Episode 40: The Downside of Discounting (& What To Do Instead)
Many brands default to discounting as the "easy button" for juicing their online sales, but doing this too often can put you on a price-cutting hamster wheel that is increasingly difficult to get off of.
In this episode, Ryan and Jon talk about the psychology behind discounts, why they are so attractive to consumers, and how you can achieve similar results with alternative strategies that don't undermine the value of your products or position you as a "bargain brand."
Listen to the full episode if you want to learn:
Why discounts are so compelling for consumers
The downsides of habitual discounting for your brand
When discounts are the correct pricing strategy to use
Alternatives to discounting that work just as well
How to assess and improve your current pricing strategy
If you have questions, ideas, or feedback to share, hit us up on Twitter. We're @jonmacdonald and @ryangarrow.
Many brands default to discounting as the "easy button" for juicing their online sales, but doing this too often can put you on a price-cutting hamster wheel that is increasingly difficult to get off of.
In this episode, Ryan and Jon talk about the psychology behind discounts, why they are so attractive to consumers, and how you can achieve similar results with alternative strategies that don't undermine the value of your products or position you as a "bargain brand."
Listen to the full episode if you want to learn:
- Why discounts are so compelling for consumers
- The downsides of habitual discounting for your brand
- When discounts are the correct pricing strategy to use
- Alternatives to discounting that work just as well
- How to assess and improve your current pricing strategy
If you have questions, ideas, or feedback to share, connect with us on LinkedIn. We're Jon MacDonald and Ryan Garrow.
