Dec 21, 2020
In last week’s episode, we talked about the importance of pricing for online businesses. This week, I thought it would be appropriate to ask the question, “should you ever discount your offer?”
Many online entrepreneurs struggle with this question because of what they see retail businesses do. But online businesses are not retail businesses and thank sweet baby Jesus for that because the margins are SOOOOO much better for online businesses.
That’s why for this episode, we discuss:
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Why retail businesses are forced to have sales and offer discounts and why online businesses are different
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The manipulative pricing games retailers play with holiday sales and outlet stores
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How online marketers use “discounts” as a sales tactic to create urgency
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Why your current customers HATE when you discount your offer(s)
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Why service-based businesses should rarely (if ever) discount their prices
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The marketing strategy I like seeing our clients enact that doesn’t involve discounts
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Why testing price points is different than offering discounts