Coupons and discounts CAN be very powerful when it comes to getting new customers, generating cashflow and boosting sales… but we are putting a BIG asterisk on today’s episode that says – you must use this tactic VERY strategically!
It’s not the only tool in your toolbox when it comes to getting your market to buy from you.
Because what can happen is that you’re not getting the sales you want or you are thinking up ideas for a new campaign and it can be REALLY easy to jump to offering 20% off or providing some other discount as your first idea, when you really don’t have to… and when doing so could actually HURT your business rather than help it.
So you want to be really clear about WHY and WHEN you offer a discount or coupon. Because they can be AWESOME when done well… and when not done well you are essentially giving away profit you didn’t need to sacrifice.
In today’s episode your hosts, Suzi Dafnis and Michelle Falzon dig deep into WHEN you might want to think about offering a discount or coupon, HOW you can do it to get the most bang for your buck and some tips on what NOT to do.
FREE DOWNLOAD: See our best ideas for getting people to buy MORE from you after they claim their discount or coupon by getting the 10 Step 2 Secret Examples download here.
Listen to this episode to hear more about:
- How you might be using discounts to erode your value (and what you can do instead)
- Why you need to have a healthy belief in your product and your pricing BEFORE you even think about offering a discount
- The “bulk order” strategy you can use to turn every sale into a higher dollar value
- An idea to get your “first time shoppers” leaping into action and buying from you right away
- The clever discount strategy HerBusiness member Anita McLachlan of Sequins and Sand is using to tap into her IDEAL customers
- What a “Loss Leader” is and why it’s OK (sometimes!) not to make money on that first sale
- How to use discounts and coupon codes to activate your current client base to give you more referrals
- The “early bird” discount strategy that can help you get people signing up for your events sooner
- Ways to discount that aren’t just about offering $$ off!
- Why it’s more about “perceived value” and how to pack a punch with your discount messaging
- The big mistake Suzi and Michelle see retailers make ALL the time with their discounting strategy that is costing them BIG TIME
- Much, much more…
Also mentioned in this episode: