Module 4: Build Your Site, Offer a Sale, and They Will Come by Mike K.
Check out this story from a real student, Mike K., taking the course. Then, when you’re ready to start creating your own eCommerce business with Fred as your teacher, sign up here!
Zero Up™ Module 4 is all about the sales funnel, which is the process that a customer goes through before buying something. The funnel begins with the customer learning about your product, continues with them thinking about buying it, and ends with them making a purchase. Fred shows us different ways of creating a sales funnel and his secret weapon for selling as much as possible: sales.
What’s so Magical about Sales?
Everyone loves a good sale; no matter what they’re buying. Fred uses that knowledge to his advantage. Think about it: How many times have you bought something whether you needed it or not because “there’s a great deal on it and you’ll save money.”
You may wonder how if a product is being sold at the sale price the seller can make any profit? I had that question, too. But in this module, Fred explained that when you sell an item, you are selling it for more money that you actually paid for it when you bought it from your wholesaler. So no matter what, you make a profit. I was surprised to find out that sometimes retailers even mark up the original price so they make a bigger profit once it’s put on sale. While that may sound a little “sketchy,” that’s how retail works. That’s why some stores can have permanent sales — they aren’t losing money, they’re making it. This is because sales encourage people to buy things they wouldn’t necessarily have bought and more of it. For example, if a customer is already buying something from the site and they see something that is on sale for half its price, especially if it goes along with what they’re already purchasing from the site, chances are they’ll jump on it.
Also, Fred explained that you should pay close attention to what is and what isn’t selling. If you have an extremely popular product, be sure to make that the number one product you include in deals.
So, yes, as a retailer you may be losing some money for that discounted product, but the more people buy, the more the average overall value (AOV) of your site (and your profit) increase. That is what ultimately matters, especially in the long-run.
Are you ready to take the next step and start your own eCommerce business with Fred’s help? Click here to get started now!