Offer Different Prices Depending On Inventory Level with PlusThis Scarcity Triggers
You want to offer a product at one price point until you sell X units, then offer it at a different price point.
Here’s how, with PlusThis Scarcity Triggers.
I want to offer a limited number of low priced consulting calls each week.
Usually I charge $300 an hour. I’m going to start offering up to 5 calls per week at $100 per hour.
This will get me more prospects for my higher priced consulting services- retainer work, commission work, or ongoing consulting deals.
By only offering 5 per week, I won’t overload my schedule with lower value work. And the real scarcity and integrity of the offer will help defend my brand value even as I offer a lower price for some of my work.
Eventually a person will click to schedule a call and see that they have to plan 3 months out to get a $100 call. But a $300 call is available 2 days from now.
Let’s set up PlusThis.
First choose the Scarcity Triggers feature.
You have four and a half settings.
1. Select Tag To Count
2. Number Logic
3. Choose Amount
4. Select Tag To Apply
4.5 Add Tagging Condition
Select Tag To Count
For “Select Tag To Count” I am choosing a tag specific to a week.
My taxonomy uses the Monday of the week to define the week.
So [Admin -> Call Scheduled 10-10-2016] defines all calls scheduled in the week of 10-10-2016 to 10-15-2016.
I’m ignoring holidays, vacation days etc. for my automation. I’ll mark those days as unavailable in my calendar.
For number logic, your choices are:
1. Greater Than
2. Less Than
4. Not Equal
I want Less Than because I want my offer to apply to the first 5 people each week, but not to person #6.
While I am applying a tag to the first 5 people so I know who to give the discount to, you could also set it to Greater Than and apply a tag to all the people who get the second offer price.
Use “Equal” if you want to tag only one person. For example, you could tag the 35th person who completes a form and use that tag to deliver a bonus.
You could also use “Equal” to gate content based on however many people are using a product. For example, if 10 people (and only 10 people) have the “Logged in within the last 7 days” tag from your membership site, then deliver bonus content to new members. But I don’t know why you would do that- probably better to use “Greater Than” or “Lesser Than.”
“Not Equal” is similarly limited. I could imagine using it to say “You get access to bonus content as long as you’ve completed at least 1 membership site content piece in the last 7 days.”
You’d use Memberium to apply a tag when a person completes a content piece, then add a second tag that expires in 7 days, and use that second tag in your Scarcity Trigger.
But in that case, you could make the function apply to everyone by just showing content or bonus based on the presence of the expiring tag. If you can think of a good use case for “Not Equals”, I’d love to hear about it.
But for my case “Less Than” is best.
Pretty obvious. Note that if you switch from “Greater Than” to “Less Than” (or vice versa), you want to change the Amount number by 1.
As in, “Greater Than” 5 is exclusive with “Less Than” 6.
If you wanted to change your logic from “Greater Than” 5 and went straight to “Less Than” 5, you actually missed 5 and now are applying the tag only to the first 4 people with the tag (rather than every person #6 and on).
Select Tag To Apply
Use this tag to give access to your content, or in my case, route a buyer to the correct page.
Three ways you could do this:
The first is in FeedBolt. I’m using that to email my blog posts out to my community.
I can put a link in there to a landing page for a consulting call and tag people with the Call Scheduled tag. Then on that landing page when they click to schedule a call, use PlusThis SmartLinks to send them either to a calendar showing booking spots for $100 calls with appropriate price language, or to a calendar showing $300 spots with appropriate language.
I may go a different route and use a delay such that after clicking the link in the email I fire the HTTP Post, wait a few seconds, and then send people directly to a SmartLink. That way I can talk about price on the landing page. But that will require a brief delay between link and landing page, as opposed to between landing page and calendar, so I need to weigh the pros and cons.
A third way I could use this tag is to let everyone see the same landing page, fire off the post when they hit that page, take everyone to the same calendar page, and then send them to a different order form page after they’ve booked their call. This approach doesn’t let tell people what a call will cost before they book, which isn’t great.
Add Tagging Condition
You can have more than one tagging condition if you want, and you can either run all of them or just stop once the contact fulfills one of the conditions.
In my scenario I just have one condition.
But I can imagine using this to have multiple tiers depending on when people take an action.
“The first 5 people to register for this webinar will get a free hour of consulting, and the next 10 people to register will receive $100 off our annual membership, and the next 20 people…”
Infusionsoft Campaign Builder Setup
The campaign is simple for my scenario. When the first tag is applied, run the post.
Everyone who gets the Call Scheduled tag will move in to this campaign.
The first 5 people will then also get the second tag applied by Plusthis.
Person #6 and beyond will not get the second tag applied.
If less than 5 people get the tag applied, no worries. They all get the Call Discount tag.
Each week gets its own line with the week specific tag applied goal and the unique HTTP Post for that PlusThis Feature. This takes a while to set up the first time, but I’ll only need to add in new PlusThis Feature URLs to the HTTP Posts in the future. I have October all done!
I will need a different Feature for each week.
If I only offer bookings 2 months in advance, I would need 8 PlusThis Features and I could delete last week’s feature and add 1 more each week, or update the Features monthly.
You now have better inventory control, at least for some cases.
If you have a fluctuating inventory amount, update the PlusThis Scarcity Trigger whenever you get new inventory in.
Use “Less Than” and then add the number of your new inventory to the number already in the Feature.
For the initial tag use the tag applied when a person requests to buy your item.
For the second tag use a tag that starts the fulfillment process.
Here would be a good time to use more than one condition. If they meet the criteria (that is, there are fewer people with the “requested” tag than actual products sold), apply the fulfillment tag and set the Feature to stop running once one rule is met.
But if they don’t meet criteria #1, apply a non-fulfillment tag that tells them you are sold out.
Note that you’d need to decide whether you want to keep a waitlist around that automatically gets fulfilled before new people can buy.
And you’d also need to remove the initial tag from people who don’t get fulfilled if you aren’t using a waitlist.
But with some ingenuity, and updating your PlusThis Scarcity Trigger when you get new stock, you can deliver a customized experience beyond the default Infusionsoft “Sold Out” functionality.
Other Inventory Solutions
Check out Intrakr. I haven’t used it myself, but I met the founder at ICON a couple years back and liked him. If you do try it out, let me know what you think.