Reader's question (and discounting)
I got a reply to yesterday's post from someone who was confused as to why I had been dropping my prices during a high demand season.
And as luck would have it, it ties in with what I wanted to share with you about discounting.
Why would I discount at Xmas time?
Surely high demand means putting prices UP if anything?
Higher demand should mean putting your prices up.
But the demand for my corporate after dinner market is very low at this time of year.
During the Crimbo party season I have to change markets, from corporate awards and conference which has a certain price point, to Christmas Party market.
You shouldn't discount in your market though.
In fact as someone I follow says: "If you only make sales by discounting should shouldn't be in sales. You should be on reception, because you just like making people happy"
Interesting perspective, ey?
The big skill to learn is how to make sales without discounts.
Once I mastered that I truly broke free of the pricing trap.
- Ken 'Discount Discounts' Dyne