Breaking news: Discounts should NEVER be something you do to boost your sales!
As a premium brand, you should only be giving discounts to your clients and customers if you really WANT to, not because you think you HAVE to to generate income. If you’re constantly slashing prices or offering services at far below market pricing for your upscale brand, you can hurt your placement as a premium service, and you may not be able to recover offering your services at the pricing they truly deserve.
This is not to say that you can’t still benefit from the fast cash injections that your business enjoys when you launch new services or offerings, because you CAN! You’ll benefit even more when you’re able to sell at prices that reflect your luxury level brand and allow you to profit and grow as a business.
So let’s dive into 6 ways to boost your sales without defaulting to discounts:
- Reach Out to Your Warm Market
This may seem obvious, but supporting those who have invested in you, engaged with you, or worked with you before will pay multiple dividends in repeat and referral business without you slashing any prices or sacrificing your premium brand.
2. Create a Special Offer ONLY For Past Clients or Customers
Those who have successfully partnered or worked with your business and programs before are likely to do so again! Take a look at your past clients and build an offer that supports the next steps that those clients are ready to take.
3.Look At the Calendar
Is there a special holiday/event coming up that you can use to grow your brand awareness? Maybe your birthday is coming up and you can use that as a reason to launch a new offer or service and create an ‘exclusive’ or limited time offer for your warm audience to take advantage of. While these terms are both promotional, they do not offer any discounted prices, leaving the profits in your pocket to grow your business.
4. Create a Downsell Offer
Maybe your business offers a premium service with tons of incredible deliverables and personal touchpoints. But maybe some in your audience aren’t quite ready to commit to such a big program or investment, so you can take pieces from your larger offering and create bite-sized offerings to new clients at a smaller price so that they can get a taste of what it’s like to work with you. You’ll still receive cashflow from pieces of your main program while building a larger warm audience who will be likely to continue to invest in your business.
5. Create an Upsell Offer
On the other side of the coin, sometimes your clients are going to want a little more personalized experience and more support in reaching their goals. Now it’s time to consider how you can create an even more VIP or premium experience. Perhaps you provide a more personalized roadmap for the client, or carve out more time for personal communication and guidance, or even add an additional ‘VIP Day’ in your big ticket program.
6. Create an Online Event
This doesn’t mean you need to create something new, but as simple as going live and teaching your audience something that positions the value of what you can do for them and their business. It’s not about recreating the wheel, but about being increasingly creative about how you present your brand and the value your programs or services provide.
I hope these tips are helpful and can get your business moving in a profitable direction! If you’re using any of these tips I’ve mentioned, or maybe have other ways you’ve increased your sales without discounting your services, I’d love to hear about it in the comments below!
👋🏼 First time here? Thanks for stopping by! I’m Emmy, Storyteller + Strategist who helps coaches & creative entrepreneurs to elevate their online presence, and streamline their operations to increase their impact.
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