Dec 5, 2016
Do offering discounts cheapen your brand or business image?
Seriously who doesn’t like a good old coupon? Or coming home with a new purchase that was 50% off it’s original asking price? Short answer; not everyone.
Thanks to the likes of certain brands such as, Loui Vuitton and Chanel, who go on sale every blue moon – to never at all. Some consumers have been led to believe that this is what distinguishes a good and high quality brand, from the cheap and irreplaceable ones. But this isn’t just about these high end fashion houses. Small and independently run shops and businesses, are slowly taking to this notion. So, is this risky business or is this business savvy?
All in favor of sales
There’s a big difference between having a end of season/end of year sale, as opposed to a 24/7 liquidation sale. Having sales is a great way for new businesses to build their customer base by enticing customers to try their service or product, at a discounted price. It allows shop owners to keep their products and shop floor looking fresh by selling out the old stock to make way for the new. While allowing service based businesses, to stay afloat during the quieter months by promoting certain offers and or discounts.
Cutting out sales and promotions also cuts out a major percentage of your market, the “bargain shoppers.” For some people bargain shopping is about saving money and for others it’s about the hunt. They feel good about themselves, when their hunting efforts land them a sweet deal. You could probably blame our hunting ancestors for that. Point is, if you don’t raise those sales signs, they won’t come knocking.
All not in favor of sales
So, what’s the problem with having sales? Although there are many benefits to offering discounts and the occasional sale, there are also risks. When a customer sees something that is on sale, they may not see that product and or service at it’s full value. This can then reflect your business, in that same light.
Look at the success of Apple. When was the last time you saw a SALE sign in their shop window? Consumers know that a business is hardly likely to go on sale when they’re selling something that is almost always on the verge of being sold out. Why discount your price on something that is flying out the door? But what are those new customers you scored with that special deal? Will they be a returning customer? Were they sold on your product or service or did you just satisfy their hunger for grabbing a bargain?
All in favor of the answer
However you choose to present your business is entirely up to you. But like all things in life, it’s always important to find the right balance and that is something that caters to both kind of shoppers. For businesses that provide services, offer a complimentary consultation rather than reducing your service price, to match that of a competitor. For an eCommerce businesses, why not offer free shipping instead of taking value away from your product? Having a clean website with these offers promoted will only add to the value of your business. The Bouncehelp software can help you set these offers up with the use of its Exiting Monitor feature. Once installed on your website, this particular feature has the ability to determine the exact time a visitor will leave your website and just before they do, a pop up box will appear with a special offer. “Hey, how about FREE shipping on that order?” or “We’d like to invite you for a FREE consultation, interested?” The visitor has the option of pressing Yes or No. This is all providing they’re not already sold with your smart and intuitive Contact button that’s also featured within the Bouncehelp software. You’re never losing if can excite your customers with something, without giving away everything. So, how about that 7 Day FREE trial with Bouncehelp, interested?