Office Hours | Discounting
If you’ve been listening to the podcast for any length of time, then you know that we’re not fans of discounting.
Here are some of the reasons why discounting is bad news for your business:
- Customer Acquisition Costs (CAC) are increasing across the board.
- Discounting creates a race to the bottom in your industry.
- Pricing too low attracts the wrong customers.
- Selling cheap products tarnishes your brand.
What should you do instead? Differentiate yourself with these strategies:
- Tell your story. Share your essence.
- Create unique offerings in your niche.
- Bundle! Keep the price the same, but add something extra to it.