The $100 MBA Show MBA2071 How to Discount Your Product While Maximizing Revenue
Can lower prices = more revenue? Sure — but only if you do it right.
Yes, we spend a lot of time on this podcast advocating for higher prices. “Who can charge the least?” is a race to the bottom that no one wins (unless you’re Wal-Mart). But in certain contexts, a discount can be an investment in your business’ growth.
Today, we explain how.
We’ll discuss when it’s time to offer a discount, and how to execute a discount in a way that makes money in the long term (even while sacrificing some in the short term). It’s all about mastering the art of “value pricing” without slipping into constant discount mode.
Hear our golden rules for offering discounts, and why just the right amount of price-cutting can be a boon. Click Play!
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