As entrepreneurs, we have a goal of attracting our ideal customers.
Because we are looking for a high return on our investment.
But have you ever offered that one-time discount to attract new customers?
One where we state our list price and then the discount if they choose to take advantage of a one-time offer.
We may try this to get new customers to try our product or service and to get satisfied customers to become more loyal customers so they stay with us.
We also want follow on purchases to make up for lost profits as we hope for repeat purchases.
But what type of customers do we sometimes attract when we do this?
Customers looking for a deal?
Customers who need to receive a discount to feel good about the purchase?
The customers we do not attract doing this are the ones that are not price sensitive
And those that likely incorporate non-price factors into their decision making process.
These factors could include relationship, quality, service, convenience, and other intangible factors.
So by discounting our product, we can actually attract a customer that will continue to look for the next deal and then move on.
Do you agree?
Have you had success with discounting your product and retaining that customer?