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Pros​ ​and​ ​Cons​ ​to​ ​Discounts After​ ​all​ ​this​ ​information,​ ​I​ ​feel​ ​compelled​ ​to​ ​give​ ​you​ ​some​ ​pros​ ​and​ ​cons​ ​to​ ​discounts.​ ​The​ ​con I​ ​have​ ​to​ ​discounts​ ​is​ ​pretty​ ​simply:​ ​don’t​ ​overuse​ ​discounts.​ ​Our​ ​good​ ​friend​ ​Chris​ ​Lema​ ​is actually​ ​completely​ ​against​ ​them,​ ​saying​ ​discounts​ ​just​ ​don’t​ ​work.​ ​While​ ​we​ ​reserve​ ​a somewhat​ ​more​ ​moderate​ ​opinion​ ​for​ ​ourselves,​ ​we​ ​do​ ​completely​ ​understand​ ​where​ ​he’s coming​ ​from. There’s​ ​a​ ​risk​ ​to​ ​(back-to-back)​ ​discounts.​ ​The​ ​risk​ ​that​ ​people​ ​get​ ​used​ ​to​ ​not​ ​paying​ ​full​ ​price in​ ​your​ ​store.​ ​That’s​ ​why​ ​I’m​ ​telling​ ​you​ ​to​ ​be​ ​careful​ ​with​ ​discounts.​ ​Don’t​ ​give​ ​away​ ​discounts too​ ​regularly​ ​or​ ​too​ ​often.​ ​Especially​ ​if​ ​you’re​ ​offering​ ​a​ ​single​ ​service​ ​or​ ​just​ ​a​ ​few​ ​products​ ​(as

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we​ ​do),​ ​discounts​ ​could​ ​backfire​ ​on​ ​your​ ​overall​ ​sales.​ ​Think​ ​about​ ​why​ ​you​ ​should​ ​give​ ​a discount​ ​on​ ​which​ ​product.​ ​And​ ​when. New​ ​customers Obviously,​ ​discounts​ ​have​ ​a​ ​major​ ​benefit​ ​as​ ​well:​ ​discounts​ ​will​ ​attract​ ​new​ ​customers.​ ​Giving people​ ​a​ ​discount​ ​might​ ​just​ ​be​ ​the​ ​thing​ ​to​ ​draw​ ​them​ ​in​ ​and​ ​become​ ​your​ ​customer.​ ​And​ ​new customers​ ​mean​ ​new​ ​opportunities​ ​for​ ​cross-sells​ ​and​ ​upsells,​ ​meaning​ ​more​ ​revenue​ ​in​ ​the long​ ​run​ ​as​ ​well. Discounts​ ​for​ ​existing​ ​customers Discounts​ ​are​ ​not​ ​only​ ​a​ ​way​ ​to​ ​acquire​ ​new​ ​customers,​ ​they’re​ ​also​ ​a​ ​way​ ​to​ ​show​ ​your gratitude​ ​to​ ​your​ ​existing​ ​customers.​ ​What​ ​better​ ​way​ ​to​ ​show​ ​that​ ​gratitude​ ​to​ ​your​ ​most valuable​ ​customers​ ​than​ ​to​ ​give​ ​them​ ​a​ ​discount.​ ​Giving​ ​discounts​ ​can​ ​come​ ​in​ ​the​ ​form​ ​of sending​ ​your​ ​best​ ​clients​ ​a​ ​free​ ​product,​ ​a​ ​discount​ ​code​ ​or​ ​whatever​ ​else​ ​you​ ​can​ ​think​ ​of. These​ ​discounts​ ​or​ ​gestures​ ​don’t​ ​actually​ ​have​ ​to​ ​be​ ​that​ ​big​ ​to​ ​make​ ​someone​ ​appreciate​ ​the effort.​ ​In​ ​fact,​ ​the​ ​customer​ ​won’t​ ​only​ ​appreciate​ ​it,​ ​the​ ​customer’s​ ​behavior​ ​will​ ​actually​ ​change as​ ​well!​ ​It’s​ ​as​ ​they​ ​say:​ ​it’s​ ​the​ ​thought​ ​that​ ​counts.

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