Create Urgency, Scarcity, and FOMO for Sold-out Q4 Promos

Good morning. Happy Monday, everybody. It's so good to be back. I've been gone for 2 weeks and I'm so sorry, but I have been missing y'all and I am here. So let me know in the chat. Let me know where you're watching from this morning. I've been out in Florida the last couple of weeks. The first week I was out there in Destin on a girls trip. There's 8 of us. We're all female entrepreneurs and we take the time Every August, after we get all of our kids off to school, we jump on planes. We're from all over the country and we meet at the beach and just relax after the crazy summer schedules and getting every— all of our kids back to school. So that was week one. And then last week I was out in Naples, Florida, and I was hosting my mastermind out in Naples, Florida, and we had the best time. I have 21 ladies that are in my mastermind. They're all 6 and 7-figure business owners, and, um, we meet every September, so we meet 3 times a year in person. And so, um, we met and we worked through a lot of fourth quarter. We already have that planned as a group, but we really talked through the marketing promotions. We talked through how we're going to create urgency and scarcity, and that's what I wanted to talk to you guys about today. Some of that really was inspiring to me. We had some presentations at the mastermind, and I want to tell you how a promotion I just did ended up. But that's what we're going to talk about today because, um, I think it's really important as we go into like even this month right now, we have opportunity to really make some sales. And I want to talk to you about that today. Stephanie says you look so refreshed. I have been on the beach, man. I have been on the beach for 2 weeks, um, in Destin. I think the great— was my favorite girls trip because I am friends with a lot of extroverts but y'all know me, I'm really an introvert. I know I show up on this camera, but in reality, I'm sitting in my office alone right now. So I am introverting right now. But we didn't— they didn't— those extroverts didn't plan a whole bunch of stuff. That's what they like to do. They like to plan a whole bunch of stuff, and, um, and then we're just going nonstop and we feel exhausted when we get home. But they didn't plan a bunch of stuff, so we just got to sit on the beach, read books, relax, we kind of talked business and worked through some things we've been challenged with lately. And so it was a really great trip. And then for the mastermind, I, I put together a beach day for our last day on Saturday. I rented these really cool cabanas on the beach and so we could just sit and relax and be in the sun, out of the sun, in the water and just enjoy each other. And so we had a really great time learning and then also relaxing together because here's what I know. I know when those ladies went back home, it's like pedal to the metal, like we got to go. I just feel like I just sounded like my dad right there. And that, that's really scary. When you sound like your parents, doesn't that like— it's really scary. I was like, that's totally, totally something my dad would say. But I feel like, you know, it's like it's go time right now. So I knew that we needed a little downtime. Before they got back and were just full force into all the things going on in their businesses and what's happening in fourth quarter. And so yes, I did. I went live inside Launch Your Box. If you didn't see that, I believe it was Friday. I went live and I introduced the ladies to you guys. So if you want to check out who's in the mastermind, what they do, you can see that live inside Launch Your Box from Friday. So we're going to get started. We're going to get started this morning because we have a big opportunity over the next few months. And we talked about this at the mastermind and I think it's really, really important. And so I wanted to talk to you guys about it today because we got to get on it. We've got to create, we've got to create this sense of urgency. And I see that Stacy's here. Stacy says she's a tease. And I'm going to say that in the best way possible because Stacy shared with us one of the ways that she's able to sell out like hundreds and hundreds of products when she launches them. And that's what we're going to talk about today. Stacy shared that. We also had Jane share how she sold out tons of stuff during her anniversary sale. I'm going to share today how I sold out my mystery swag bags for Labor Day just last week. But we've got to create urgency, and I don't think we do that enough in our businesses. We lob it out there. We don't want to put a time frame on it because Why? We're scared that it won't sell, and then we've said you only have till X date to buy it, right? But if we don't put that urgency on stuff, it just sits there. We're not giving anybody a reason to buy it and to buy it right now. So we've got to create that urgency, that scarcity, and that FOMO. And FOMO means fear of missing out, for anyone that doesn't know. But we've got to create that. We've got to create the hype is really what it is. We've got to create the buzz, we've got to create the hype, we've got to create the excitement for whatever we're selling. Okay, and so I'm going to walk you through my mystery bag sale that I did last week, and I literally threw this together in a few hours. I, I wasn't— I didn't know what I was going to do. I'd been at the beach, I'd been at Destin all week sitting on the beach reading a book with my girlfriends, and, um, I hadn't even thought about my Labor Day promotion, but I knew that it was an opportunity to do something, and it was an opportunity to do something with product that I just had sitting on my shelf. And so what I decided on, um, was let's do a mystery bag sale. And I just came up with 4 for $40 was going to be the mystery bag. And here's what I've learned over the years: anytime we're doing kind of a mystery box, a mystery bag, any kind of mystery sale, we need to give them some details. It will sell better if we take a little bit of the mystery out of it, but we don't want to give them all of the information. So anytime I've done a mystery type sale, I give them some details. So the details that I gave them was they were going to get 4 items in their bag and it was $40. They were going to get 1 graphic tee, they were going to get 1 apparel item, and I listed on there apparel item meant a top like this, not a graphic tee, a top, a cardigan, a kimono, a sweatshirt, a hoodie, um, something like that, that another apparel item. They were going to get an accessory, which I also listed out to be earrings, necklace, bracelet. So they were going to get a jewelry item, and then they were going to get a complete mystery item. So they didn't know what the fourth item was at all, but they knew they were going to get a graphic tee, they knew they were going to get an apparel item, and they knew they were going to get an accessory. And their fourth one was just kind of a mystery. And so when we can give that kind of information, people are more willing to buy. Any time I've done mystery boxes, I kind of outline it for them. They didn't know what tea they were going to get. They didn't know what apparel item they were going to get. They could have got something for summer or something for winter because I had all that mixed in there. They didn't know if they were going to get earrings, big, small necklace, bracelet. They didn't know and they had no idea what the mystery item was. And so I didn't know how well this was going to sell. I've never done a Labor Day mystery bag sale, but I had all this product sitting on my shelf that I really wanted to try to liquidate because I have a lot of new product coming in for fourth quarter and I need the shelf space. So I just decided, like, like the day before, I'm like, I'm gonna do this. Amber went in and set up the, um, the listing in Shopify, and then I thought, okay, I'm gonna write an email. I'll do two emails. And I'm only going to do it on Labor Day. Okay, so here's the urgency: one day only. I didn't do it all weekend long because I wasn't prepared to do it all weekend long, and I needed to get back. I was still at the beach on Friday. I needed to get back and pull product and see what I had because all of it was size specific. So I needed to get there, I needed to pull product, and I needed to see what size I had and how much of what I had so that I didn't oversell or undersell or any of that. So, um, it was one day only. I did it only for Monday on actual Labor Day. I went up, came up to the warehouse on Sunday, and I pulled product and I made 100 boxes. And so I made enough for 100 boxes. That was like probably like 20 of each size, something around there. I had about 20 of each size. I had pulled all the apparel items, laid them out by size, grabbed graphic tees, and then I had pulled like 100, um, accessories from the shelf. Okay, like this I'll just go, they'll get one of these, I'll get one of these. Then I found a mystery item. It was just bags, bags of all kinds. I did zipper bags, I did jewelry bags, I did duffel bags, bags galore. So that was the mystery item. They didn't know what that they were getting. And so I came and pulled all the things and here's what I really looked for. I have a lot of broken sizes in apparel. You have broken sizes, which means you don't have a full run of something. So like the shirt I'm wearing, if I'm missing mediums and larges, I'm sold out of mediums and larges, I have small, extra large, 2X and 3X. That's a broken size run. So I took a bunch of stuff that had broken size runs, and that's what I put into their apparel for, um, for, um, the apparel item. But I pulled all that stuff on Sunday. I was like, whoo, I got a lot of stuff here. I don't know if we're gonna have to put all this stuff back on the shelf tomorrow or if I'm actually going to sell it. Let me go live Sunday night. So I pulled all the stuff, I updated the listing, and I went live. and I just told them that we were having a mystery sale tomorrow, and if they were watching me live, they could shop now. So I had the link there, um, that they got first dibs. So now I'm creating this urgency, like, hey, I'm not going to send the email out until tomorrow, so if you're watching me live right now, you're getting first dibs on grabbing a mystery bag in your size. I'm telling you, I was live for 14 minutes and my watch was buzzing from the Shopify sales while the whole 14 minutes— boom, boom, boom, boom, boom, boom, boom. They were getting in on a secret that nobody else knew because they were watching me live. So they knew there was urgency there and they also knew there was scarcity because I only had about 20 to 25 of each size. And so they needed to grab their size while it was still in stock. So I just created some fun. I had a bag with me and I talked about the 4 items. I didn't show them anything. I said, this is what's going to be in your bag. I'm going to send out the email and go live again tomorrow. But if you're watching me live right now, you get first dibs. And so I created urgency, I created scarcity, and I created that fear, that FOMO with that. When I woke up the next morning, so this was like 8:30 on Sunday night. By 8 o'clock the next morning, I was completely sold out of 3 sizes and the other sizes were very low. And I was like, oh goodness, like this is a huge opportunity for me to sell some more stuff. And I knew I had more stuff after I went and pulled it. I was just afraid of pulling too much and then we were going to have to put it all back, right? So I went back to the warehouse Monday morning and I pulled more stuff and I added 50 more boxes and I went live again, just a quick 3-4 minute live, and I said, I'm at the warehouse. I showed them I've pulled more things, um, all the sizes are restocked. Go. I sold out of my mystery boxes, um, that evening. Um, so I sold 150 mystery boxes in less than 24 hours. And the fir— if I would have had more on there the first go-round, um, I would have sold more because it's— you, you miss a little bit of that fun frenzy urgency when you have to restock something. It doesn't ever land as much as it does the first time. So always do more than you think you're going to need because you don't want to sell out and then people are disappointed. They may not come back. And, and I didn't sell the second 50 as fast as I sold the first 100. So I had that going for me. I had the momentum going for me. I had the excitement going for me. And so in all honesty, I, I sold 150 mystery boxes. 150 times 4, each one of them had 4 things in it. I liquidated 600 pieces of stuff that had been sitting on my shelf, and some of it had been sitting for over a year. And so in, in 24 hours, I want you to think about this. I didn't announce that I was going to be live the first time at all. I just popped in. I sent out a text like I do to all of you when I'm live, but I sent out a text saying, come join me live, I've got a super secret Labor Day sale that we're going to start right now. And so that drew them to my live, and that's how I was able to sell. I got rid of 600 pieces of stuff that has just been sitting on my shelf. We've marked down some of the t-shirts. I had marked down to $10 already, but they were selling a couple here and there, but I I couldn't ever sell 150 t-shirts in a day. So it was a way for me to create urgency, scarcity, and FOMO. And that's what I want you to do with our upcoming promotions. We've got a lot of promotions coming up in Q4, and I want you to go into them treating them like a mini launch. You know, I did— this was just 24 hours, but I treated it like a launch. I did 3 lives. In 24 hours. I sent 2 emails in 24 hours, and all the posts in that 24 hours were solely around the mystery boxes. So I treated it just like a launch for 24 hours. And that's what I want you to treat any one of your launches. You've got holiday boxes coming up. If you're selling one-time holiday boxes, let me know in the chat. Just put one-time boxes in the chat for me. You need to treat that like a mini launch. You need to have emails every day. You need to have live scheduled. You need to be posting about it the whole time you're selling it. We We don't need to sell holiday boxes for 3 weeks. We need to sell them for 5 to 7 days, cut it off, create the urgency, and stop letting things be so available. Okay? We've got to treat these like mini launches. We have to create the excitement. When you're selling something for 3 weeks at a time, there's no excitement. There's no reason. There's no urgency. There's no scarcity. It's just there. It's there. And you struggle with keeping the momentum. Am I right? For 3 weeks. So we need to treat it like a mini launch. Let's do our one-time boxes for 5 to 7 days, period. This week only preorder your holiday boxes. Let's get it out there. Email them every single day. Go live several times during that event. Posts need to be all about that promo, that promo for the week. I want to tell you about Stacy because Stacy shared the way that she sold her brand new throw blankets. Recently. So if you don't know Stacy, she's in the Mastermind, Scale Your Box, Launch Your Box Mastermind. She owns Wilshire Collections. She does a lot of decorating. She has a digital subscription called the Printable Club. She also has the DC, which is the Decorating Club. She's got Pillow Cover Club, which is her pillow subscription. But she wanted to start throws. Okay, so she's like, I wanna, I created my own throw blanket. I want to sell it to my audience. And what she did, it was a buildup for 3 weeks before she actually launched. Maybe it was 2 weeks. It was 2 or 3 weeks before she launched. She's like, this is coming. She was sneak peeking some pictures. She was creating a save the date. She's building a waitlist like this is coming. And then the day she launched her throw blankets and Stacy, correct me if I'm wrong because I don't remember all the details. She sold out within hours. And hundreds and hundreds and hundreds of throw blankets. Okay, y'all, like what she's telling me, 450, 600, something like that. And she sold out. She teased it out for weeks, preparing people that these were coming. This was a big promotion. And she got people on a waitlist so that she knew they were the most interested. And bam, when it was time to launch, the urgency was there. Scarcity was there, it was a short window. And so we're training people how to shop with us. She has spent a lot of time training people how to shop with her. A lot of her audience knows that if they don't get whatever, if they don't set their alarm to shop with her when she drops something new, there's a likelihood of them not getting it. She has trained her audience on how to shop with her and she created this it's coming soon. She created these teasers, she created these sneak peeks, and bam, she sold all of those blankets in one day. And that's what we've got to get better at. We make things so available for people all the time. We don't create any urgency and scarcity around, um, our promotions. And so whether it's 150 mystery boxes or 450 throw blankets, it doesn't— or something in between, it could be 50 for you, it could be 20 for you, it doesn't matter the quantity. Me. But we— if we don't put any urgency and scarcity around our promotion, a lot of times it's going to fall flat. And I don't want that to happen over the next few months. I've got lots of things on my calendar for Q4. The first one is my holiday box. So I have a one-time holiday box. Um, Wendy, Stacy's business is called Wilshire Collections. I'm gonna— she has— she commented above and it has her name on there. I'm gonna find it real quick for you. See right here, Wilshire Collections, um, that's Stacy right there. Um, so you can go follow her, she's amazing. Um, so I've got my one-time holiday box coming up and I've got 325 of those boxes that I would like to sell in a matter of days. Then I've got my Better Than Black Friday promotion, um, which I had just over a weekend, but I'm going to extend that one day because I'm doing some big buildup for that. I've got my gift subscription sales happening on actual Black Friday. I've got, um, I've got my, uh, sorry, I just lost my train of thought. I've got my 10 Days of Frame Deals coming up in December, and then I'm gonna do some mystery boxes again in late December. So I've got these 5 promotions over the next 3 months that I am going to treat like mini launches. Okay, just like I told you just now. So I'm going to treat these like mini launches. I'm going to go live, I'm going to create urgency, I'm going to send an email every day. All my posts during that sales period are going to be about that thing. I'm not going to post different things, but I'm going to go all in on these 5 promotions so that I can make the most out of them. I— we have the ability to make 50% of our revenue for the entire year over these next 4 months, September, October, November, December. We have the ability to make what you've already made for the year, double that over these next 4 months if we do it right. So what I'm sharing with you is I want you to treat every Q4 promotion that you have set on your calendar I want you to create a mini launch with it and scale your box. We're going to talk about that this week inside, um, Scale Your Box. In our, in our call this week, we're going to talk about these promotions. I've got 7 promotions to go over with you guys that we can talk about and get on the calendar. But I want you to go all in. I want you to pull out the launch plan from the launch module inside Launch Your Box that talks about your lives, your emails, your social media posts and your ads. I want you to pull that out, print 5 of them if you need to for your 5 whatever promotions you're doing, and let's create the launch plan for each of our Q4 promotions. Because if we can go big, if we can go all in, if we can treat it like a mini launch, we're going to be more successful than just lobbing it out there and hoping it sticks. We gotta show up and we've got to do it now. We don't have any more time to waste. So let's dig in. Let's go all in and let's have the best Q4 we can. All right, you guys have a great week. I'm going to see all of you this week inside Launch Your Box and Scale Your Box. But let's go, let's go. Let's have the best fourth quarter possible. I'll see you soon.