This year, coupon redemption is expected to balloon to 31 billion. Compare that to the 16 billion coupons redeemed in 2014 and you’ll notice how customers’ interest in deals and offers has only grown. Future predictions indicate that by 2022, coupon redemption will rise further to $91 billion. While last year, customers saved a good […]
Discounts
Discounts, Deals, and Advance Access: Keys to Increasing Sales
Are you shooting all the different kinds of ammunition you have in your sales arsenal? I’m going to go over what I believe are three of the most important ways to achieve a sale. For the purpose of this article, I want to focus on the initial sale, so I’m going to skip upselling and cross-selling. As […]
Make Yourself Discount-Proof
Are you often asked to discount your fee or price? Typically, when a prospective customer or client balks at your price, it’s because they believe that the value of your offering is less than what they are being asked to pay. But, not always. There IS another reason. It’s this… They subscribe to the theory […]
Should Groupon Be Part of Your Franchise Marketing Strategy?
Understandably, increasing your sales and number of customers is a top priority when marketing your franchise. And while there are many strategies to do that, daily deal sites like Groupon might be one worth considering. How They Work You might be familiar with Groupon from the customer’s perspective: you have the opportunity to pay for an experience […]
3 Quick and Easy Marketing Tips for Your Franchise
This is going to be a killer year for your franchise. How do I know? Because I’m about to give you some crazy easy marketing tips that you’d be a fool not to take advantage of using. So many business owners think marketing is this complex thing that they don’t need to bother with. But […]
How to Be a Dictator Enforcing Sales Offer Deadlines
Everyone who manages a company or its sales force wants to write as many new deals as possible, and is usually warry about doing anything that might threaten the positive outcome of a pending sale. So, it is common practice to leave an offer containing a discount open, following up periodically to attempt to nudge […]
Couponing for Greater Profits
Sometimes, customers need that little extra incentive to come calling at your small business. Consider the coupon. Long viewed as the housewives’ shopping companion (Grandma loved it when the 7-cents-off creamed corn hit the paper!), coupons in this century have taken on a life of their own, with blogs and videos showing extreme shoppers taking […]
3 Top Myths Surrounding Product Discounts
While you don’t want to go reducing prices at random, every now and then the payoff can be huge. Each customer has a set price they are willing to pay for your product. Unfortunately, it’s rarely the same as the one advertised on your site. That’s because there are three main types of customers: Price-sensitive: customers […]
Value Creation as a Form of Discounting
There are all sorts of articles on creating superior differentiated value. Lots of them talk about creating more value than the customer expects, surprising and delighting them. In truth, I’ve been raised in this camp and have espoused some of these concepts myself. Just the concept of “added value,” is actually value over and above […]
Has “Sale” Become a Four-Letter Word?
There is a growing awareness in retail that a once surefire way to save the day is gone forever. When all else failed, retailers could always compete on price. Those days, in the words of the old song, are dwindling down to a precious few.
