Recently I went to a seminar and one of the speakers was a financial educator.
He was all right. A lot of stuff he talked about were concepts I already learned in my high school financial literacy class, but repeat lessons never hurt. There were also some things he talked about that I never knew like how to lower the amount of taxes you pay as a business owner.
But the thing that perked up my ears was the tactic he used to sell his programs.
Let me explain.
One of the topics he was taught us [the audience] was the importance of building credit. He then offered a book that teaches you how to build up credit. He only had five copies of the book for $20 each. Without hesitation, people pulled out $20 from their wallets and bought it. All the copies were sold in under a minute. But that wasn’t the ultimate tactic I wanted to share.
At the end of his talk, he pitched a 12 week financial literacy class for $30, which was shockingly low.
But then he said,
“If you’re interested in signing up, speak to me or my two associates. After tonight, you won’t be able to contact us.”
I’m not sure if he was serious when he said that, but that was, in my opinion, the best scarcity tactic I’ve ever seen.
Why?
He gave his audience ONLY ONE CHANCE to take advantage of his program. This forces the audience to make a decision right then and there. If procrastinators took too long to decide, they would lose out forever.
So if you need to add an urgency factor to your offers, creating scarcity is a great way to do so. But make sure you actually follow through with it.
Why? Well….
I’ll talk about that next week. This post is getting longer than I want it to be. So I’ll let you go about your day, I know you got other productive things to do.
But don’t forget to download my free e-book, “5 Steps to Create Money Generating Emails,” using the link down below.