The Problem With Offering Discounts
Why make yourself look cheap?
Holiday sales and discounts are a sugar high that’s almost impossible for business owners to resist.
All you have to do is create a coupon code and send out an email blast and your revenue WILL go up.
The short-term benefits of discounting your products is remarkable.
You WILL make bank and you’ll do it fast.
Where the damage shows up is in the long run.
It’s like when the Federal Reserve prints more currency. It gets you through the short-term problem while kicking the can down the road and creating more pain in the long run.
Lowering your price makes your nuisance customers happy at the expense of your highest-value customers
The discount you offer today isn’t going to go away when the sale period ends, because your customers and clients will never forget it.
Your normal price stops being the “real” price because everyone knows that all they have to do is wait and you’ll drop it down again.
Sales periods attract cheapskates and penny-pinchers, people who are known to be the worst customers on the planet. NO ONE leaves more negative reviews, files more chargebacks, and sends more angry emails than people who spend the least.