If cutting prices is your go-to sales move, you’re in for trouble.
It’s Q&A Wednesday, and we’ve got an online coach and course creator who wants to boost sales, but doesn’t want to devalue the product. And we couldn’t agree more!
Discounting is a strategy of last resort. It has a rapidly approaching point of diminishing returns. In other words, it’s not a good long term approach. It’s a race to the bottom.
In this episode, we’ll share some consumer psychology 101, and explain why profitable pricing isn’t the sales obstacle people think it is. Then, we’ll offer a few specific ways to package and present offers that sell on the product’s merits, not ease on the wallet.
Your product or service is worth what it’s worth. Don’t be afraid to charge accordingly! By showing your leads what they’re getting for their money — and putting the numbers in context — you can hold prices firm. Click Play!
To submit your questions, visit 100mba.net/q.
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