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The Game with Alex Hormozi

How to Get Rich This Holiday Season! | Ep 638

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.94.4K Ratings

🗓️ 28 November 2023

⏱️ 18 minutes

🧾️ Download transcript

Summary

Watch the YouTube version of this episode HERE

“If you are worried about too many people quote, taking advantage of it, You can drive even more scarcity by limiting quantity.” Today, Alex (@AlexHormozi) gives strategies for maximizing profits during the holiday season by utilizing various marketing tactics such as loss leaders, gift cards, high-ticket items, and buy one get one free promotions. He emphasizes the importance of presenting these strategies in an appealing way to attract customers.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(1:01) - Strategy #1: Loss Leader

(3:56) - Strategy #2: Gift Cards

(7:58) - Strategy #3: High Ticket, High Scarcity

(10:24) - Strategy #4: Free with prepay

(15:01) - Using the M.A.G.I.C Formula

Follow Alex Hormozi’s Socials:

LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition 

Transcript

Click on a timestamp to play from that location

0:00.0

Let's be real, you're not going to change your entire business for the holidays to make something sound different, but you can make it look different based on how you present it.

0:08.9

The wealthiest people in the world see business as a game. This podcast the game is my attempt at documenting

0:13.6

the lessons I've learned on my way to building acquisition.com into a billion dollar portfolio.

0:17.2

My hope is that you use the lessons to grow your business and maybe someday soon partner

0:20.5

with us to get to a hundred million dollars and beyond. I hope you share and enjoy.

0:23.2

The holidays are upon us and most businesses make more money in the last month of the year than they do any other month.

0:35.6

If you own a business or you work for a business, this is your opportunity to capitalize.

0:40.1

And every one of these presents, I'm going to open up and give you one holiday money-making tactic.

0:45.2

Starting with this one. So let's open this guy up. What do we have inside? We've got diapers, and we've got baby bottles.

0:52.4

Now what do these have to do with making money?

0:54.8

Inside of diapers and the baby bottles is actually one of the strongest concepts for holiday

0:59.6

marketing which is something called a loss leader. So what is a loss leader?

1:02.6

A loss leader is basically where you sell a very well understood product

1:06.9

and you sell it for less than the market understands the prices for it.

1:09.8

So you sell it at a loss.

1:11.3

Now, why would it be called a loss leader? The leader part of it is that it

1:14.7

brings people in the door. Most people know that if you have a baby you got to buy a diaper. The highest

1:19.7

percentage of the population you have babies, buy diapers. They all need diapers.

1:23.2

Sell the thing that most of them understand what the price is for that almost all

1:26.9

customers will buy so that you can bring them the door because if you have the

1:30.7

cheapest diapers they're going to come buy diapers from you.

1:33.0

Now what they might not know the prices for are all the ancillary purchases they might make

...

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