Apply these two little things and I guarantee you’ll make at least three times as much money, with the exact same amount of effort.
On this episode, Russell talks about applying urgency and scarcity to your products can make them sell better. He also gives examples of how urgency and scarcity have helped his business that you could apply to your own business.
Here are 3 interesting things you will learn in today’s episode.
So listen below to learn how to add urgency and scarcity to your own business so that you can make a lot more money.
---Transcript---
Good morning everybody, this is Russell Brunson and welcome to Marketing In Your Car. Hey everybody, it’s a beautiful day, the sun is shining, it’s awesome outside, I’m heading in, I’ve got two days to work my last presentation before we jump on a plane and fly out to Funnel Hacking Live to hang out with most of you guys, which is going to be awesome. I’m feeling really good. Last week there was some stress, some burnout, some ups and downs and all sorts of craziness, but I wanted you to know that I feel great today and I’m excited.
I came in on Saturday, and I think we talked about that, but I put in some hours getting the printouts done, so we can print out and hand out some stuff that turned out amazing. It ended up being 300 slides, so we fit 3 slides per page, so 100 page printouts for every single one of you guys who are coming, full of all of the amazing, cool stuff we’ll be talking about and it’s going to be good. I am really looking forward to the next few days of getting stuff done and then coming down and hanging out with a bunch of you guys.
So what I wanted to talk about today, and this is something I talked about a little while ago, but it’s been on my mind and I just did 3 voxes with people in our inner circle all about this same concept, so I wanted to share with you guys as well because I think it’s important. So if you look back, there was a podcast that I did a little while ago called Urgency and Scarcity, it was probably 2 or 3 months ago. If you go to marketinginyourcar.com, you can scroll the titles, you can see the once that says Urgency and Scarcity, but I just want to talk about, reiterate what I said there, because in case you guys missed it, that was a huge deal. So I figured out something, only thing that gets people to buy, it’s not the only thing, but the main thing, is there urgency and scarcity? It is completely ridiculous.
One big thing is this event. So we’ve been promoting this event for 8 months, something crazy like that. And we could not get people for the life of me to buy at first. I was like, “Great lets cancel the event, no one’s buying, it’s totally stressing me out.” And we’re trying to get people to sign up and trying all sorts of stuff. We were calling them on the phone, 4 months from the event. They’re like, “4 months away, I haven’t event thought about this week, let alone 4 months away.” It was like pulling teeth to get people to sign up. So toward the end we get to like, 6 weeks out, and I’m like, “We got like 500 more seats we got to fill or else I’ll look like an idiot when no one shows up at the event.” Then I thought you know what we should do. We got urgency and scarcity, that’s what we got, those are our secret weapons. How do you cause urgency and scarcity without selling out? I don’t want to be like, tickets are sold out when we only sold 50. I didn’t want to be like, we’re selling tickets out this week, and then not sell them out. It’s this whole chicken and the egg thing.
So I was thinking if we did urgency and scarcity and say tickets are selling out this week, we could probably sell a bunch, but what if we don’t sell out, how are we going to sell the other 399 tickets or whatever it is. So we thought, let’s add urgency and scarcity to pieces of the offer. So we did a big push, some of you guys probably saw this, where we were giving away the recordings from last year’s event. So that was the first thing of urgency and scarcity. “Hey this week Sunday at midnight we’re pulling away the recordings of last year’s event. You can still get tickets in the future, but you lose the recordings.” So that was the first big push and we started talking about that. Guess what happened when we added a little bit of urgency and scarcity to pieces of the offer? People went nuts. That week we signed up 150 or maybe even more, I don’t know. More than 150, less than 200 somewhere in that range people signed up because we had this urgency and scarcity tied to one feature of the offer. So Sunday at midnight we pulled that off the sales page. I was too lazy and it would have been a huge pain in my butt to actually go and pull it away from people who were buying, so if you bought it afterwards, you still got the recordings from last year’s event, don’t tell anybody. But it was off the sales letter, so no longer was it part of the offer, so you lost that part of the offer. But man, pulling that thing away gave us 150 ticket sales, which at $600 a piece, that’s almost 100 grand, my math’s probably way off, but somewhere like that. So then that ended, so ticket sales stopped again.
I’m like, “You guys keep buying, we gotta sale this event now.” So I was like, “That worked last time, so how do apply urgency and scarcity to another piece of this.” So we applied urgency and scarcity to a price point. So we said, “We have 2 for 1 tickets. This is going to disappear.” So we pushed urgency and scarcity the next week on that, and guess what happened? We sold a whole bunch more tickets. And then when that ended tickets sales dropped to nothing again. I’m like, “Are you kidding me?”
Urgency and scarcity kept bringing it back, bringing it back until we actually sold out. And then the coolest thing about selling out an event, is after you sell out, that’s when people start buying tickets, because they’re like, “Wait, you sold out. Why didn’t you tell me?” I’m like, “I’ve been telling you every day for 8 months. Seriously? I’m going to strangle you.” So anyway, ticket sales were flying in like crazy when we were sold out. People are freaking out and paying more and trying to get in, and it’s been awesome. So selling out an event is almost the best way. We sold out our event when we passed 1,000 tickets sold, which is how many currently fit in the room, but if we shift seats around, we can actually get more than that, so we got some extra seats, so we’ve been selling on the back. People call, we charge more because they freaking waited forever and stressed me out, so they must pay for stressing me out.
So there’s lesson one of urgency and scarcity. Here’s another example. We were doing the Funnel Scripts Webinar, did the webinar, sold a ton on the webinar. I think we had a 40, I can’t remember the numbers, something crazy like 45% close rate on the webinar, so did well over 6 figures live on the webinar. Then the next day replays and stuff continued to sell well. It was 60 grand day two. Then 40 grand and then you know sales kept coming really consistently, really well. And so part of me is like, let’s just leave it on. And then I’m like, you know what we can’t just leave it up because then it’ll just trickle out. We need to do some urgency and scarcity. So we decided to have a cutoff date. So Sunday at midnight we cut it off. I like Sunday at midnight cut off things. Probably because I queue up the emails on Saturday before I go to bed and Monday morning I come in and look at the sales, and I’m like, “Are you kidding me?” Sunday, it’s crazy.
We add urgency and scarcity and we did as much sales on the last day as we did the first day.
It’s crazy right? So I started thinking, if urgency and scarcity is the secret to buying stuff, I’m going to start applying this everywhere. If you look at what I’m currently doing, this is my big secret for you guys, I hope you take advantage of it. So I used to have people opt-in, they’d opt-in to a list, then I would promote an offer, then I’d transition into a secondary offer and I’d be leaving content in and out and that’s how I looked at things. So instead I thought, okay if somebody opts-in to a squeeze page, there’s one core offer, one core thing that I’m trying to sell. So when they enter that squeeze page, they entered that gateway and came into my world, I now have a window where I’m doing little mini product launch. And the goal of this product launch is 2 or 3 fold; I’m trying to build the relationship with attractive characters, I’m still doing a soap opera sequence to build the relationship, but I’m doing that and pushing them towards buying a product and in that sequence, I’m applying urgency and scarcity. so basically what I’m doing is I’m sending out ten emails for 7 days when someone joins my list. You guys are thinking, Russell that’s crazy. But it’s not. Trust me.
So the first set of emails are all building relationships, pushing people to the offer, making a really good offer, and if I’m making good offers, I’m not saying, “Hey, here’s my product go buy it.” For example, somebody buys any of my offers now, let’s say you buy the Perfect Webinar Script, there’s this little mini product launch sequence that’s happening over seven days, ten emails, that is getting you to sign up for the Clickfunnels trial, and I’m not saying, “Go get the Clickfunnels trial. Hey, go get the Clickfunnels trial. Hey you should go get a free trial.” everyday, right. I’m making this mini product launch. I’m saying, “Look, you just bought Perfect Webinar Secrets so you know webinars are important, Clickfunnels is the tool we use, so for any of you guys who go and get the free Clickfunnels trial today, I have a really special offer. I’m going to give you this bonus, where you’re going to get this…” and I give them this crazy bonus worth, I don’t know $500 or $600 if they go and get the free trial from Clickfunnels. You guys see what I’m saying?
So imagine you’re doing an affiliate launch and I’m trying to get you to buy someone else product and competing against a thousand other affiliates I’m going to create a really good special offer for you to go buy this thing. This same thing I’m doing now and this autoresponder sequence, here’s the product over here, for me it’s Clickfunnels. I’m not just saying, “Go buy Clickfunnels.” I’m saying, “When you buy Clickfunnels today this is the bonus you’re going to get. I’m going to give you this two hour training I did here, you’re going to get this script right here, you’re going to get this shared funnel here, you’re going to get boom, boom, boom. Here’s 5 or 6 things you’re going to get that are amazing and can’t get anywhere else, you get today.”
Now the cool thing, by making that special bonus offer, what I am able to do is now I can have urgency and scarcity, so that you opt-in.
Build a relationship email one. Email two, I’m talking about this offer, here’s a special offer I make, here’s bonuses, bonuses, bonuses. Now because I’m not saying here’s a site to go buy a thing, now I’ve got these bonuses and now I can apply my two magic gifts. Urgency and Scarcity.
So check this out, the last two days it says, “Hey guys, you got 48 hours left to get the Clickfunnels free trial and then this free offer with special bonuses disappears.” Boom, urgency and scarcity. Next day, “Twenty four hours left before you lose out on this bonus, you’re going to lose out on this, this, and this.” Boom “Twelve hours left, you’re going to miss out on this, this, and this.” “Three hours left, you can still get Clickfunnels tomorrow, that’s cool and you should, but if you don’t get it in the next 3 hours you lose out on all these bonuses.” Now I can apply urgency and scarcity to the product I’m trying to pitch. And the thing about actually shutting it down or those annoying things we have to do as marketers, and guess what happens? People take action, people buy, people ascend. A whole bunch of amazingness happens.
So the moral of today’s story, is start thinking about that. When somebody opts-in to your list, don’t just promote the next product in your queue. Use this as a mini launch sequence. Pretending like you’re a super affiliate, making an amazing bonus offer they have to buy. Buy or die. And apply urgency and scarcity. This can work for anything by the way, you guys. Think about your affiliate, maybe you don’t have a product yet, go to Clickbank, go somewhere, find an amazing affiliate offer, create a squeeze page from that affiliate offer and have a seven day, ten email sequence. It pushes really hard urgency and scarcity, where you’re delivering some bonuses and things like that, and test it out. I guarantee you’ll make at least 3 times, and probably a heck of a lot more than that, but at least 3 times as much money than you do right now, however you’re promoting your affiliate offers.
If your own products you’re selling. I bet you’ll make 3x of how much you make in every single campaign. Because urgency and scarcity my friends, is the secret. That is the big aha I’ve had over the last few days. So hopefully this little nugget will benefit you guys. It’s amazing, try it and test it out. Let me know how it goes. And I promise you, you will make a crap ton of money. That’s what I got you guys. I’m out, have an amazing day and I will see you guys at Funnel Hacking Live. Bye everybody.