To discount or not to discount?

You can’t move for a Black Friday deal right now, and even without this two-three weeks of discounted products and services all over the internet, the issue of discounting is problematic at best, divisive at worse for small business owners.

Some business coaches will tell you NEVER DISCOUNT YOUR SERVICES, and heres what I think about that.

BULLSHIT!!!!

In business, in all business there are premium brands and there are not so premium brands, there are the Pradas of the world, and there are the Primarks, but also there are those brands who are somewhere on the scale somewhere in between, like Puma, Phat Farm, Patagonia, Panache….and each of those fashion brands will have their own strategy around discounting, as should you.

The main thing which comes up I think is the concept of fairness.

  • Is it fair for some people to pay more than others?
  • Is it fair to out price other people in your market?
  • Is it fair for people to pay less for a product that is worth more?
I think there is another point though, is it fair for the BIG BOYS (or girls) of business to dictate your rules of engagement?
 

My brand is an accessible, vibrant, ever-evolving brands and YES I do offer discounts.

  • I discount for paying in full for my longer term masterminds
  • I discount for early adopters, folks who are taking a risk because a product or service isn’t tried and tested
  • I discount if I am retiring a product or service
  • I discount by offering occasional BOGOFs (often for my running community so they can bring a friend for FREE)
  • I discount for specific events or communities, if I am speaking at an event for example I may offer an event only discount
I DO NOT OFFER DISCOUNTS JUST BECAUSE SOMEONE ASKS….OR IF THEY JUST CAN’T AFFORD MY SERVICES
 
My fav way of offering discounts is by doing presales, while testing new things. I am developing a new product at the moment, and while in creation mode I have sold 40 bundles at $39.
 
What this does is help me create some buzz, generate some cash ($1300+), while also validating and tweaking the sales process, messaging and product.
 
It creates a win win for everyone.
 
You can still purchase the Activate Your Audience™️ Bundle for just $39 before the price goes up next week….it even comes with a LIVE sales training week worth £149, where we did into pricing psychology and how to do sales without the ick, even more.
 
Some gurus and pricing strategists say never compete on price, compete on value…I say do what works for you.
 
YES, you need to make sure that you are not undervaluing yourself…but business can be fun, and of the moment….just because you buy lots of products or even things for your business, it doesn’t make you a consumerist, naive or a bad person…sometimes putting your hand in your pocket and committing to something that requires payment, is the thing which moves you forward.
 
Last year I discounted one of my lowest cost programmes in my running business and got 600 women taking part instead of the 100 or so I’d normally have. The result? About the same amount of income…but 500 more raving clients and a more vibrant challenge group. It really gave a new lease of life to that business, and I may well do the same thing this January.
 
I love a discount myself. But I happily pay full price for things too, and never get too annoyed if ever they then go down in price…it’s just the way of the world.
 

But where does this leave you as a consumer dealing with all of the discounts out there?

These are the top3 questions I ask myself before buying something
 
  1. Do you need it – Seriously ask yourself am I going to use this product or service, is it going to help me NOW?
  2. Does it represent value for money – Even at the higher price, or has the higher price just been made up?
  3. Can I quantify the return on my investment – And remember you still have to do the work, buying things in and of itself for your business (or life) does not automatically improve it do 

One of my clients from my Unstoppable Mastermind was umming and ahhhring last week about offering a discount this month for all the same reasons you probably do, anyway she’s gone with it and made almost £3000, with a few hours left of her 48 flash sale…on a service she has to run anyway, and makes no difference if one person shows up or 400….and this in no way discredits her main VIP service.

Good luck out there people, and you do you. Don’t listen to the folks who have opposing views to you…send them love, and then crack on with doing your thing.

Happy Shopping, and Happy Selling

 

my black friday "all in" offer

Go Big or Go Home is my business growth incubator, the next round opens it’s doors officially in mid January, but I have a brilliant early adopter discount for anyone who registers before the 1st December

What does it include…

  1. A place on my GO BIG or GO HOME Business Growth Incubator, worth £997+VAT (Jan – Mar 22)
  2. A 90 minute 121 strategy call with me, worth £400+VAT
  3.  Audience Builder Bootcamp Lifetime Only Programme, worth £379+VAT
  4. The Activate Your Audience™️, (plus all bonus’s) worth £600-£1000+VAT
  5. A place on Decembers Big Fat Sales Challenge worth £149
  6. My Kinda People, Ideal Client Bundle (in development), worth £97+VAT
  7. A signed copy of Leading From The Back (Priceless lol…or £12.99 from Amazon without being signed)
And all for just £500+VAT before the 1st December. To claim this discount just drop an email to julie@juliecreffield.com and I’ll send you an invoice. 

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