Don’t discount, Add Value
A lot of business short change themselves. How do they do this? They offer discounts.
You might be surprised, and ask how this is bad. Well, by not discounting, and simply adding value, what you do is to increase the average revenue your business makes.
How do you stop discounting?
Well, you just don’t discount. Earn that extra bucks, because you deserve it. When you don’t discount, you will make the highest profit possible. How do you not discount and still make money? Offer an extra incentive. This you do by helping your customer meet a need. Assuming your customer shops at various locations, you might offer to help them deliver their goods to their homes. This way, your customer will be more than willing to stick with you and pay in full.
Here are a few ideas on ways to stop giving discounts
It is very important to focus on the quality and the importance of your product, make sure it is meeting a need. You don’t have to focus on the price.
You might offer incentives to your buyers, and make them feel they are loved. This you can do by providing an additional service at no charge, for instance, as stated above, you can provide free home delivery, you might offer to charge them on a monthly basis, to reduce the costs they’d incur using credit cards.
Do not be afraid to lose a sale, if you don’t make the sale, then it’s not yours. You could make the sale and get a bad rating. So do not be afraid of not making that sale.
Offer to add even more value to the purchased product. Take, for instance, if you are an auto mobile dealer, you can offer to help your client service the vehicles purchased from you for free the first or second time they bring it for servicing.
You must look for cheap ways to add more value to your products. It should be perceived value. The more expensive a product is, the more value needed. These things might just cost you a few bucks (if at all). And your customers will be glued to you.