Need Cash Quick? Have a Sale!

The key, though, is to not use this strategy too often. Otherwise it can seem as though your offering isn't really worth its original price tag. But once in awhile, when sales are slow, like during the holiday season, or when you need an extra few bucks in the bank, having a sale can be just the ticket.

Here are some other pointers, with my own experience:

1. Have a reason for having your sale: a thank you to your subscribers, a holiday promotion, share some personal reason for having a sale - like you need quick cash to pay the tax man, have a birthday sale, or an anniversary of your business sale. You get the idea.

This past June, I held a summer sale of some of my most popular products as a thank you to my subscribers (that's you!). It was the first time I had put more than one product on sale at once, and the response gave me a nice chunk of cash to bring along on my summer vacation.

2. Send out more than one email about your sale. People are busy and even if they are interested in your sale, they may not remember when it ends. Make sure you send out a initial "We're having a sale" email, one a few days later as a reminder, and then one more just before the sale ends, to be the most effective.

For the summer sale, I sent the initial email about the sale to my list with a one week deadline. A few days later, I sent a reminder email, and then one more just before the sale ended on the last day. I got quite a few orders after the initial email, a handful more after the reminder, but the most after I sent the "last chance" email (see below).

3. Expect to get the most orders just before your deadline ends, and then stick to that deadline. If you let people buy after the sale ends, they won't take your deadlines seriously in the future and it just creates more work for you.

When I had my summer sale, I got the most orders just before the deadline. And I know that if I hadn't sent that "last chance" email, I would have missed out on more than 50% of my sales for this promotion.

So, what product or program that you're already offering can you hold a sale for to make some extra income? Pick at least one, choose a reason for your sale, send an email to your list about the sale, follow up with them, and watch the cash roll in!