What is a Limited-Time Offer?<\/h2>\n\n\n\n
Let\u2019s say you\u2019re in the market to buy a new computer. You\u2019re standing at Best Buy in front of a model that has every feature you want, and it\u2019s offering a free set of blue tooth headphones with purchase. The store is about to close, so you decide to think about it and come back tomorrow. There\u2019s plenty in stock. Then the salesperson says, \u201cThat offer is only good for five more minutes. The special ends tonight. If you don\u2019t act now you won\u2019t get the free gift.\u201d<\/p>\n\n\n\n
What do you do? Buy now and save a few hundred dollars on the headphones you\u2019ve also been eyeing, or keep looking? Chances are good the limited time promotion would swing you from prospect to buyer in a hurry. It\u2019s the computer you want, you\u2019ve verified it\u2019s an exceptional deal, why not end the search and take it home with you tonight?<\/p>\n\n\n\n
Like most people, you\u2019ll probably make the purchase and be pleased with yourself for boldly making a decision and going home with a free gift. But that\u2019s only partially true. Best Buy nudged you toward a decision by instilling a sense of urgency with their limited time offer. <\/p>\n\n\n\n
A limited time offer<\/strong> is a time-bound promotional deal. It\u2019s an offer with a clear end date and\/or time when it becomes unavailable. They usually take the form of sales, discount codes, free gifts, exclusive products, or anything else that is only available for a specific period of time. These are simple, but powerful tools to turn undecided buyers into customers<\/a>. <\/p>\n\n\n\n Here are some examples of limited time offer messaging:<\/p>\n\n\n\n Limited time offers rely on the principle of scarcity marketing<\/a>. This concept was coined by Dr. Robert Cialdini<\/a>. It\u2019s based on the concept of supply and demand. It states that as a product or service becomes more difficult to obtain, the more valuable it becomes to potential buyers. Scarcity stretches both ends of the formula by exhibiting a limited supply while simultaneously cultivating demand.<\/p>\n\n\n\n Basically, when something is limited, our brains tell us to get it now before we miss out. Any time you experience the fear of missing out<\/a> (FOMO) and have the urge to purchase something while supplies last, you\u2019re feeling the pull of scarcity marketing.<\/p>\n\n\n\n (Quick note: Scarcity also applies to limited supply<\/em> offers, but that\u2019s a subject for another article.)<\/p>\n\n\n\n Before we talk about making your own limited time deals, let\u2019s look at some effective ones. <\/p>\n\n\n\n To get a better feel for how well limited time offers work, consider one of the best examples: Black Friday. It\u2019s the perfect opportunity for limited time offers because the event is only one day. If customers want the discount, they\u2019d better be ready to jump in there and shop. <\/p>\n\n\n\n The concept worked so well, marketers came up with another limited time deal extravaganza: Cyber Monday. Together, those days kick off the month-long shopping sprint that traditionally brings in about a third of annual retail sales. And it\u2019s all based on limited time: December 26th is too late. The presents have all been opened.<\/p>\n\n\n\n Typically a good Black Friday deal couples a powerful promotion with a clear time limit. You probably see a lot of these around the holidays. Attention-grabbing colors and countdown timers can further stimulates urgency<\/a>. <\/p>\n\n\n\n Here\u2019s an example. In this ad, the copy \u201cThis is as cheap as we\u2019ll ever go\u201d makes a customer\u2019s inner voice sound with, \u201cI\u2019ll never save more money than this!\u201d <\/p>\n\n\n\n The following ad uses the phrase \u201climited time,\u201d but does not supply a timeframe. This can work in some cases. By being vague with the timeline, the customer may feel extra pressured to buy now because they don\u2019t know when it ends. But you have to be careful, because if the time isn\u2019t authentic, most customers can see right through it and you lose credibility.<\/p>\n\n\n\n What stands out about this example, is the free gift with purchase. Rather than discounting, and devaluing their product, the brand adds value to a shopper\u2019s purchase.<\/p>\n\n\n\n The ecommerce marketplace, Etsy, heavily relies on scarcity marketing to sell products. A message like \u201cOnly 1 available, and it\u2019s in X number of people\u2019s carts\u201d creates a sense of urgency that would motivate new customers to buy.<\/p>\n\n\n\n Some offers come with their own natural time limits. Take this ad for instance. If you want the product for Christmas, you need to order by certain dates. These are powerful because they are organic. The time limit never feels forced or artificial. <\/p>\n\n\n\n If the limited time offer concept sounds simple, that\u2019s because it is. Smart marketers present the tactic in a host of ways, though. Let\u2019s go over some best practices to get you started.<\/p>\n\n\n\n When it comes to copywriting, it’s important to use limited time language, such as \u201cone day sale,\u201d \u201csale ends at midnight,\u201d or \u201ctwo days only.\u201d Here are some other variations:<\/p>\n\n\n\n Be very specific here. Don\u2019t assume your audience will understand that \u201cMemorial Day Sale\u201d means only<\/em> Memorial Day. Spell it out for them with something like, \u201cMemorial One-Day Sale.\u201d<\/p>\n\n\n\n Timing refers to the nature of your offer. Your offer should be short enough to make people fear missing it, but not so short that they can\u2019t reasonably make a purchase in time. For instance, a one-day flash sale is fine, but a one-hour sale won\u2019t get much attention. Your audience needs a little bit of warning. <\/p>\n\n\n\n It also helps to set a definite time for your shoppers so they know exactly<\/em> when the deal runs out. If you just say, \u201cSale ends today,\u201d people might wonder what that means precisely. End of the workday? Midnight? Which time zone?<\/p>\n\n\n\n Louis Vuitton accounts for this by including specific details (down to the hour) about the limited free shipping they were offering for Father\u2019s Day. This is a non-intrusive way to advertise a discount without being obnoxious and scaring off customers.<\/p>\n\n\n\n Furthermore, a limited time offer doesn\u2019t mean you have to spring it on your audience at the last minute. Your customers know you\u2019ll offer something<\/em> for Black Friday, so build anticipation by telling them early and often.<\/p>\n\n\n\n In fact, when the window is too tight,<\/em> people actually rebel against the limited time deal. Researchers at the University of East Anglia ran experiments<\/a> to see what leads people to accept or reject such offers. Time-based offers were accepted more often when the study participants had 12 seconds to decide as opposed to four seconds. <\/p>\n\n\n\n Basically, if you push people to make a decision right this instant,<\/em> they will reject the premise. But if you give them just a little bit of time to think, they are more likely to take the deal. <\/p>\n\n\n\n Ideally, you want to tell as many people as possible, but you definitely want to tell your audience. This involves sending multiple email messages, posting on social media, implementing retargeting campaigns, spreading the news to your influencers, and any other marketing channel you have access to.<\/p>\n\n\n\n\n
Examples of Limited Time Offers That Drive Conversions<\/h2>\n\n\n\n
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1. Use limited time copy<\/h3>\n\n\n\n
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2. Use proper timing<\/h3>\n\n\n\n
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<\/figure>\n\n\n\n3. Promote your ad everywhere<\/h3>\n\n\n\n
4. Get creative with your offers<\/h3>\n\n\n\n
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