Fire Sale Advice

[ivanl]

Hi everyone,
First, I'll apologize if this post is in the wrong section. I wasn't sure where to put it, but I run a gardening niche website so I figured this was pretty close.
Anyway,
I'm about to run a 6 day fire-sale. Every 2 days I'm going to increase the price, probably by $10.

My question is, after I increase the price the first time, should I show that the price has increased (e.g. put a strikethrough through the old price, and put something like ("sorry, you missed out, get this collection at the new price before it goes up AGAIN"), or something similar, OR;
should I just increase the price and that's it?

I'm mostly wondering which way will convert into more sales? Any thoughts? Thanks everyone.

 

[djbaxter]

er I increase the price the first time, should I show that the price has increased (e.g. put a strikethrough through the old price, and put something like ("sorry, you missed out, get this collection at the new price before it goes up AGAIN"), or something similar,

Speaking as a consumer, I would recommend doing this each time the price is increased.

 

[hiltonm]

Price Increase

Do you have a bonus for the price increase, just a simple piece of information for your audience? It will give them more of a reson to purchase and let them know what they are missing out on. I hope this helps. Mike.

 

[ivanl]

Thanks for the feedback guys. I think I'll go with showing the old price as I mentioned. I also have a countdown timer on the page to add to the sense of urgency. I don't have a bonus with the price increase though there is a bonus as part of the package. I was thinking of adding an exit popup and adding another bonus that way.

 

[Ron Bechdolt]

Myself, as a customer, reading what you posted...If you sold it yesterday for that lower price I would go searching the web for someone else selling it for that lower price. My way of thinking is that if one person can sell it that low, then maybe others are too.

Now, you may be getting impulse buyers, so I can't say how it will work for you. Just my thoughts from the consumer side.

 

[ivanl]

Good point Ron. Though I'm selling a whole collection of products together as a package(took about a week to put together). So It's unlikely that the collection exists elsewhere, but that won't stop people looking, right. I guess I could promote the idea of the collection being unique or very difficult to find elsewhere, etc. I think I might do that. Thanks for the idea Ron.

 

[djbaxter]

Ron's been in this business a long time and normally I'd defer to his wisdom.

However, I've seen a couple of other people use the countdown method you've described, successfully I think.

It's also more-or-less how amazon.com runs it's "lightning round" sales.

I think if you promote is as a special price which is progressively returning to the standard price, it might be quite effective.

 

[Ron Bechdolt]

Oh, I was just speaking as a customer. As a marketer, I have no experience in that area.

So I defer to David. ;-)