If you have a product you control, the power of having a one-day sale can generate instant cash in your pocket. The key to the success of a one day sale is you must actually be discounting something and offering a tremendous value off of your normal pricing. Giving 2 for 1, buy one get one free, and letting your customers know that this special will apply only for a certain period of time.
Experience has taught me that the minimum time is 24 hours and probably the maximum should be around 48 hours. Anything longer and it really loses the appeal of being something unique and special. If you plan on a 24 hour sale. Stick to it. You gain far more credibility by pulling the web page after 24 hours and replacing it with an, “I’m sorry, our sale ended at midnight, Check back often for news on future sales” message.
In the long run, you will get more sales by sticking to your planned time frame than if you just leave the page up thinking you might get a few stragglers who might make a purchase. Chances are that those who are really interested will make the effort to get to your site within the time frame you have allocated for the sale.
One other very important aspect to this type of marketing is to use it sparingly. If you have a special one-day sale, every week, it really becomes a non-event. You are pretty much wasting your time. How often you make some kind of special offer depends on several factors including the nature of the product or service you are selling, and even more importantly, to whom are you marketing the product or service. If you are using a mailing list and the list is growing rapidly, you may want to consider having a special sale more frequently than if your mailing list was growing at a much slower pace.
If done correctly, the response on these types of promotions can be 6 or 7 times greater than your normal sales conversion rate.
It’s also best to conduct these types of sales during periods that are normally slower in sales. I’ve generally used these types of promotions on weekends. Weekends just don’t generate anywhere near the amount of traffic of a weekday. You don’t want to discount on days when you can normally make sales at your regular prices.