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Episode Summary

  • Since it’s the first week of November and it’s the season for sales especially in the US, I thought we would talk about the age-old question of to discount or not to discount? On the podcast, I am going to talk about both cases and why they both make sense and at the end, I’m going to let you all draw your own opinions. 
  • Let’s start with the not to discount side. There are people that feel that when you discount your services, you’re discounting the value of your services. So, by discounting you are creating less value in the mind of your customer. Another argument I hear is that many of us are running on a shoestring budget and when we discount our services, we are giving up our profit. There is the argument that when you discount you sell more, but there is no guarantee of that! 
  • Now, let’s talk about the argument for discounting your services. I mentioned previously that often times when you discount your services, you get more people to buy. Black Friday is a perfect example of that! The other argument for discounting is that it makes your product accessible to those that couldn’t afford it at full price.
    • “There is that other benefit of discounting your services is that you reach and help more people!” – Stacey Ogden 

  • Are there options to discounting? Absolutely! One of the big options to discounting is to add more value! An example of that would be adding more to your package at the same price. 
  • With the holidays coming up, we have to consider the mindset of people who are buying our products or services. It’s a big sale time in the US and what the means with people who are trying to sell anything is that their potential customer is going to be inundated with sales, discounts, offers, upgrades and all sorts of other things! 
  • Let’s talk about a couple ways that YOU can get more for your holiday buck! If we are talking about trying to get more sales during the holiday, There are a lot of sale techniques that can increase your revenue. A great example of this would be bundling your service or product.
    • “Another option to discounting is you can provide services or products that you don’t offer any other time of year!” – Stacey Ogden   

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