The negative effects of offering discounts.
Discounts pull consumers in and then you never see them again... until the next sale! If a lower price is the only competitive advantage you have, it makes it more difficult for the returning customer to pay full price for your product the next time they need it.
Without a good reason, discounts are generally not a good idea and can leave full-price paying customers feeling cheated.
Unless you are creative with the way you do them like this business did!
Reward your customers with a personalized discount. Make them feel special!
Leave your customers feeling great and pleasantly surprised!
So before you get sucked into lowering your price so you can make a quick sale, ask yourself, "Will it improve my reputation and my relationship with customers?", and "Will it attract the right kind of customer?".
Are you offering discounts in the right way?
Morty Silber, CEO
Mad Strategies Inc.
a Wizard of Ads Partner