Entrepreneurs on Fire Stop Discounting and Instead Use Value-Add-Incentives with Marco Torres: An EOFire Classic from 2021
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Feb 23, 2025 Marco Torres, Co-founder of MarketingBoost.com and expert in incentive-based marketing, shares his game-changing insights on boosting business sales without resorting to discounts. He emphasizes the dangers of discounting, which can severely erode profits. Instead, Marco advocates for value-add incentives like hotel stays and restaurant vouchers to engage customers and enhance lead magnets. He highlights gratitude's importance in business and reveals innovative travel incentives that successfully attract and retain clients while maintaining profit margins.
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Start with Gratitude
- Start each morning with gratitude for being alive and feeling blessed.
- This positive mindset provides energy and focus for the day's tasks.
Avoid Discounting
- Many business owners lower prices to compete, but this can hurt profits.
- Instead, focus on a unique selling proposition to stand out.
Impact of Discounting
- Discounting 10% on a 20% profit margin requires double the sales to maintain profit.
- A business selling $1000 of product making $200 profit will only make $100 with a 10% discount.
