Posts Tagged ‘Discounts’
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…
Read MoreValue 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…
Read MoreHas “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.
Read More When All Else is Equal, the Lowest Price Wins!
When the customer perceives little difference between alternative solutions from vendors, the lowest price wins! And that’s how it should be, it would be insane for the customer to do anything else.
Read More Is Holiday Shopping a Canary in the Coal Mine for Retailers?
Well into the 20th century, miners used canaries as a way to detect methane and carbon monoxide in mines. As long as a canary was singing, all was well. If a canary died, it was time to abandon the mine immediately. It meant the oxygen was running out.
Read More When Profits Collapse, Don’t Turn to Discounting
I’ve been in the business world for over 40 years and I’ve lost count of the number of times that discounting has exacerbated a sales decline it was intended to avert. Conversely, I’ve seen sale declines turn around with amazing alacrity through more focused, value-oriented marketing messages.
Read More The Most Effective Holiday Discount Offers
Holiday retail season is almost here! Bring on Chrismukkah, Cyber Monday and Festivus! Soon, many companies will start to offer an array of discounts to boost their holiday sales.
Read More Digital Coupon Marketing [Infographic]
Think that coupon marketing is just for the bigger domineering brands? Think again. Digital coupons are an easy and effective way of attracting new customers and rewarding existing customers. 92% of consumers used a coupon in 2013.
Read More Using Digital Influence to Enhance the In-Store Experience
From the perspective of the digital consumer, the lines between online and offline have blurred; given this, most are looking for integrated shopping experiences, and retailers better take note and do something about it.
Read More Why Are They Buying?
Until we and the customer have really internalized why they need to buy, every deal is at risk. What are they trying to achieve? Why are they trying to do it? What are the consequences of not doing it? Why is it important to them now? What’s driving their need to do something?
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