If you ask my clients they’ll tell you that “Discount” is number one on my list of dirty words.
BUUUUUTTTTT there comes a point in time in business where you want to incentivize buyers to take action and because “money talks” one of the easiest ways to incentivize buyers is by price.
So here are 5 Ways to give a discount without damaging your premium positioning
1. Loyalty Rate: if someone has bought from you before you can offer them a lower “loyalty rate” if they buy from you again.
2. Pilot Rate: running a program or selling a course for the first time? Get people in with a pilot rate that is less than the RRP. Make it clear that you’ll need a testimonial or review that you can use publicly in exchange for them paying less.
3. Fast Action Bonus: At the end of your sales calls offer a fast action bonus to minimise the I need to think about it” response. Try saying like this. “Of course you can think about it, I just want to remind you though that if you can say Yes now you’ll save X amount. Mind you the program is totally worth it at full price.”
4. Pay in Full Bonus: Similar to the Fast Action Bonus but it encourages clients to pay in full right at the start of coaching with you.
5. Time Specific Offer: If you’re running a promotion or sale make it time specific instead of number specific. For example “ a September special offer” rather than “the first 10 people to buy”
This works because
Your parameters are set and clear
Your buyers feel part of a special club
You can still sell your services at the full rate