1 / 4

Everyone loves a discount, or do they?

Discover strategies to enhance loyalty without heavy discounting.<br><br>https://www.martechcube.com/rethink-discount-driven-sales/

martcehcube
Download Presentation

Everyone loves a discount, or do they?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Everyone loves a discount, or do they? Martechcube

  2. We live in a world of discounts in 2023. No sooner have the ads been screaming at us about Black Friday and Cyber Monday, then it’s Christmas, Easter, Labor Day and so on and so forth. No one can argue that we love a discount. Why not take the opportunity to get something for less, so we have bragging rights at the office or dinner table. However, from a business owner’s perspective, especially an SMB, getting discount happy and expecting to run your whole operation on this basis can be incredibly dangerous for long-term profitability and indeed customer loyalty. You run the risk of being just like everybody else, a commodity, and forcing your customers into a ‘wait and see’ approach to buying ONLY when discounts are available. There is another way to approach this – in fact – there are many ways, and they all come back to being focused on the customer and understanding them. In recent years, the power and attention on e-commerce has been growing – some 25% of all purchases are now done online

  3. A new trend in online commerce – Customer Commerce – is the idea of putting technology back into a supportive role, simplifying your customer data into a single source of truth, and opening up ways to scale your online business. However, with Customer Commerce, this simple single source of truth approach allows you to get closer to your customers – putting more of your staff resources into servicing them personally. One idea to consider instead of event-based discounting like Black Friday or Cyber Monday – why not offer a private, personal discount to a loyal customer based on a purchase milestone? Many brands around the world refuse to discount, or they might discount accessories but never their popular gold standard product. Think Tiffany’s, Apple, Chanel. Sure, your small business may not have the brand cachet of these high fliers, but you have something that a lot of big companies would kill for – customer understanding. You can use your superpower to understand customers better and service them better.

  4. For more such updates, follow us on Google News Martech News -Martechcube

More Related