Video 19 - STOP Discounting Madness and Increase Sales

https://www.IMJusticeMarketing.com ... (321) 622-5756 ... Dave Smith ...
IMJustice Marketing and How You Should STOP Discounting Madness ...

As you likely know, a deep discount can serve as a powerful draw for old and new customers alike. Consumers love a "deal" - they love it when they can get more for less. They especially love with they can get the same product for less than others have paid for it, or less than other companies are offering it for. So, a lot of Business Owners rely on the power of discounting to get people into their business, and to convert customers. They use discounts in their headlines, powerful offers,
promotions and guarantees.

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While there is nothing wrong with this, I find that it is a lazy strategy. Instead of creating an offer specific for a target market, they slash some of their prices and wait for the drove of customers to come flying through the door. And the problem with that is the bottom line. Discounting is often an ineffective strategy because it offers too little - if any - return on investment. It also draws discount customers who many never actually pay full price - an unprofitable customer.

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Discounting can also impact your business beyond the price of the product itself. There are greater potential consequences that you may not be aware of. Here's how discounting can affect your business in an adverse way:

* * * Discounting makes you less money than you think.
* * * Discounting attracts the wrong customers.
* * * Discounting affects the way your customers see your business.
* * * Discounting can create a price war.
* * * Discounting eats into your profit margins.
* * * Discounting can cause customers to wait for reduced prices

I usually advise my clients to consider all other options before diving into a discount strategy. Often, there are other more profitable ways to achieve the same objectives. Discounting works because customers feel they are getting more value for less money. However, there are many ways to increase the value/price ratio of a product without decreasing its price, such as product/service widgets and bonus offers.

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IMJustice Marketing ... Dave Smith
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https://www.IMJusticeMarketing.com ... (321) 622-5756 ... Dave Smith ...
IMJustice Marketing and How You Should STOP Discounting Madness ...