7-figure Letter Issue #35 – re: Your Black Friday Offer

This is a new weekly newsletter that will be focused on going “deep” on a specific framework, method or strategy for scaling past 7+ figures in your online business.

 

I’ve planned over 100 Black Friday strategies this year alone…

From companies I own… to those I mentor…

 

And this week, I’m going to have my own. 

Be aware:
Your inbox about to get blown up 😉 

For a long time, I didn’t do the whole Black Friday thing…

But I guess after moving from Canada to the United States… 

It got in my blood a little  😉 

 

You may have a Black Friday promotion…

Or you may not… 

 

But I wanted to give you my theory on it and how I see it done right.

 

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My belief on Black Friday is that someone should be able to obtain something that they can’t any other time.

Instead… most of the time people just sell something that is simply discounted.

The problem with discounting something?

You train someone not to buy from you for most of the year.

And you train someone not to fully trust you….

As an example:

I’ll only ever buy an iPhone in November or December…

Because I know they release a new one every Fall.

If I buy one in June, I know it’s going to be the old version.

As another example:

I once bought something online for about $1,000.

It was for several months of digital access to a course and community.

But 3 weeks later, they offered a “special discount” on it for $297.

The exact same offer.

Not some “course-only” version…

Or any other tweak to make it a different offer.

Now…

Here’s the thing…

Offers change… time goes on.

I’ve done this as well.

We’re all learning and testing to find the right offer, message, and price for our market.

However, taking something that you are currently sell at full price and will also sell at full price 2 weeks from now….

….and discounting it heavily because “everyone else” does?

Or because it is the “easiest” path to take….

It might give you a flashy Black Friday offer…

…and maybe even some big numbers for a few days…

But because this discounted offer is going to be highly visible between the emails, social posts, and ads you share with your audience about it…

It’s going to hurt trust.

And it’s going to hurt trust with your highest value customers.

Because your highest value customers are the ones that care less about getting “the best deal”….

…and care more about the trust and integrity they feel from the people they want to do business with.

(And who they want keep in their lives over the long haul….)

Last year a client of mine went against my advice and did a full-on discount for their offers on Black Friday.

They made $936,000.

Generally they made $150,000 per month so they generated about 6 months worth of revenue in less than two weeks.

BUT….

They pissed off an entire segment of their audience.

They saw a sharp increase of bad reviews.

Far fewer of their buyers upgraded or renewed so far in all of 2023 they have not surpassed $150,000 per month in revenue.

Was doing nearly a million on the promo worth it?

Maybe…

So, here’s what you want to do instead…

This is my “full on internet marketer” offer that I’ll be launching this week…

I’ve never offered this before.

It’s not an offer I’ve ever given before

And it includes specific things that I’ve built…

That almost no one would buy together.

For a price that is almost a “shut up and take my money”.

Now…

In this specific Black Friday promotion…

My intention?

I want more people in my Modern Business Academy offer.

Why?

Because people CRUSH it once they get in there. 

While the Black Friday offer will be crazy valuable for those who take me up on it…

It’s this page I want the right people to “land on”…

And I’ll be honest:

The main Black Friday offer page includes a terrible VSL (I suck at them) to share why someone should sign up and get “everything” while they are at it… 

And the promotion in total includes 10 emails… across different segments of the list… multiple text messages… retargeting ads… and social posts…

But here’s the thing.

Once this offer is done… it’s actually done. 

And while I might bring it back next year, it doesn’t undercut anything that I have as an evergreen offer.

Because it doesn’t exist besides for this specific time. 

In this way, I’m using Black Friday as a “launch” instead of a “discount”.

And instead of just making $100K in low ticket sales…

I bring people into some of my best programs where I know that in 6-12 months they’ll want to upgrade to my $10K-250K options. 

And that is the true value.

Don’t use Black Friday to pick up the scraps
(and piss some of your best customers off while doing it) 

Use it to give people a great experience

And set them up to become your next best customers.

 

– Scott

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That’s it for this 7-figure letter. I publish new one every Sunday. Make sure to signup here to get yours.