I hate sales and discounts — at least for professionals and small businesses. When you lower prices, you’re basically training customers to wait for a lower price before buying– a bad habit.
There are many better ways to drum up business, especially during your slow season. Rather than simply offering discounts, John Jantsch of Duct Tape Marketing suggests thinking of some combination of the following offers:
- Exclusive and private members-only discount sale days
- Community-building events that include the entire family
- Early hours just for current customers, where they get first crack at the newest stuff
- Credits and/or discounts for referrals and passing out gift certificates
- Promotion with a non-profit partner that donates a portion of sales during an exclusive event (you can probably find a way to work this into one of the non-profit’s events).
This approach is much classier than simply lowering prices. First, as Jantsch points out, it rewards your good clients. Plus it motivates prospects to become clients, because they see they get lots of unique benefits when they do.
By the way, this approach isn’t only for retailers. It can work just as well for B2B and even service businesses. So — what are your plans for a summer promotion?
By the way, if you need some professional help writing the copy… 😉