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It works because if forces to take action. It has to be a real reason though. If you do it too often or for BS reasons it won't work
In my experience it works great cos FOMO.
Maybe give them a nice Twitter brag button? :p (Maybe that's overkill 😅)
Not sure what you mean exactly but I did once mention someone like "@mike just saved 20 bucks- be like Mike"
wes bos plays that card. works well for him.
In my experience it works to get an initial boost in sales, but I'm not sure about the long-term effects. It might burn any customers who missed out on the deal and would feel they overpay when they need to pay the regular price. I used it for a software bundle which was more of a flash sale (only available for 24 hours IIRC).
IMO it also lowers your perceived product. You're giving me a 30% discount. Why? Is the product not worth the full amount? Do you need to offer a discount in order to get sales? These considerations depend on the type of product and target customer.
A common alternative I've seen is having "beta pricing" which is lower than usual, but comes with the caveat that some things are still a work in progress. The added benefit of this approach is that you can launch earlier.
Another approach is to offer a credit. For example offer $50 in credits which will be applied to the first couple of invoices. This is essentially an extended trial, but it's more tangible ($50 in credits sounds better than 2 month trial for $25/mo service). The added benefit here is that after the credits are used, you get 100% revenue from that customer. (versus offering a percentage discount)