Came across this post at Church of the Customer Blog who writes about the mistake many businesses make in discounting or bargain-selling their key products. To illustrate their point, they show a picture of a “Puppy Sale” at a pet store. By discounting products that deliver the greatest emotional connection or derived value by your customers, devalues those same products, as well as the rest of your line up. Instead, create an incentive for buyers that compliments your key product and delivers more added value to the customer. For example, rather than have a puppy sale, sell puppies at their normal price but accompany the purchase with a free bag of dog food or a gift certificate towards dog training classes – team up with a dog trainer who will endorse a $50 or $100 voucher at no cost to you; they’ll be ecstatic to gain access to your customers!
Rajan is the founder and Editor-in-Chief of BIG Marketing for Small Business. He's an award-winning marketing strategist who is passionate about branding, digital marketing and social media. He spent nearly a decade as the marketing executive at global IT firm Peer 1 Hosting and was instrumental in their explosive growth.