EPISODE · May 20, 2021 · 26 MIN
Discounts Don't Buy Loyalty. (Here's What to Do Instead)
from The StorySelling Podcast · host Sixteen Ramos
Do you love discounts? In marketing, it's a sure-fire way to encourage quick purchases. But when it comes to building customer loyalty, is it the best way? 🤔 When customers are extremely aware of what it means to "get what you pay for", does discounting really help you elevate your brand? Or does it do the opposite? Let me tell you this: if you want to build LOYALTY, your efforts have to go beyond the discount. What else can you do? Well, let me give you a list! Watch this training and tag everybody! 🙌 --------------------------------------------------- StorySelling Masterclass 2.0 is now OPEN FOR ENROLMENT! Apply here: https://sixteenramos.com/storyselling-masterclassThis 12-week is the only content marketing program that helps you DOUBLE your revenue through story and sales psychology. 30+ videos and 9 modules that show you how to:- Dominate your niche- Position an irresistible offer- Build a magnetic brand- Eatablish an automated & high-converting sales funnel - Attract, engage, and convert organically with StorySelling-infused content- Implement a strong and cohesive marketing plan while having a team behind you to help you gather data and make improvements This course is done-with-you with a done-for-you elements:- We generate 12 weeks of on-brand content for your business - We write copy that's packed with personality- We build your funnel whether you have a product or a service-based business- We create your very own brand kit so you can stay consistentBe part of a community of 100+ students that have made $10M in total revenue. Apply for the Masterclass: https://sixteenramos.com/storyselling-masterclassOnce approved, you'll get on a 45-minute 6-Figure Action Plan Call where we map out the profit blueprint for your business!During the call, we'll:- Draw out a complete roadmap to consistent sales, aligned with your targets- Establish a marketing strategy you can implement today- Identify the gaps in your marketing and determine a fix so you can start doing more of what works!It's a fun call where we go over some math, light numbers, and custom planning! See you there!TIMESTAMPS & HIGHLIGHTS:00:30 - Discounting Discussed03:35 - Reasons for Discounting Product03:39 - Impulse Buy Trigger04:35 - Drives Traffic05:10 - Get ahead of the competition05:54 - Match Competition Prices06:20 - Loyalty07:15 - What happens When You Rely On Discounts08:15 - Why Shouldn't You Reply On Discounts As A Marketing Tactic08:50 - Lowering Your Prices Hurts Your Profit10:05 - Lowers Perceived Value Of Your Product12:14 - What Else Is There To Give When The Holidays Come13:40 - Ideas To Go Beyond The Discount13:43 - Provide Better Experiences14:37 - Rewards15:15 - Personalized Recommendations16:36 - Ease Friction18:41 - Show Quality
What this episode covers
Do you love discounts? In marketing, it's a sure-fire way to encourage quick purchases. But when it comes to building customer loyalty, is it the best way? 🤔 When customers are extremely aware of what it means to "get what you pay for", does discounting really help you elevate your brand? Or does it do the opposite? Let me tell you this: if you want to build LOYALTY, your efforts have to go beyond the discount. What else can you do? Well, let me give you a list! Watch this training and tag everybody! 🙌 --------------------------------------------------- StorySelling Masterclass 2.0 is now OPEN FOR ENROLMENT! Apply here: https://sixteenramos.com/storyselling-masterclassThis 12-week is the only content marketing program that helps you DOUBLE your revenue through story and sales psychology. 30+ videos and 9 modules that show you how to:- Dominate your niche- Position an irresistible offer- Build a magnetic brand- Eatablish an automated & high-converting sales funnel - Attract, engage, and convert organically with StorySelling-infused content- Implement a strong and cohesive marketing plan while having a team behind you to help you gather data and make improvements This course is done-with-you with a done-for-you elements:- We generate 12 weeks of on-brand content for your business - We write copy that's packed with personality- We build your funnel whether you have a product or a service-based business- We create your very own brand kit so you can stay consistentBe part of a community of 100+ students that have made $10M in total revenue. Apply for the Masterclass: https://sixteenramos.com/storyselling-masterclassOnce approved, you'll get on a 45-minute 6-Figure Action Plan Call where we map out the profit blueprint for your business!During the call, we'll:- Draw out a complete roadmap to consistent sales, aligned with your targets- Establish a marketing strategy you can implement today- Identify the gaps in your marketing and determine a fix so you can start doing more of what works!It's a fun call where we go over some math, light numbers, and custom planning! See you there!TIMESTAMPS & HIGHLIGHTS:00:30 - Discounting Discussed03:35 - Reasons for Discounting Product03:39 - Impulse Buy Trigger04:35 - Drives Traffic05:10 - Get ahead of the competition05:54 - Match Competition Prices06:20 - Loyalty07:15 - What happens When You Rely On Discounts08:15 - Why Shouldn't You Reply On Discounts As A Marketing Tactic08:50 - Lowering Your Prices Hurts Your Profit10:05 - Lowers Perceived Value Of Your Product12:14 - What Else Is There To Give When The Holidays Come13:40 - Ideas To Go Beyond The Discount13:43 - Provide Better Experiences14:37 - Rewards15:15 - Personalized Recommendations16:36 - Ease Friction18:41 - Show Quality
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Discounts Don't Buy Loyalty. (Here's What to Do Instead)
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