One Sale a Day – 1SaleADay.com’s Story
How about buying a laptop for 50 bucks? Are you interested? This is an extraordinary story about a guy, who made millions of dollars selling at big discounts! At first sight, you may be thinking that I am kidding, but this is not a laughing matter… This is the real story of Ben Federman, the founder of 1SaleADay.com, where you can buy every day different product at up to 90% discount.
Imagine, that you want to buy a digital camera. The best price you have found so far is $300 bucks and occasionally you come across a site, where your camera is listed for $40. A brand new product, the same as this one is sold around at 9 times higher price. Wouldn’t you share this site with all of your friends and relatives? I would… And this is the marketing strategy this great business relays on.
According to Ben Federman, this is the greatest marketing technique! When people buy at prices many times cheaper than these in usual stores and later they are happy with their purchases, they are eager to share this with everybody they know. This is how this site has been getting more and more popular really fast. And the most important thing here is: when people get a deal like this, they are coming back!
But how is it possible for someone to sell at such prices and still make a profit? Well, there is no magic in this… Federman buys watches, electronics and all other products he sells in huge amounts and this is how he manages to get them at really nice prices from his suppliers. From time to time, 1SaleADay.com loses a couple of millions from such deals, but Ben is just OK with this, it’s inevitable. The important thing here is that the business model as a whole is a complete success. The growth in sales has been increasing by 100% since the start of the venture in 2007.
Federman left the army in 2003 and wanted to be his own boss. He was thinking about starting an online business but wanted to make something a little bit different and innovative. So he decided to sell great products at even greater prices! He managed to accumulate a hundred thousand dollars drying out credit cards and savings accounts. In 2007 1SaleADay.com was launched. What he earned, he reinvested back. The venture became profitable in its third year.
The Site Today
Today, the company is growing bigger and bigger. In 2010 a venture company funded the business allowing further expansion. Its marketing strategy remains the same – investing in customers’ satisfaction. The new sales are generated mainly by word of mouth and the decent social presence 1SaleADay.com today has. Recently, some new and more specialized sites employing the same strategy have been launched by the company: Shadora.com – jewels; PaperGoods.com – paper stuff; DynamiteTime.com – watches. Several more are planned to be developed soon. A decent portion of the company’s profits is donated for charity. Federman likes the idea of helping the others and increases the donated amount with the growth of his business.