How to get rich this Black Friday

Summary

• Use loss leader tactics during holidays to bring customers in with an attractive deal on a well-understood product, then make profits on ancillary items with higher margins.
• For a Black Friday or holiday promotion, splinter your offer and provide a deep discount on one part of your service or product bundle to attract customers, who will likely purchase additional items or services.
• Sell gift cards as a holiday promotion, offering them at a significant discount but only for gifting to friends and family, ensuring you bring in new customers through referrals.
• Implement a high ticket, high scarcity strategy by creating an ultimate version of your service or product at a significantly higher price, limited to a small percentage of your customer base to create exclusivity and urgency.
• Use the 'buy X get Y free' strategy with a twist—offer more items free than the customer actually pays for, or offer a prepay option with significant savings to generate immediate cash flow and potentially attract new customers.
• During holiday promos, wrap your offerings in a magnetic way using the MAGIC framework: a Magnetic reason why, define the Avatar, state the Goal, specify the Interval, and utilize a Container word to bundle the offer attractively.

Video

How To Take Action

I would suggest implementing the loss leader strategy during holidays by picking a well-known product to sell at a loss to attract customers. Then, make profits on other items with higher margins that customers might buy once they're in the door.

A good way of doing holiday promotions is to splinter your service or product bundle. Offer a huge discount on one part to bring customers in, with the hope that they will buy more.

I think selling gift cards at a discount for use as gifts is smart. This can bring new customers through referrals, as you’re basically getting paid to gain new clients.

You should consider a high ticket, high scarcity offer. Create an exclusive and pricy version of your services for a small part of your client base, to generate urgency and boost sales.

Let's use the 'buy X get Y free' strategy with a twist: give away more free items than the customer pays for. Or try a prepay option with big savings to get immediate cash flow and attract new customers.

When you're wrapping up these offers, always use the MAGIC framework. Give it a Magnetic reason – holidays, pick the right Avatar – like busy moms, define the Goal – relaxation, set the Interval – 30 days, and use a Container word – getaway, to bundle it attractively. This makes your offer stand out and gets people excited about your holiday specials.

Quotes

"most businesses make more money in the last month of the year than they do any other month"

• Alex Hormozi*

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"you sell a very well understood product and you sell it for less than the market understands the prices for"

• Alex Hormozi*

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"if people are buying during that month then that's when you want to be selling even more"

• Alex Hormozi*

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"gift cards are one of the most lucrative things that you can sell in general"

• Alex Hormozi*

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"this works especially well with Services which is what I'm focusing on"

• Alex Hormozi*