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Stephanie
Hello there CNC listeners. Welcome to the podcast. This is episode number 110 and it's called Black Friday Energy versus Black Friday Deals. Before we get into it, this episode is brought to you by my very popular annual training called Year on the Wall. It is back and I am so excited to bring you what is definitely my most popular, most successful training of all time. You can go to yearonthewall.com to read all about it, but Year on the Wall is my system that I personally use, developed for myself and have taught to over 1600 clients since I started it back in 2017, 2018. And what we do is we take these giant calendar pages and we pick up four different color coded sticky notes and we help you figure out your goals, your money that you're going to need in order to make your goals happen and to have your dream life. The plans down to the week in terms of what you are going to be doing. And we're going to put it all on your wall in a way that creates so much clarity. I'm really focused on attainability and like bite size pieces. This year we're also going to be talking about how to have a monthly focus on habits in three key areas of your life. I am so excited to host this training. It truly gets better every year, so if you've come before, make sure you sign up again. If you're brand new to the system, you are going to love it. Just go to yearonthewall.com I'm teaching it live on Friday, December 6th at 11:00am Eastern Time. But even if you can't be there live, you will receive the replay and all of the materials to take this training on your own time. Heck, take it as many times as you want in the year to come. So let's get ready to have the best year yet in 2025. I cannot wait to see you at the training. All right, let's get into Black Friday Deals versus Black Friday Energy. I'm so excited to talk about this because of course right now it is actually one week from Thanksgiving as I record this and of course in both of my coaching programs, same day sales, which is my foundational coaching program and then my mastermind sold out group programs. I've coached both groups of clients this week and on both of those calls we've talked about Black Friday. And of course that makes perfect sense. We have Black Friday coming up. And what I notice is, interestingly I feel like my clients and perhaps you too, dear listener, are experiencing a cocktail of emotions around Black Friday. I think in some ways there's some excitement. We're like, oh, my gosh, there's going to be, like a flurry of buying behavior. So that creates the feeling of excitement. There's, like, an opportunity there, but certainly there's a very present undertone. Maybe it's even more overt than that of, like, this pressure to participate. Maybe you're feeling that where you're like, oh, I see other people doing Black Friday. I see every company on God's green earth doing Black Friday. Should I get in on the party? Should I be doing something for Black Friday? There's a bit of FOMO mixed in there, and I think it can create a lot of pressure for service providers, coaches, creators, et cetera. And so I really wanted to dig into, you know, you might be asking yourself, like, should I be participating in this? You might even have plans to participate, which is totally fine. But I'm going to offer you some things to think about regardless of where you are on the Black Friday spectrum right now. And so we're going to talk in particular about why Black Friday energy is more effective and I think more important than focusing on Black Friday deals.
Co-host
Okay?
Stephanie
So as we dive into this, let's talk about why Black Friday matters. Like, what is the case for participating in Black Friday? Because I want to be clear, I'm not here to, like, completely discredit Black Friday. I mean, spoiler. I'm going to give you a different. I mean, maybe you could tell from the title, right? I'm not really going to tell you to participate in creating a deal for Black Friday. I do not think it's appropriate if you are a coach or even, honestly, even if you're a course creator, that would be, like, the closest that I would could see, maybe a Black Friday deal working for you. Digital product creators, maybe. But if you're a service provider or a coach, it's a big hell to the. To the no for me.
Co-host
Okay?
Stephanie
I've never participated in Black Friday. I'm not going to say I never will. But I do take advantage of Black Friday energy every single year, and that's a huge benefit. So I'm going to share the difference between the two and how you can get creative and do the same thing. So why does Black Friday even matter? I do think it's worth acknowledging that people are mentally in buying mode during this time.
Audience
Right.
Stephanie
At least to some degree. And of course, we need to look at economic considerations. We could certainly say that of all of the years that we've ever seen you know, do I think this is the most buying mode year? No, I don't. I think that people are probably being a little bit more conservative with their money, and maybe not even. That's not even the right word. I would say discerning. I think discerning is a more accurate way of describing it. I want to make that really, really clear. I do not observe that people are not spending money. I just think. I think people are fine with spending money, but I think they want to be really, really sure that if they are spending money, they're spending it properly. There's, like, a little bit more certain, maybe even a lot more pragmatic mentality, sort of logical, like, if I'm going to spend, I need to be sure that type of energy. Okay, so people are in buying mode on Black Friday, Cyber Monday, we might be thinking about Christmas, holidays, gifts. It, you know, all of us know that we should keep our eyes out if there's, like, things that we've had, you know, in mind, like, even bigger purchases, like, I don't know, vehicles or furniture. A lot of us are trained to keep an eye on Black Friday.
Audience
Right.
Stephanie
So when you have buyers in buying mode, prospects in buying mode, let's look at the sales psychology of that. It's easier to sell, of course, to ready buyers than to those who you need to persuade. So to give you an example, if you were to walk into Target or pick your store and you have the mentality, I am not opening my wallet today. Like, nope, I'm here to browse. I'm not buying anything. Yes, it's possible that especially I use Target on purpose in this example, because we all know that Target does what Target does. And sometimes you go into Target thinking you're going to. You know, I would actually say it's more accurate to say you go into Target thinking you're going to get one thing, and then you walk out, like, spending $200. That's a reason. This is a joke in a meme that's very popular, very relatable. But even think about that. Even having the mentality, oh, I just need a couple of things. That is you saying, I'm going to be spending some money in this store. And if you're already spending 15, 20, $25, it is easier to put the candle in your basket, to put the throw pillow in your basket, to put the sweatshirt in your basket, versus having the mentality of, like, nope, like, I am purely looking. Wallet's not coming out. I don't need anything. It's not that that can't happen and that a conversion can't happen if the deal is good enough, if the item is attractive enough, et cetera. But it's you as you can totally relate to. I am sure it's a very different buyer mentality. And so if you think about it, we are kind of going into this period where people are like the shopper at Target who just needs three things, right? They're like, I'm going to buy this, this, and this. But, like, then I'm done, okay? They have the wallet out. And it may be that it's a little easier for people to stomach watching the money leave their account because they kind of figured that that was going to be the case. And so the opportunity that we have with Black Friday is positioning your offer in front of a primed audience. Let me say that again because that's what I want you focusing on, positioning your offer in front of a primed audience. Okay? Now this is really important, arguably the most important part of this podcast. So listen up.
Co-host
Okay?
Stephanie
Where Black Friday deals go wrong. Here's what I'm seeing. I see a lot of common pitfalls with my coaches and service providers in particular. This is for everybody, but mostly for you all. This is where I see it going wrong. So in no particular order here, I see folks trying to discount their premium services. I'm not a fan and I'm not a fan for multiple reasons, not least of which is it's just not that effective. I've seen client after client cut the prices of their, let's call it 3000, 5000 or more coaching package, and they cut it down even, 50% limited time, Black Friday, 50% off my coaching package. And then they're like, oh, my God, nobody bought it. Like, I'm so surprised. What is going on? Okay, so it's not. We'll. We'll get to what's going on in just a moment. But on top of that, it under. On top of, like, not being that effective, it undermines the perceived value of your coaching or group programs.
Co-host
Okay?
Stephanie
So if people see that you are slicing and dicing your prices, it's just not the best look for more premium services.
Co-host
Okay?
Stephanie
It doesn't really give off the vibe that this is, you know, as transformational as it truly is. We don't want your coaching business looking like the Discount Depot, Right? We don't want to cheapen. You know, a lot of times my coaches and my service providers are already underpricing themselves typically. And so to then, like, discount it further in A lot of cases it actually has the inverse effect that you think it does.
Co-host
Okay.
Stephanie
We don't want to make it look like nobody wants this and it's not working and you're desperate, et cetera. So discounting premium services is a big no for me.
Audience
Right.
Stephanie
We'll get more into that momentarily. And then the other pitfall I see is creating low ticket offers a lot of times from scratch in your otherwise pretty premium priced business.
Co-host
Okay.
Stephanie
So sometimes, to give you an example, I'll see clients who are, you know, again, throughout the whole year offering coaching packages, whether it's one on one group coaching. We could also talk about service providers, you know, whether you're providing website design, et cetera. And I see folks try to come up with a low price point offer. So here's a classic example. You have a group program, and in that group program there's a curriculum. And obviously the curriculum is just one piece of your overall group program. And maybe your group program is a thousand dollars, $2,000, $5,000 in that range. Right? And you think to yourself, well, I want to participate in Black Friday. Maybe I could just like scoop up the people who want to work with me, but they're not able to because of the price. And again, I think this thought makes a lot of sense. But then what I see people do is pull out the curriculum, start pulling apart their, you know, pre recorded material, for example, worksheets, et cetera, and trying to just sell that piece for 47, 97, 197, 297 something in that range.
Audience
Right.
Stephanie
And here are the problems with that approach. There are quite a few. The first one is this is very sneaky because it kind of sounds straightforward.
Audience
Right.
Stephanie
It's like, well, that makes sense. Like there's people out there who want my education, they don't want to pay for the coaching. They keep telling me this is what makes it the trickiest is I know y'all are hearing from people, oh, it's just too expensive. I'd love to work with you, but it's just too expensive. So you have the thought, well, let me see if I can come up with something that would be more palatable for the people who are telling me that they'd work with me if it were cheaper. And I know that's what they're telling you. And it honestly, it's probably even what they're thinking. I'm not trying to say that they're being deceptive, although they may be being polite. Okay, but whether or not those folks are aware of it when they tell you there is more going on than the price. And we prove this true. Every time when I see my clients do this, and then they come to me in coaching and they're like, it didn't sell or it sold really poorly or it just didn't work.
Co-host
Okay?
Stephanie
So first problem with this idea is it's always more work than you expect. I know it sounds simple, and I've made this mistake too. So that's how I know is like, oh, yeah, I'll just like, this stuff already exists. It's already recorded. I already made it. I already made the template, I already made the program. I already made the teaching. Let me just. That's the key words. Let me just. Okay, let me stop you before you. Let me just.
Co-host
Okay.
Stephanie
Because what ends up happening is creating, promoting, and selling even a low price point product requires time and effort. You will be amazed. I would argue, listen, I've sold. I've made over six figures with a digital course.
Co-host
Okay?
Stephanie
And digital, low price point digital products as well. It is so much more time and effort, arguably more time and effort, just in a different way then getting on consult calls and closing higher ticket offers. Okay, I know that that may feel surprising, but it's totally true. This can be like a sinkhole. Low price point digital products can truly be a sinkhole of your time and effort. And listen, if you're somebody who's listening to this and you're like, I have a successful thing, I'm not saying you can't be successful with it. Like I said, I've done it myself. I'm just saying for. Especially for my clients, this is big. I didn't mention this part for those of you who are trying to create a cash injection, because that is oftentimes the biggest motivator for people. If you want to put something together for giggles, for fun, do it. That, like, feel free, right? If it sounds fun to you and it's just like an experiment, you don't really need the money, fine. But for those of you who are like, ooh, I'm 5,000 short for the year, 10,000 short, 15,000 short. I'm seeing this a lot in my clients. This is not the road I would have you take. And one of the reasons why there are more, but one of the reasons why is because it's just not the highest leverage thing that you could be doing to make up the financial gap.
Audience
All right?
Stephanie
Also, that leads us kind of into the next piece here, which is when you go to do this. And if it Works, that's great. But a lot of times it doesn't. And I think there's a lot of reasons why. But we can get into those as we go on here. But when it doesn't work, you may be deflated by the results. Okay, So I see this where clients will be like, I think that the thought is like, oh, people said they wanted something cheaper. This will be a no brainer.
Co-host
Okay.
Stephanie
And then you put it out there. And when it's not a no brainer, I see folks go into a spiral about this because they're like, now I didn't hit my goal and like, oh my gosh, if I can't sell something for 97, how am I possibly going to sell something? Burke? 997 or 9997.
Audience
Right.
Stephanie
And so that leads to self doubt. That leads to more doubt about the value of your program. And that's a thought error, by the way.
Co-host
Okay.
Stephanie
Because that's not really what's happening when people aren't buying it. It's much more about people not really understanding the transformation or honestly, even more accurately, not believing that your $97 thing is going to get them the big transformation. They're like, I'd rather hold off and invest properly. This is what I mean by discerning. They're like, I'd rather hold off and invest properly in the program that I know is actually going to get me the result. I honestly think people are kind of tired of throwing away 47 here. 97 here. It's the Tamu TikTok TikTok shop. Like most of us have been kind of burned by buying the dupes. I think we're going to see the end of dupe culture or at least like the decline of dupe culture where people have bought something that looks good on paper and it lasts for like two loads in the washing machine.
Audience
Right?
Stephanie
And they're like, I should have just bought the good thing or I should have just bought the quality thing or I should have just done it right the first time.
Co-host
Okay.
Stephanie
And so think about how that translates to you sort of trying to sell something that's like, if you think about it, it's kind of like the dupe of your coaching program. And I think that's why we're seeing this not be as effective. We totally were seeing more impulse by two, three spur, certainly four years ago, but it's just not what people are looking to do right now for the most part. Again, always exceptions. Um, but I'm seeing this even with Things that were easier to sell. Like, for me, with selling year on the wall right now, I would certainly say that I. I saw many more like quick, fast, easy sales in years past than I'm seeing this year. And again, it doesn't mean people aren't spending money. I've had the highest revenue year of my entire business this year, my friends. But the tactics that were. I've been saying this a lot in coaching, too. The tactics that worked two, three, four years ago. I've had a lot of clients come to me being like, this used to work. Or I did this before and it worked. And it's like, yeah, totally. And this is not that. What you have to do, though, is stay out of the despair of like, oh, my God, this used to work and now it's not working. So, like, everything's doomed. That is where I'd stop you and say, totally not the case. We're just seeing an evolution and a different behavior that we need to adapt to.
Co-host
Okay.
Stephanie
The other problem I have with this approach, this sort of like, cut it up and mark it down and sell something that's cheap and quote, unquote easy, is. It is a focused distraction.
Co-host
Okay?
Stephanie
It is time and energy that you are now diverting from taking that same time and energy and just doubling and tripling down on selling your higher ticket offering. So I've had clients come to me this. Actually, I'm thinking about last year where I had multiple clients who really wanted to do like, you know, a $97 something. And of course, like, I coached them in the direction because I've always had this belief, this is not new for me. Like I said, I've never done a Black Friday deal for this reason. And I, you know, have coached clients in the direction of, hey, just stay the course with your higher ticket offer. And they may say to me, okay, yeah, but I really want to do this. And I'm like, okay, great. I'm never going to tell you, you know, I've been wrong and I love being wrong, right? Like, you might strike gold with an idea, so go for it. And I've had clients come back and be like, oh, man. Like, I just wish I hadn't done that. Like, I wish I had listened or, why didn't you? I've even had clients be like, why didn't you tell me not to do that?
Audience
Right?
Stephanie
And it's like, I do think sometimes we have to go through that learning lesson to realize, like, it is painful to look back and be like, oh, all that time and energy that I spent on that thing that wasn't even that helpful. I could have just been staying the course with selling my higher ticket thing. Could have just stayed the course, right? So finally, the big problem I have with this is even if it works, let's say it works. Okay, best case scenario, let's say like I'm wrong and you strike gold, you find an idea that does take off that people really want, and I'm wrong about like it not being a money thing. People are like, yes, finally, I've been waiting to buy something lower price from you. Let's say that it works. Even if it does work in the best case scenario, looking at the math is where it still gets tricky. So let's say that you sell over 100 of something, you sell a hundred low ticket sales. If you compare that to even just a couple of premium clients, the math typically is not going to math on that. Right? And again, I'm talking specifically to those of you who have the business model of more premium offers. If you're trying to run a digital product business, you're trying to run a high volume business. You're already in the high volume game. So like, do you know, do your thing. Okay, but for my folks who are in like the rest of the year, you are focused on lower volume, higher price offers. Really look at this and be like, even in the best case scenario, how does 47 widget like, or sorry, 100 widgets at $47 compared to even 2, 3, 5, 1 on one clients or website design clients or whatever it is that you're doing. So if you think about it, it's low ROI on time and energy and dollars. And so you have to ask the question, does it justify the effort? And I would argue based on what I've seen across many clients, 9 out of 10 times, it just doesn't, it just, it just can't be justified. There's. Your time is just better spent elsewhere. Okay, but where's the good news? Okay, because remember, this podcast is not called F Black Friday. This podcast is called Black Friday Friday Energy versus Black Friday deals. And so I just talked to you about Black Friday deals. Let's talk about Black Friday Energy. Black Friday Energy is harnessing the mindset of buyers in spending mode without having to create a deal.
Co-host
Okay?
Stephanie
So what we're gonna think about here is positioning yourself properly in a compelling way in front of people who are already primed to make a purchase. You can still harness the energy, the buying energy, the buying spirit that we also could think about like Depending on your industry, the changing of the guard of like, you know, from. I'm thinking of myself in particular, business coach. But there's other, certainly other industries that can take advantage of, hey, 2025 is coming, the excitement of a new year coming. I'm thinking about my weight loss coaches. I'm thinking about even, um, you know, coaches for moms, different people. Like, even career. I'm thinking of career coaches. You can really think about how the changing of the guard of the new year might be part of that energy as well. And so how do we do this? How do you leverage it without a discount or without cutting up your program and trying to cut people a deal?
Audience
Right.
Stephanie
So I would say a few things. One is focus on those premium offers. It might be boring. I've been saying that to my clients a lot this week where I'm like, are you just wanting to do the Black Friday deal because it's another shiny object. And you know, I tell my clients all the time we have a, some somewhat of a boring process for building your sold out business. Whether you're selling out your services, selling out your coaching one on one, or selling out your group programs, it can be kind of a boring process. We're going to get people on our consult calls, we're going to close them and we're going to book out. Okay. There's only so many ways to do it. It's effective, but it can be boring. And so you have to ask yourself, like, is my brain just kind of bored right now? That is sometimes what I see going on for people where it's like, hey, just stay the course. So stick to your core coaching services or group programs. But you can certain. There's, I want to be clear. There's certainly ways to get creative right now. Are there certain workshops that you can do that can help you position your services, your coaching, whatever it is that you're selling in a compelling way that is relevant to the urgency of the moment, whether that's the holidays, New year, et cetera.
Co-host
Okay.
Stephanie
So doubling down on what you truly want to sell and staying with your longer term goals of becoming booked out versus giving into kind of the short term urge of like, maybe I could get lucky with Black Friday.
Co-host
Okay.
Stephanie
Having the courage to stay the course. So we can also think about, you know, crafting compelling and time sensitive offers so you can still use urgency without discounting. So you can think about limiting your spots. Right. So if you're a coach or a service provider, you only have so many spots. That's always the case. We can talk about, you know, that piece as urgency. We can also think about the urgency of the moment. So, you know, what is happening in your client's world right now that is creating urgency. So one of my clients I'm thinking of right now is a life coach for moms, and she has been talking to her audience about how moms can take care of themselves during the craziest time of year. For moms. And for those of us speaking for us moms for a moment, um, we are so busy making the magic that we can forget and lose sight of what actually matters, which is like making memories with our kiddos and like, you know, being led by our family values, slipping into comparison, et cetera. So that is an example of what I like to think of as external urgency. It's the urgency of the moment. It's the don't go into January looking back on your Christmas with your kids, you know, the holidays with your kids and being like, what just happened? Like, can I get a do over? Okay. Priceless. Priceless. To be able to experience the kind of holiday that you actually want to experience is a really great example of external urgency. Another example is my year on the wall training.
Audience
Right.
Stephanie
This is. I. I need to be talking to my prospects about why right now, November 21st, or when we do the training on December 6th, why that is the best time to be planning 2025.
Co-host
Okay.
Stephanie
So you can be thinking about why this moment is the best time and even to take it a step further, why it should be like non negotiable in terms of why they can't afford to wait to work with you.
Co-host
Okay.
Stephanie
You have to be thinking about that. You can also be thinking about bonuses for signing up during Black Friday. I love a good bonus. I've been talking to my clients a lot about, like, what is the juiciest, most compelling bonus that you could give to somebody to take advantage of Black Friday energy? I've been thinking about this a lot as well, because I'm going to be having, you know, the way that I take advantage of Black Friday energy is you're on the wall, as I already mentioned, But I'm also going to be opening up spots inside of same day sales. And I'm thinking about, like, what's the, what is the most juicy bonus that I've ever offered for same day sales and how could I give that to the people that sign up to work with me? So it's a little bit outside of Black Friday, but it still kind of fits, right? It's still kind of in, like, the gift buying time window. And so the last thing I want to say is, and that kind of ties into all of this is, you know, as always, leveraging storytelling and testimonials. So this, guys, this doesn't change. This is. This is what I think really important for us to recognize is whenever it is, whether it's Black Friday or Groundhog Day, it doesn't matter. You cannot get around having to do the work of showing how your premium services deliver results, okay. And emphasizing value over price. This is why I have clients come to me and say, steph, I cut my coaching down by 50% and people still didn't buy it, even though they told me it was the money, right? And it's like, of course it's because the value is still not coming clear. It's because the results are still not sinking in for people, right? We've missed something in the sales process in terms of helping them see why. If you think about it, that money that's in their pocket, the 2,000, 3,000, 4,000, 10,000, whatever it is right now, the utility, the perceived utility or the perceived value of them keeping that cash in their pocket is higher than parting with that money. The exchange isn't feeling worth it. If we think about the scales of their exchange, what they're getting when they part with that money is what. Well is that transformation. We have to do the work of that transformation, feeling like it has more weight, more value, and more utility than the dollars that are in their pocket. And that's it.
Audience
Right?
Stephanie
That's why if you cut your coaching down 50% and people still aren't buying it, that's exactly why. Because those dollars in their pocket are still having more weight. I'm like, literally pitching, like, think about the scales of justice, right? And was thinking about, like, having the. The dollars on one side and your transformation, your results, your value on the other side. They're not seeing that value as tipping the scales. And please hear me loud and clear, because this is another place where clients tend to go wrong, is they're like, my stuff isn't valuable. People don't want it. It's not good enough. Let me add everything in the kitchen sink. That is rarely how I coach my clients, actually. It's typically that we just aren't. Have not conveyed it properly. We've not really shown them what is possible for them. And another big thing in 2025, my friends, 2024 into 2025, is customizing that conversation. So it's not just broad Value. It's not just like, this is amazing for everybody, but specifically, how is it going to impact their underwater basket weaving special snowflake life?
Co-host
Okay.
Stephanie
Those who are winning right now are helping clients walk across that bridge of understanding how the value is going to impact their own individual life. So it's the same conversation. I think that that's one thing that's happening with Black Friday Deals, and I totally get it. As a business owner, you're like looking for the unicorn. You're kind of looking for the white knight that's going to come in and rescue you from the difficulty, from the challenge, from frankly, the boring monotony of selling your services. And I got to tell you, that for nine out of 10 people, Black Friday deals ain't it.
Co-host
Okay?
Stephanie
However, Black Friday Energy, I love that for you. So I hope this has been helpful. As you think about keeping your business focused on your core revenue drivers. Think about what you need for the rest of the year. Maybe you're good, okay? If you're good, you're good, that's great. But if you have a revenue gap and you're like, I'd like to make 10k more, I'd like to make 15k more, whatever the case is, then I want you focusing on the core revenue drivers. You know what they are. And if you don't, you got to get a coach.
Co-host
Okay?
Stephanie
I hear there's a good one that you can work with. Come to year on the wall and we'll talk more about that.
Audience
Right?
Stephanie
And then also focusing on maintaining the integrity of your pricing and your brand value. Doubling down on that, tripling down on that instead of walking it back and negotiating it, and finally thinking about seizing the opportunity at hand, seizing the power of buyer energy without creating unnecessary distractions, without looking back in January being like, why did I do that? Okay, so my friends, I really hope that this was helpful. I want you to decide right now. How will you be participating in Black Friday? How will you be harnessing Black Friday energy? You can be asking yourself, what service? What is my, like, ride or die service or program that I want to focus on? How can I add urgency? How can I create bonuses to make it irresistible? And as you're planning your messaging, you can create content and create sales messages to position your offer for Black Friday Energy, also known as bfe. Okay, so in closing, I want you to just think about Black Friday Energy being the more sustainable and effective way versus scrambling to create low ticket deals or discounts. I want you to stay focused on what truly moves the needle in your business. And I want to invite you to come join me in Year on the Wall to set the tone for next year. So you're really clear. I mean, for me, I did my Year on the Wall earlier this week, and I know exactly what I'm doing next year. I know exactly how many clients I need in my two programs, and I am so excited to get to work. I want that for you. I want that clarity. I want that bite size attainability. So head to yearonthewall.com mark your calendar for December 6th. Join me live if you can. But even if you can't do it at your own pace, you have forever access to the replay. You can go through the training as many times as you want. A lot of my clients like to do a Year on the Wall refresh in the summertime. So you could do that. You just buy the ticket once you've got it for the whole year and you've got it forever, actually. Um, and so it's an amazing way to move forward into 2025, knowing exactly what you are doing next. Okay, my friend, I hope this has been helpful. I'll see you next time. And until then, I'm wishing you the courage and the clarity to go after what you love.
Podcast Summary: Courage & Clarity - Episode 110: Black Friday Energy vs. Black Friday Deals
Host: Steph Crowder
Release Date: November 21, 2024
In Episode 110 of Courage & Clarity, host Steph Crowder delves into the contrasting dynamics of "Black Friday Energy" versus "Black Friday Deals." Released a week before Thanksgiving, this episode addresses the complex emotions and strategic decisions entrepreneurs face during the Black Friday season. Crowder leverages her extensive experience coaching female entrepreneurs to provide actionable insights on harnessing consumer behavior without compromising brand value.
Steph begins by acknowledging the widespread anticipation surrounding Black Friday, highlighting the mixed emotions many entrepreneurs feel—excitement for the potential surge in sales and pressure to participate amidst ubiquitous promotional activities.
Steph Crowder [00:01]: "A cocktail of emotions around Black Friday... there's like a feeling of excitement but also a very present undertone, maybe even more overtly a pressure to participate."
Steph critically examines the common missteps entrepreneurs make when attempting to emulate traditional Black Friday deals, particularly focusing on service-based businesses like coaching and consulting.
Discounting Premium Services:
Many coaches mistakenly believe that slashing prices on their high-ticket programs will attract more clients. However, Steph observes that this strategy often backfires.
Steph Crowder [08:13]: "Discounting premium services undermines the perceived value of your coaching or group programs."
She notes that significant price reductions can devalue the services offered, making premium offerings appear less transformational.
Creating Low-Ticket Offers:
To make their services more accessible, entrepreneurs sometimes break down their comprehensive programs into smaller, cheaper components. Steph warns against this, highlighting several issues:
Steph Crowder [10:11]: "Creating, promoting, and selling even a low price point product requires time and effort. It can be a sinkhole of your time and effort."
Contrary to previous years' rampant spending, Steph observes a shift towards more discerning consumer behavior. Rather than impulsive buying, today's consumers are more cautious and deliberate with their purchases.
Steph Crowder [04:54]: "I think people are fine with spending money, but they want to be really, really sure that if they are spending money, they're spending it properly."
This discernment means that while consumers are still in a purchasing mindset during Black Friday, their approach is more calculated, seeking genuine value over superficial discounts.
"Black Friday Energy" refers to the underlying consumer mindset of being ready and willing to make purchases during the Black Friday period without the need for traditional discount tactics. Steph emphasizes leveraging this energy to position premium offerings effectively.
Steph Crowder [21:07]: "Positioning your offer in front of a primed audience... harnessing the buying energy without having to create a deal."
Steph outlines several strategies to capitalize on Black Friday Energy without resorting to discounts:
Focus on Premium Offers:
Instead of diluting offerings with low-ticket items, entrepreneurs should concentrate on promoting their core, high-value services.
Steph Crowder [22:02]: "Focus on those premium offers. It might be boring, but it's effective."
Create Time-Sensitive Offers Without Discounts:
Utilize urgency by limiting availability instead of lowering prices. This can involve:
Steph Crowder [23:17]: "Crafting compelling and time-sensitive offers so you can still use urgency without discounting."
Leverage External Urgency:
Align offerings with current events or seasonal needs. For example, a life coach for moms might focus on managing holiday stress, tapping into the immediate concerns of their audience.
Steph Crowder [25:05]: "Don't go into January looking back on your Christmas with your kids... experience the kind of holiday that you actually want."
Enhance Messaging with Storytelling and Testimonials:
Emphasizing the transformational value of services through genuine stories and client successes helps convey the true worth without needing to reduce prices.
Steph Crowder [27:56]: "Emphasizing value over price... showing them what is possible for them."
Steph underscores the importance of clearly communicating the value and transformational outcomes of premium services. She argues that lowering prices can distract from the core mission of delivering substantial results to clients.
Steph Crowder [27:56]: "Emphasizing value over price... the transformation has more weight, more value, and more utility than the dollars in their pocket."
Customizing conversations to address individual client needs and demonstrating how the service can uniquely benefit them is crucial for maintaining perceived value.
Steph Crowder [29:05]: "Helping clients walk across that bridge of understanding how the value is going to impact their own individual life."
Steph wraps up the episode by reiterating the superiority of Black Friday Energy over traditional deal-based strategies. She encourages entrepreneurs to stay focused on their core offerings, maintain pricing integrity, and leverage the purchasing mindset of the season without compromising their brand's value.
Steph Crowder [30:18]: "Black Friday Energy being the more sustainable and effective way versus scrambling to create low-ticket deals or discounts."
Additionally, she promotes her annual training program, "Year on the Wall," as a tool for achieving clarity and setting actionable goals for the upcoming year.
Steph Crowder [30:11]: "Join me live on December 6th at yearonthewall.com... move forward into 2025, knowing exactly what you are doing next."
On Consumer Mindset:
“I think people are fine with spending money, but they want to be really, really sure that if they are spending money, they're spending it properly.”
— Steph Crowder [04:54]
On Discounting Premium Services:
“Discounting premium services undermines the perceived value of your coaching or group programs.”
— Steph Crowder [08:13]
On Creating Low-Ticket Offers:
“Creating, promoting, and selling even a low price point product requires time and effort. It can be a sinkhole of your time and effort.”
— Steph Crowder [10:11]
On Black Friday Energy:
“Positioning your offer in front of a primed audience... harnessing the buying energy without having to create a deal.”
— Steph Crowder [21:07]
On Emphasizing Value:
“Emphasizing value over price... the transformation has more weight, more value, and more utility than the dollars in their pocket.”
— Steph Crowder [27:56]
Final Thoughts
Episode 110 of Courage & Clarity provides a nuanced perspective on navigating the Black Friday season as an entrepreneur. By distinguishing between the fleeting allure of discounts and the enduring strength of value-driven offers, Steph Crowder equips listeners with strategies to thrive without compromising their business integrity. Emphasizing Black Friday Energy over deals ensures sustainable growth and reinforces the importance of maintaining a strong brand presence in a competitive marketplace.