. Let me just share with you how the sales came in over those days.
The first day we launched, we got… let's put this down here. Three sales again. Again, not great, but three sales, nearly $4,500. Day one, the first full day of the promotion, we got eight sales. Again, starting to increase very, very nicely. People obviously have seen the countdown timer, counting down each time these emails go out, Scarcity starting to kick in. Again, if you've watched a couple of my articles, videos, Cialdini in his book Influence, Scarcity's a massive influence factor too to get people to buy. All this stuff is kicking in very, very nicely.
Day two, we had 14 sales. Nice increase in sales going up towards the end.
DAY THREE (Final Day)
And the surprising thing is, is on the last day we had 28 sales. Nearly, probably what? Over 50% of the sales on the last day. Again, take away with you what you will, read into what you like with that. The interesting thing with the sales is basically we had seven sales in the morning, seven in the AM. Then we had nine PM. This was before 9:00 PM. And then between 9:00 to 12:00, midnight, we had 12 sales. I think it was. Yeah, 12 sales. You can see how the Scarcity's kicking in. People seeing the countdown timer coming up to the end, they're going to feel that they're going to miss out. They tend to take action. Scarcity sells!!
The really interesting thing about this as well, when we were looking at the sales afterwards, is five sales came in the last 15 minutes. So, that shows you that people were waiting for that final nudge, seeing the countdown timer, somethings going disappear, and they're pushing to take action.
I hope you enjoyed this scarcity sells video case study?
Again, please use Scarcity ethically in your business. If you want to find out more about how to create deadline timers, how you want to create Scarcity, how you want to bring all these together in your marketing automation, please reach out to myself or a member of my team, would be delighted to speak to you.
We can definitely help you grow your business, make more sales using the marketing automation, things like webinars, membership sites, all these things using Infusionsoft, we would be absolutely delighted to talk to you, so I hope you enjoyed this.
Definitely try Scarcity in your funnel, see how it works for you, and remember, please use it ethically to see if scarcity sells more products for your business.