22 min
3 Reasons Why Discounting Is Destroying Your Sales (And What To Do Instead) Jereshia Said
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- Entrepreneurship
Enjoying the episode? Send me a text message ❤️
Have you set a premium price for your signature service? If so, do you think it’s a good idea to dilute your services or offer discounts to get potential clients through the door?
Breaking your signature service into little bits and pieces may seem like a good idea. It allows you to offer more products at lower price points. However, it’s not providing clients with the entire process. And the truth is: discounting your prices can destroy your sales in the long run.
In today’s episode, I’m going to be diving into the three reasons why discounting can cause you harm and what you should be focusing on instead.
Key Highlights of the Episode
This episode was extremely actionable and insightful. Here are a few key highlights:
Conveying confidence - If you’re discounting prices then you need to consider the message you’re sending to potential clients. By cutting prices, you’re suggesting that you’re not 100% confident that you can deliver the results you’re promising.Cutting into profit - Your job as a business owner is to generate cash flow and discounting reduces profit. Furthermore, if you’re slashing prices then you may start to resent clients that are giving less than they’re getting. Help prospects understand your value - How do you communicate a value that lets prospects know exactly what their return on investment will be? If they can’t see your true value then it’s your job to help them to see it.Enhance your positioning - If you’ve raised your rates then your positioning needs to be crystal clear. What makes you uniquely different from the competition? Your marketing needs to overcome the majority of sales objections before you get on a sales call.Believe in yourself - If there’s a part of you that lacks confidence then you have to stop making decisions based on fear and discomfort. If you’re selling a high-ticket item then you’re someone who knows the value you bring to the table… So start acting like it. Start believing in yourself!And lots more! Tune in now.
If you’re booked out with private 1:1 clients, ready to raise the price of your successful digital course or want a new revenue stream beyond retainer clients, I invite you to apply.
Click here to learn more and apply today.
Also, if you haven’t done so already, subscribe to the podcast. I’m adding a bunch of bonus episodes to the feed and, if you’re not subscribed, there’s a good chance you’ll miss out.
Subscribe now!
Do you get Jereshia's weekly Off The Clock [OTC] email, sharing behind the scenes of how she's recovering from being a workaholic? Subscribe today! https://jereshiahawk.com/insider
Watch the podcast on YouTube: https://www.youtube.com/@jereshiasaid/videos
Stay connected and follow Jereshia's journey on Instagram: www.instagram.com/jereshiahawk
Enjoying the episode? Send me a text message ❤️
Have you set a premium price for your signature service? If so, do you think it’s a good idea to dilute your services or offer discounts to get potential clients through the door?
Breaking your signature service into little bits and pieces may seem like a good idea. It allows you to offer more products at lower price points. However, it’s not providing clients with the entire process. And the truth is: discounting your prices can destroy your sales in the long run.
In today’s episode, I’m going to be diving into the three reasons why discounting can cause you harm and what you should be focusing on instead.
Key Highlights of the Episode
This episode was extremely actionable and insightful. Here are a few key highlights:
Conveying confidence - If you’re discounting prices then you need to consider the message you’re sending to potential clients. By cutting prices, you’re suggesting that you’re not 100% confident that you can deliver the results you’re promising.Cutting into profit - Your job as a business owner is to generate cash flow and discounting reduces profit. Furthermore, if you’re slashing prices then you may start to resent clients that are giving less than they’re getting. Help prospects understand your value - How do you communicate a value that lets prospects know exactly what their return on investment will be? If they can’t see your true value then it’s your job to help them to see it.Enhance your positioning - If you’ve raised your rates then your positioning needs to be crystal clear. What makes you uniquely different from the competition? Your marketing needs to overcome the majority of sales objections before you get on a sales call.Believe in yourself - If there’s a part of you that lacks confidence then you have to stop making decisions based on fear and discomfort. If you’re selling a high-ticket item then you’re someone who knows the value you bring to the table… So start acting like it. Start believing in yourself!And lots more! Tune in now.
If you’re booked out with private 1:1 clients, ready to raise the price of your successful digital course or want a new revenue stream beyond retainer clients, I invite you to apply.
Click here to learn more and apply today.
Also, if you haven’t done so already, subscribe to the podcast. I’m adding a bunch of bonus episodes to the feed and, if you’re not subscribed, there’s a good chance you’ll miss out.
Subscribe now!
Do you get Jereshia's weekly Off The Clock [OTC] email, sharing behind the scenes of how she's recovering from being a workaholic? Subscribe today! https://jereshiahawk.com/insider
Watch the podcast on YouTube: https://www.youtube.com/@jereshiasaid/videos
Stay connected and follow Jereshia's journey on Instagram: www.instagram.com/jereshiahawk
22 min