My side hustle made me over £1,000 in an hour thanks to my £7 rule – I got 77 new customers without even trying
A WOMAN who sells stuff online for a living has revealed how her £7 rule saw her cash in over £1,000 in just one hour.
Saleswoman Elise Mcdowell flogs digital products like courses, guides and journals online – and promotes sales through social media and emails.
She designs the products herself before listing them on Amazon and her website, where shoppers can purchase them directly.
But when trying to push sales at the start of her side hustle, she found a hack that sparked a flurry of purchases.
Elise decided to lower the price of one of her courses to match the number seven.
As she is based in Los Angeles, US, that made the price $7 – but the theory also applies to it being £7 in the UK.
“I wanted to test out a theory that more people would buy based on the price and even people who had never purchased a product from me before would buy,” she said.
“And it wouldn’t matter what the product was, it would sell.
“77 people purchased the product and I added an extra $1385 to my monthly sales in 24 hours from sending only two emails to a segmented email list.
“My theory was proven right.”
According to the saleswoman, the price is “ridiculously easy to say yes to” for shoppers – especially considering she’d slashed her course from the original price of £37 ($47).
Elise revealed all in a post on her website where she flogs her digital and printable products.
“As you might know, getting a customer for the first time is the hardest part,” she explained.
“But after you do, you’re 20 to 30% likely to have those same customers come back and purchase more from you.”
FOUR KEY BENEFITS
She encouraged others with a side hustle flogging products online to experiment with the hack.
“There is barely any barrier-to-entry for customers,” Elise said.
“You’ll get many more new customers so that you can demonstrate what it’s like to work with you.
“It helps you get comfortable with selling and see it as fun and easy.
“It enables you to test your product ideas with a micro-version of the type of products you want to create.”
She recently released a paperback journal designed from her laptop and is flogging it on Amazon for £23.80.
“Year of Abundance is a ‘one question a day’ guided journal designed to help you overcome your limitations, improve your self-worth and live in a state of abundance,” a blurb on it reads.
“Filled with 365 prompts and questions, this journal is your ultimate daily tool for transforming your relationship with lack, scarcity and fear.”
With most of the page space being lines for buyers to write on, it’s clear how quickly you can design an easy-to-produce or digital product to sell online.