hey guys in today's video I'm gonna give you the psychological reasoning why
Black Friday deals work so well in fact so well that some people murder for the
deal and after teaching you how you're persuaded I'm gonna go ahead and try to
persuade you to saving over $1000 at the end of this video specifically I'm going
to give you seven reasons that Black Friday has become such a huge phenomenon
number one is in-group the in-group bias is pretty simple people act more
positively towards people who belong within their group and act more
negatively towards people who belong outside of their group now these groups
vary widely but group members usually have one characteristic or one trait or
one belief that joins them together these groups may include people of one
race people of one religion or even people who belong to a certain fanbase
for example sports fans display in-group bias quite clearly a Philadelphia Eagles
fan may without much conscious thought react more positively upon seeing
another Eagles fan instead of a Cowboys fan both fans watch football but because
they identify with different groups they may come into conflict when they meet we
do the same thing basically for Black Friday we want to be in the in-group
that is the Black Friday sales people always ask what deals did you score or
did you go to Walmart or Best Buy on Black Friday and if we didn't go at all
we might feel left out even if we went and didn't buy anything so another
reason is something called scarcity now when it comes to economics the scarcity
mindset boils down to the rules of supply and demand when there is low
supply demand is inverse and increases business owners and brands use this
phenomenon to make their products more appealing have you ever looked at
airline tickets and saw that there were only two seats left
well that factor probably had a big influence on your purchasing decision
actually Amazon uses this all the time businesses know the benefit of telling
customers that they might buy the last available product or that an entire line
of merchandise is so-called limited edition Cabela's is a retailer that
specializes in gear for activities like hunting fishing and camping in recent
years they've offered a Black Friday promotion that speaks to this scarcity
mindset the first 600 shoppers in their line get a mystery envelope that
contains free products for customers over the age of 18 and yes some of those
products are firearms these products were randomized and included items like
gift cards alongside pistols and shotguns but only 600 people could get
the freebies per store so Cabela's used this scarcity mindset to bring people to
their doors first thing in the morning on Black Friday in fact some people left
their Thanksgiving dinners for the possibility
of a free gun let's just leave it at that the next one is urgency now urgency
isn't just about getting buyers to make a purchasing decision
it's about getting buyers to make a purchasing decision right now rather
than playing the long game retailers and sales representatives use urgency so
that they can see the sale being closed in front of their very eyes timing is
everything with urgency and the timing of Black Friday is very crucial to its
urgency and its appeal to retailers Black Friday is officially the start of
the holiday shopping season retailers often have new products that are
exclusive to the holiday season but before they can fill their shelves with
these holiday themed products they need to make room for them they need to sell
old stock so Black Friday may be used as an opportunity to literally clear the
shelves before resetting the store with holiday decorations also Black Friday
falls during the time when consumers want to buy holiday gifts in fact only
18 percent of shoppers wait until December to start their holiday shopping
most consumers start making purchases as early as September or October now this
is actually really important Black Friday lives right in the sweet spot
between being too early to shop and too late to start the holidays when
businesses incorporate urgency into their sales or deals humans revert to
instincts we draw up rational thought and ask ourselves what decision will
bring us the most pleasure and which will bring us pain in the case of
desirable products at very cheap prices purchasing the product immediately will
bring us pleasure of course and missing out on that deal and never being able to
get it again for a whole nother year will result in pain so what do you think
the humans will decide to do also words like today only invoke very powerful and
motivating emotions another big factor is FOMO now FOMO is an acronym for fear
of missing out it's a feeling that you might experience if you were in the
situation of the cabela's free giveaway and missed out all of your friends may
be attending an event and if you don't get a ticket you'll be missing out so
think about it like this has fun will ever led you to buy a ticket to an event
recently well you're not alone Eventbrite conducted a study of over
2000 young adults and 69% of them experienced FOMO when they couldn't go
to an event that they knew their friends or family would be attending experts
have linked the frequency of FOMO to the rise of social media usage with
Millennials sending a massive amount of time per day engaged in some type of
social media they have more opportunities to see when they're
missing out on events that their friends might be having a lot of fun at how many
times have you seen friends or family members spending time without you and
maybe you felt sad or disappointed that you weren't able to enjoy the event well
these are the negative feelings that fuel fo Mon also I want to say that FOMO
isn't just a slang it's an actual phenomenon that has made its way into
research at top universities and it's definitely a phenomenon that has
captured the attention of retailers and marketers who want to use full mode to
continue influencing purchasing decisions the next thing I want to talk
about is instant gratification so instant gratification is based on the
idea that humans want to feel satisfaction and they want to feel it
now humans instinctively seek out pleasure and try to avoid pain whether
that pleasure is owning a new television or eating ice cream we don't like to
delay the process that brings us pleasure instant gratification can take
over our purchasing decisions well instantly let's say you're on a diet but
as you drive home from work you start to feel hungry you see a fast-food
restaurant that has your favorite burger up ahead and suddenly you're at a
crossroads you can either wait 30 minutes until you get home from work and
prepare a more nutritious meal that will eventually satisfy your cravings or you
can take the right turn and get that amazing burger depending on your
willpower you might find yourself breaking the rules of your diet due to
your instinct to get instant gratification sure you might feel some
pain later after you start to think about the consequences of eating fast
food but in the moment your need for instant gratification will justify any
pain and may be days or weeks down the road we have all made a regretful
purchase on Black Friday in fact many people get caught up in the excitement
and start grabbing items off the shelves without actually weighing the
consequences of their purchases that is why consumers end up spending hundreds
of dollars each during this shopping weekend one of the
reasons we buy bulk on Black Friday is to receive the instant gratification of
checking people off of our shopping list Black Friday is the start of the holiday
shopping season and often the first day that people start buying Christmas and
other holidays gives what is more satisfying and instantly gratifying than
finishing your Christmas shopping over the course of one weekend another thing
that isn't really a psychological effect but definitely accounts to why Black
Friday deals are so huge is something called volume versus value when
businesses are creating their pricing strategy they have to look at many
numbers and to try to find balance two of the most important numbers are the
volume of items that they want to sell and the value of those items so volume
is a number that refers to the quantity of items that were purchased in a period
of time now this is a concrete number that doesn't involve abstract factors if
two items were sold the sales volume is two regardless of the value of those now
if we move on the value of an item is how much money the product would make if
it were sold this number change due to a variety of factors now
this is what makes Black Friday unique often businesses will sacrifice value
and focus on increasing sales volume during the holiday weekend well it
appears that the businesses are missing out on making more money by trying to
cut their prices there are many ways to justify volume based selling and there
is no better time for these justifications to produce result than
Black Friday when you know a ton of people will be in your store
and lastly shopping on Black Friday is practical it isn't enough for some
shoppers to start buying items for people on their list many shoppers want
to check everyone off their list by Black Friday weekend and this goal is
definitely practical and it's achievable Black Friday isn't just limited to one
type of retailer there's Airlines or tech retailers and toy stores they all
offer up sales on Black Friday in fact you can probably find deals on products
that will satisfy everyone on your shopping list now this widespread
phenomenon of Black Friday doesn't just allow shoppers to put their shopping
goals into practice they can also see the practice all the way through until
there is no one left on their list to shop for if you're like me this
possibility is very tempting for many shoppers who don't have as much time to
casually shop throughout the month of December so as I wrap that up I want to
get on to my deal for you today basically I'm offering all of my current
courses in a bundle for today only plus a new course on copywriting that I
haven't even released yet all for a total price of less than an average
college course I mean imagine what one world history or ethics or mathematics
class and college could do for you and I guarantee literally by a money-back
guarantee something that colleges don't do that you'll get more bang for your
buck when you invest in yourself with one of these online courses so what are
the courses in this Black Friday bundled well the first one is psychology of
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irresistible attractive and how to use psychology to make her want you there's
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probably never heard of number three is psychology of selling
it's a proven solution as skyrocket your sales explode your online conversion
rates and persuade buyers to take action using marketing tactics backed by
simple psychology is meant for salespeople but honestly the information
in this course is just meant to help you become more persuasive and your ideas
and your behavior almost everything in this course also applies to dating - but
it's very powerful if used in sales if you like this stuff that I mentioned in
this video about why people like Black Friday you'll absolutely love psychology
of selling because not only do I explain what works I also explain why it works
using the 25 cognitive biases and lastly is copywriting Kim copywriting kit is a
toolbox of videos explaining the foundations of earning a secondary
income through the skill of writing persuasively now this is going to be a
training course with the goal of helping you to earn extra money and ultimately
more freedom by developing your persuasive writing skills it's actually
not released yet but you'll get early access to it which is actually really
valuable because I expect copywriting to be a saturated field in a couple years
and only experts with experience will be able to thrive but with this deal you
don't just get the courses you also get the bonuses that I've created for each
course so for example in psychology of Attraction I have a hundred 50 date idea
checklist and a list of super-easy unsaturated pickup lines for psychology
of productivity you'll get an e-book of 120 productivity hacks a SMART goal
checklist a daily productivity planner and of time management audit and for
psychology of selling well there's actually eight bonuses in it at the
moment first there's some golden Facebook ads then there's a library of
very high converting opt-in pages a copy paste autoresponder some sales page
outlines cold calling scripts a sales presentation checklist a buzz word flash
list and some reviews of sales websites basically without going into all this
jargon if you want a full detail of all the bonuses in this course check out the
link in the description below psychology of Attraction and psychology of
productivity normally cost $97 each psychology of selling normally cost 497
and when I launched copywriting kit I'll probably launch it at $147
so without the bonuses there's a total value of already around $800 once you
add in the bonuses which I've calculated to cost around three thousand five
hundred and forty six dollars that's over four thousand dollars in value for
the one-time lifetime membership price of two hundred ninety seven dollars
right now that's over ninety percent off also I want to let you know that I offer
a 30-day money-back guarantee on all of my courses and I decided to also offer
it on this deal too because I believe the philosophy if you don't love these
courses I insist that you get a hundred percent of your money back without a
hassle it's just how my business I don't want any students or
customers feeling cheated or scammed in fact my refund rate is less than 7% and
the people that I do refund are usually in less than 24 hours again I'm only
offering this deal for today only because I can't run out all the time it
would devalue the other courses value I also want to let you know send me an
email if you've already bought one of my courses and I'll give you a coupon for
the same percentage off this bundle deal that way you get the same discount
proportionate to if you were new to this deal because there's no need for someone
who bought all of my other courses except for one of them to pay two
hundred ninety seven dollars when proportionately you should really only
be paying thirty-two so thank you guys so much for watching I encourage you to
go check out the Black Friday deal before it expires in the link below and
i really hope you learned something from this video it was a lot of fun to create