Last issue, we discussed 2 ways your sales can go bad quick and started by sharing Jane’s experience of a 50% profit decrease with a 15% off discount (eek!).
Today, let’s talk about things to consider when planning your next sale.
First, is your business ready for a discount/sale – whether from new or existing customers and clients?
- Are your Extreme Client Care™ Team and practices ready for an influx of requests/follow-up? If you’re a solo business owner, are you ready to put in extra hours or outsource assistance to ensure your clients are taken care of?
- Can you meet the demand either of your time or the products you’re offering? (Groupon offers have put small businesses out of business when they couldn’t meet the demand generated and old/new customers went away unhappy.)
- Have you fully tested your sales process, including affiliate systems as appropriate? (Note: A recent major player in online marketing “assumed” something about their affiliate system, they were wrong and are currently dealing with the repercussions of wiping out all affiliate data on a big promotion.)
Once your business is ready, it’s time to consider the sale itself:
- WHY are you offering the discount? (See post on “reasons”.)
- How will you let clients know this is a limited event, not the norm? You don’t want to be perceived as that store which is always having a “going out of business” promotion so that no one invests with you unless it’s at the discounted rates.
- Can you create a special offer/package just for this discount? Similar to how restaurants offer special meals that aren’t always on the menu.
- Instead of discounting the price, what about adding on value?
- Whatever time limit you put on your event, stick to it. Don’t keep extending as it lowers your credibility.
And, as with all things, remember who your audience is and offer programs, products and services which solve their problems and fulfill their wants. Do that and you’ll be miles ahead of your competition.
Questions? Simply scroll down and comment. I’m happy to answer them.