I think we’ve all been in a place with our business where we wake up and we’re just…
Over it.
We’re no longer inspired by the programs we’re offering or the clients we have – and we want to start fresh and create something new.
There’s no denying that as entrepreneurs we are constantly evolving, but there is a right way, and a wrong way, to close down your programs.
Click below to watch or listen and find out the two strategies I recommend when its time to close them down.
Here’s what you need to know:
It’s essential that you do a close down sale, to capitalize on all the leads who have been hearing about your programs for months, or maybe even years.
With the added benefit of genuine scarcity, that these are really going away, it’s a no-brainer and easy sell to capitalize on one last push to make sure you get all of the ROI possible out of your existing offers.
Strategy #1 – Last Chance Promotion
If you’re 100% over your program, and you no longer want to maintain it or update it, then a last chance promotion is great.
Keep it super short in timeline, maybe 24-72 hours, and keep the focus on the results and testimonials from past participants.
Because this is genuinely the last time they’ll ever see it offered, focus on just your list to get the most out of this promotion.
Strategy #2 – Grandfather Promotion
If you’re no longer interested in offering a program because it doesn’t fit your message, but all the materials are still a fit, then I’d recommend a grandfathered promotion.
Maybe just a few update videos and worksheets, and some tweaks to the copy and positioning, are all that’s needed to get you inspired about it again.
For this one, you can reach out to your list, as well as new traffic, and keep the focus on the value. The price will be going up the next time it’s open, so they need to lock in the low rate now and then will get the added benefit of Version 2.0 being released in a few weeks or months.
Using either of these strategies is a smart way to make the most money from programs you already have, and to know that you got all of your ROI out of your list before you just close them down.
Leave a comment below:
Do you have a program you’re thinking of closing down? Which of these techniques will you try?
Or, if you’ve done a close down promotion before tell us how it went!
Jessica M. Castle. You are SO SMART.
I never even thought about the possibility of making an *opportunity* out of shutting down a program.
These are genius ideas for capitalizing on feeling meh about your offer. Only you could squeeze so much goodness out of what we normally see as a bad situation!
These are such genius ideas! I think we all feel that burnout at times throughout our entrepreneurial journeys — and these are such smart and strategic ways to squeeze out the maximum opportunities remaining within our offers. Thank you for sharing!