Why you should NEVER use discounts?
Why you should NEVER use discounts?
This may sound crazy to you, but I am going to give you the truth…
People don’t care about the price.
In most of the cases of course.
If you charge $3000 for a glass of water it matters.
However, the exception doesn’t disprove the rule.
After reading this, you’ll never use discounts again, but you’ll get more sales.
Wild, but true. Let’s get into it.
People don’t care about discounts and prices. The same goes for you, but it’s a bit tricky to notice.
Here’s why. Cheap doesn’t mean good.
Imagine someone saying to you “Hey man(or woman), I can get your tooth fixed for $3!”
Nobody, even drunk, would agree to this. You would think it’s a joke because it’s so cheap.
As a business owner, doing something like this, making big discounts does a similar thing to your customers’ brains.
It makes them think “I probably shouldn’t go there, it’s too cheap.” Sounds ridiculous, but as I said, you are the same, all of us are.
When was the last time your most expensive local restaurant or dentist lowered the prices? Exactly. Never. They don’t need to.
They don’t need it because they know how the pricing and people handing over good money work.
Without this, there’s a possibility of your business failing completely, let alone only losing money.
That’s why I’m going to tell you the secret.
You can charge more if your product/service is more valuable than the price to your buyers.
People buy thinking “I gave him $50 and I got something worth more. I profited!”, and vice versa “I got $50 for something worth less!” It’s just how the human brain works.
Therefore, you ONLY need to show them how much value they will get, and you can give them a huge price.
That’s how clothing brands sell their clothes. Louis Vuitton clothes have the same quality as a $1 store t-shirt, but they convinced people that their shirt is so valuable that you pay $200+.
You need to do the same. Do it everywhere. Your ads, selling process, and content marketing…in everything you do. Just show them how valuable your product/service is.
This can be really tricky, especially if you’re not so familiar with marketing.
You can learn it yourself, but it will take a lot of your time, or you can do it much quicker with a logical decision.
Working with someone who knows how to do it.
And surprise, surprise…I know!
Click the link below and book a call with me so we can start getting you more sales by increasing your prices!