Never discount

Never discount

Let me start with the most important message when it comes to pricing your services: “Never discount. Never discount. One more time, never discount.” The increase in the volume of sales you’d have to generate to cover the loss of margins – even with a 1% discount – is huge.

Any instances where you offer a special price should be part of your strategic sales plan. These may include a product launch or excess stock. Because these are time-dependent. But when it comes to your core product, simply don't do it.?

Read more in my recent blog on ‘Charging what you’re worth’ here: https://www.quality.com.au/media/blog/charging-what-youre-worth

#discounts #sales #businessadvice

?

Jane Tweedy

Helping people who do the right thing do it right | Small Business Coach (PCC) and Trainer | Speaker & Facilitator

1 年

I'd like to challenge your thinking on this one John ?? Businesses like Kathmandu and Udemy have built their businesses on a strategy of discounting (Kathmandu call it their high low strategy). Kathmandu continues to grow https://www.smartcompany.com.au/business-advice/innovation/how-kathmandu-achieved-its-massive-27-profit-increase-and-what-you-can-learn-2/ I 100% agree never discount without a clear underlying strategy. Decide upfront if your brand will offer sales and discounts, and if so when and how (like you say obsolete products or launches only, or across the board), and most importantly build it into your cost structure. There are great times to discount as part of a well thought out strategy, so no not never, rather selectively and consciously.

回复

要查看或添加评论,请登录

John Mason, GAICD的更多文章

  • ISO Nerd Topic: Audit Findings – Part 1

    ISO Nerd Topic: Audit Findings – Part 1

    Did you know that every certification body uses a different format for reporting your 3rd party audit results and…

    1 条评论
  • Documented Information Part 2

    Documented Information Part 2

    The annex to ISO 9001 (A.6) says that "Where ISO 9001:2008 would have referred to documented procedures .

  • Documented Information – Pt 1

    Documented Information – Pt 1

    According to ISO themselves, two of the most important objectives in the revision of the ISO 9001:2015 are: a) to…

  • Certification Entry/Exit Meetings

    Certification Entry/Exit Meetings

    Entry Meeting Every audit should start with one. Why? So that the scene, the scope, and the intents can be set.

  • Competence

    Competence

    Last century, there was one clause called training. This has been replaced by four.

  • Precertification Process Part 2

    Precertification Process Part 2

    Document Reviews This is normally the first stage of the certification process (or the second if you count your…

  • PRECERTIFICATION PROCESS PART 1

    PRECERTIFICATION PROCESS PART 1

    When choosing your certification body be sure to read and understand the stage 1 and document review requirements. Each…

  • Awareness

    Awareness

    Another clause without a requirement for documented information. Neither maintained nor retained (we remember the…

  • Documented Information

    Documented Information

    I have written a few times about this topic, and I just love revisiting one of the fundamentals, so let’s go. The…

  • How much are certification audits?

    How much are certification audits?

    Fees vary greatly! Certification fees are dependent on the size and complexity of your organisation, the type and…

    2 条评论

社区洞察

其他会员也浏览了