When people think of your brand, do you want them to remember what you cost, or how you made them feel?
The TLDR version: NEVER DISCOUNT, ALWAYS UPGRADE. It's easy when you know how...
Whether your products are $20 or $2,000, clients valued being valued. And as a business, which sentence do you want coming from a client's memory:
"I got this cool jacket for 20% off! I will wait for the next sale to get another one."
or
"Look at this gorgeous scarf that I received with this jacket purchase! They have these in others colors too- I need more!"
When you give added value that draws a client deeper into brand fandom, you stick out far more than a discount. The LAST thing you want is for people not to see your brand being worth it's regular rates. So- how do you upgrade the experience...? Here are three tips that keep money in your pocket and clients coming back.
1) ADD ONS. When we owned a winery/brewery tour company- we would add a beverage credit at the first stop. Esp with high ticket tours- they don't need discounts- they want exclusivity and to feel special!
PRO TIP: We set it up so the retail value was typically less than 8% of the tour cost, so plan wisely to make it add to the experience without hitting you in the pocket.
PRO PRO TIP- our industry or military veteran special rates saved us even more- don't forget to leverage that!
2) BRING IN OTHERS. The venues LOVED that we incorporated a purchase from them into our special offer, and often went above and beyond for our tour guests, and appreciated us over other tour vendors! It resulted in shared and cross-promoted social media post, and stronger relationships with multiple partners in wine and stein. Who do you work with that could be a strong cross promotion opportunity?
Offer a gift card from that adjacent local business- choose one you trust to give great guest service, AND shares your audience for awesome cross referral opportunities!
PRO TIP: Always let others know when you are promoting them so they can be
part of the promotion, and prepared to give VIP status to YOUR clients... WIN. WIN.
PRO PRO TIP: Make the gift card value based on the client purchase amount,
and even discuss splitting the cost with said local biz!
3) NOTHING TO ADD TO YOUR PRODUCT OR SERVICE? Not a problem- go philanthropic!
Offer a donation to a favorite local charity for each purchase made. Be sure they know about it and ask them to spread the word to their supporters. What charity would turn down the opportunity to be supported by a local biz?
PRO TIP: Be sure the organization is in sync with your morals and in good standing, not just popular. They could become future partners for philanthropic marketing campaigns that go beyond basic fundraisers!
Imagine NOT having to give away the farm to every non profit that asks for donations...
that's a WHOLE 'nother post for 'nother day.
But if you want that strategy customized for your biz NOW... get on my calendar.
UPGRADE the EXPERIENCE. Don't discount the price. Sure you spend some money to grab attention- that's the cost of marketing and it's not negotiable. But the WAY you spend it matters.
Be memorable for your brand and experiences you create- not your prices- and you will create minions who make you MILLIONS. Need help with this...? Get on my calendar and let's GROW!
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