How to Sell Money at a Discount
One reason for Groupon’s meteoric success (and the success of similar mob coupon services) is because they’re selling money at a discount.
If I offered to give you $20 if you gave me $10, you’d take that offer as many times as you possibly could.
That is the basic premise for many of the offers made through Groupon, Living Social, etc.
Client and friend Dave Andrews (the creator of an excellent how to quit drinking program) tipped me off to one such promotion where Living Social offered a $20 Amazon gift certificate for $10.
By the end of the 1-day promotion, 1.3 million gift certificates had been sold. At a cost of $10 each, that’s a little more than $13 million collected in 24 hours.
With just one email.
There was no complicated product launch process involved. No pre-notification list. No anticipation.
Just a simple offer delivered by email with a short deadline.
Want to goose your sales?
Figure out a way to sell money at a discount.
-Ryan M. Healy
