With Fall upon us, the next few months bring plenty of opportunities to earn some money through sales. The problem is most business owners don’t plan for these sale opportunities. Then, when the time actually comes, they lose money.
What are sale opportunities?
A sale opportunity – at least as defined by me – is a time period when people are expecting sales on products.
These sale opportunities are pretty predictable because they happen around the same time every year. It’s also an easy way for business owners to make some quick revenue because people are ready to spend their money.
Here are some common sale opportunities that are coming up so you can start planning now.
Back to School
We’re in the middle of back to school season, which means you can take advantage an offer a sale. This is a particularly good opportunity if you sell online classes. For instance, I’m running a promotion on my freelance writing class the same week that school starts.
One could also think of back to school season as a second New Year. This is the time of year when people try to get back on the saddle after being lazy all summer. Again, this is an opportunity for business owners to make some money. Buyers are motivated to fix their perceived problems, so take advantage of it.
Black Friday and Cyber Monday
Last year, I ran an experiment on Black Friday. I sent a random email to my list offering deep discounts on products and classes. At the time, I thought I wasn’t going to make anything because people’s inboxes are full of promotions.
Boy, was I wrong!
Not only did I make money, I made recurring revenue by selling subscriptions to my membership site. I also made money from affiliate products, books, and digital course sales.
After the success of this experiment, I’m actually taking the time to create a plan for the current year. If I was able to see that kind of success on a whim, imagine the kind of money I can make if I actually plan for it.
Again, people are expecting sales and they already have their credit cards out. It’s your job as a business owner to know that.
As a bonus experiment, I extended my Black Friday sale through the end of the following week. By doing this, I made even more money!
The good news is the emails are already written. All I have to do is make some tweaks and schedule them out.
Last Minute Holiday Shopping
There are people out there who procrastinate on buying gifts. That’s why one of the greatest sale opportunities is during the holidays. Particularly, you’ll want to target last minute shoppers who are looking for gifts.
As a bonus, you could also target people who are looking to buy something for themselves. After buying everyone else’s stuff, people are inclined to gift themselves something.
The New Year
January comes with a litany of sale opportunities because of New Year’s Resolutions. The problem is you can’t wait until January to take advantage of them.
Instead, you need to prime your audience for your January offerings ahead of time. For example, I can offer a promotion on the next round of my group coaching program which will run early next year.
The next few months are filled with sale opportunities for business owners looking to increase revenue. They’ll be here before we know it, so make sure to start planning now.