When Sales Deals Wreck Your Business Versus Creating More Wins
Everyone loves a good deal. Shoppers of all kinds are demanding better deals and are being even more particular about how much they are willing to pay.
At the same time, businesses are often failing even harder than ever on this front.
A good sale and discount can make your business. A bad one can prove very costly, for a long period of time. This is especially true for real estate investors, from Airbnb landlords to house flipping. Even more so if you are wholesaling real estate.
This is perhaps even more pertinent for all real estate professionals as we enter the annual sales season, from Black Friday through the end of year and after Christmas sales.
What Is A Good Versus Bad Sale Deal?
A good sale is one that provides real value to your customers. One that also catches their attention, and inspires them to take action.
More importantly, it can not only bring back valuable customers, but help win business from new ones. Not just this month, but every year. As well as creating new brand ambassadors who will spread the word to others for you, for free. It brings real ROI for you over the long run.
This is in stark contrast to poorly thought through and fake discounts that may work as a one off, but then burn the relationship, and cost you future business and value.
Sales Fails
McDonalds recently had a big sale fail of its own. The fast food chain hit the media for National Burger Day with the news of one cent or 50 cent burger deals.
Sounds great, right? Many might have thought about rushing off to try McDonalds again after a long time, or taking the whole family. It could have been a huge chance to win new and old business back.
Then came the fine print. This, like many other similar recent offers was only for select customers, those using the app, or rewards members.
That was just bound to leave a bad taste in many people’s mouths.
Instead of building trust and making people feel valued, it meant you’d have to trade countless amounts of your time forever due to spam, as well as your personal information. Much like so many failing rewards programs today. It’s more like penalizing consumers, rather than earning their loyalty by just giving them good deals they’ll want to come back for.
Then there have been marketers and sales companies spamming inboxes with 90% off sales. That’s a little too much. It seems too desperate. How valuable can it really be, if they are going to give it away that cheap? That may erode a brand’s value more than build it.
Fake sales have become another problem. Consumers have become so savvy to retailers hiking prices before big sales events, then marking them down to appear like sales. Now they’ll check out prices in advance and do their research to know if that’s really 50% off of the regular price, or if the company just doubled their prices to make it look like a 50% sale.
These extreme measures and sales can be unnecessary in some circumstances. You’ve got to know what is enough to make buyers be compelled to the point of taking immediate action. In some cases and periods that may just be 10%. At other times it may be 25% or 60% off.
Wholesale Real Estate Deals
What makes an attractive wholesale real estate deal for active investors does change over time.
No matter whether you are operating in the pit of a recession or crisis, or at the peak of confidence and values in the market, remember that while you can fool people once with a poor deal, offering a truly good deal can turn into ten deals a month, every month from a single buyer. Even better, once they know they can trust you to give them good deals, that are what you say, it becomes so much faster and easier to do transactions. In turn freeing up a lot more time, and creating a lot more profit too.
On that note, check out our 1% interest rate deal on your larger sized loans, so that you can apply this and scale your wholesaling business.
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