Are you discounting your products or services? This may change your thinking...
Many businesses are too quick to compete on price, using discounts and sales to make their offers more attractive to customers. While there is a place for these strategies – in most cases prices should actually be increased.
We know that most customers wouldn’t actually mind paying a little more if the overall experience and offer they get is far above the competition. What’s more, most businesses don’t fully understand the impact to the bottom line that discounts have – you may be surprised to find out it’s not as simple as a 10% discount meaning 10% less profit per sale, in fact it’s double that at 20%. We call this the double whammy effect.
We coach our clients on how to avoid these pit falls and increase their profits without using discount schemes.
I cover this and many more powerful profit boosting strategies in my free business growth workshop ‘6 Steps to a Better Business”
Click here for more info and to book your place on the next workshop.
