{"id":7488,"date":"2010-12-14T07:00:31","date_gmt":"2010-12-14T12:00:31","guid":{"rendered":"http:\/\/37d57f8fa2.nxcli.io\/blog\/?p=7488"},"modified":"2010-12-14T08:32:50","modified_gmt":"2010-12-14T13:32:50","slug":"discounts","status":"publish","type":"post","link":"https:\/\/www.marketingforsuccess.com\/blog\/lead-generation\/discounts\/","title":{"rendered":"Which Discounts Generate Profits…"},"content":{"rendered":"
{!name},<\/div>\n
When it came time to pay the bill for dinner I must admit, I felt a foolish.<\/div>\n
There I was handing over a $10 discount coupon for a bill that was $190 but I had to admire the marketing savvy of the restaurant owner.<\/div>\n
A few nights before, my wife had been conferring with our good friends Leslie and Will and Leslie offered to pick the restaurant and make the reservation.<\/div>\n
Like us, Leslie is always interested in trying new places and she had a $10 coupon for Tendga, an Asian restaurant across town in Greenwich.<\/div>\n
We knew we were taking our chances with a new restaurant but it turned out both the food and service were first rate. My only complaint was the techno music blaring from the bar.<\/div>\n
Which brings me back to the math.<\/div>\n
The restaurant owner spent money on a mailing to selected homes in Greenwich, CT offering $10 off. That\u2019s right, just $10 off in a town where the average home sells for a million dollars.<\/div>\n
The result was that he generated at least one sale of $200 and given that we\u2019ll be back and I\u2019m telling all my friends \u2013 just this one $10 coupon is likely to generate a couple thousand dollars in sales over the next couple of years.<\/div>\n
Add in a few more new loyal customers the mailing generated and the simple $10 coupon more than paid for itself.<\/div>\n
Now I know many people worry about giving discounts. After all it seems contradictory, if you want to increase your profits \u2013 giving away money doesn\u2019t sound that smart.<\/div>\n
And it\u2019s true, cutting your prices dramatically isn\u2019t the brightest move to make if you want to stay in business. That\u2019s what General Motors did just before they filed for bankruptcy and got bailed out.<\/div>\n
On the other hand, using discounts to generate leads, to get people in the door so you can create loyal customers who will buy from you over and over again is just plain good business. That\u2019s what the owner of Tengda did and you should do it too.<\/div>\n
Speaking of discounts. Want to save $10 on any MarketingForSuccess product?<\/div>\n
Just enter \u201cMFS-10\u201d in the coupon code box before 12\/20\/10 to save yourself $10 on any order.<\/div>\n
Go here to get started >><\/div>\n
(https:\/\/www.marketingforsuccess.com\/store\/)<\/div>\n
Talk to you later,<\/div>\n
Charlie<\/div>\n
MarketingForSuccess<\/div>\n
P.S. What\u2019s the easiest way to get more people to your web site, or to your place of business?<\/div>\n
Give them a reason \u2013 even one as simple as $10 discount coupon. Who knows – it could easily bring you in dozens or even hundreds of new customers and tens of thousands of new sales that you would have otherwise missed.<\/div>\n
P.P.S. What\u2019s the best discount strategy you\u2019ve used to increase sales and profits?<\/div>\n
Just go to the blog, and add your idea as a comment to this post and provide the link to your site, and get some free press for your business. Here\u2019s the link to the blog post >><\/div>\n

When it came time to pay the bill for dinner I must admit, I felt a bit foolish.<\/p>\n

There I was handing over a $10 discount coupon for a bill that was $190 but I had to admire the marketing savvy of the restaurant owner.<\/p>\n

A few nights before, my wife had been conferring with our good friends Leslie and Will and Leslie offered to pick the restaurant and make the reservation.<\/p>\n

\"clipping<\/a>Like us, Leslie is always interested in trying new places and she had a $10 coupon for Tendga, an Asian restaurant across town in Greenwich.<\/p>\n

We knew we were taking our chances with a new restaurant but it turned out both the food and service were first rate. My only complaint was the techno music blaring from the bar.<\/p>\n

Which brings me back to the math.<\/p>\n

The restaurant owner spent money on a mailing to selected homes in Greenwich, CT offering $10 off. That\u2019s right, just $10 off in a town where the average home sells for a million dollars.<\/p>\n

The result was that he generated at least one sale of $200 and given that we\u2019ll be back and I\u2019m telling all my friends \u2013 just this one $10 coupon is likely to generate a couple thousand dollars in sales over the next couple of years.<\/p>\n

Add in a few more new loyal customers the mailing generated and the simple $10 coupon more than paid for itself.<\/p>\n

Now I know many people worry about giving discounts. After all it seems contradictory, if you want to increase your profits \u2013 giving away money doesn\u2019t sound that smart.<\/p>\n

And it\u2019s true, cutting your prices dramatically isn\u2019t the brightest move to make if you want to stay in business. That\u2019s what General Motors did just before they filed for bankruptcy and got bailed out.<\/p>\n

On the other hand, using discounts to generate leads<\/a>, to get people in the door so you can create loyal customers who will buy from you over and over again is just plain good business. That\u2019s what the owner of Tengda did and you should do it too.<\/p>\n

Speaking of discounts. Want to save $10 on any MarketingForSuccess product?<\/p>\n

Just enter \u201cMFS-10\u201d in the coupon code box before 12\/20\/10 to save yourself $10 on any order.<\/p>\n

Go here to get started >><\/a><\/p>\n

Talk to you later,<\/p>\n

-Charlie<\/em><\/p>\n

P.S. What\u2019s the easiest way to get more people to your web site, or to your place of business?<\/p>\n

Give them a reason \u2013 even one as simple as $10 discount coupon. Who knows – it could easily bring you in dozens or even hundreds of new customers and tens of thousands of new sales that you would have otherwise missed.<\/p>\n

P.P.S. What\u2019s the best discount strategy you\u2019ve used to increase sales and profits?<\/p>\n

Just leave your idea as a comment to this post and provide the link to your site, and get some free press for your business.<\/p>\n","protected":false},"excerpt":{"rendered":"

{!name}, When it came time to pay the bill for dinner I must admit, I felt a foolish. There I was handing over a $10 discount coupon for a bill that was $190 but I had to admire the marketing savvy of the restaurant owner. A few nights before, my wife had been conferring with […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[10,13],"tags":[352,381,384,386],"_links":{"self":[{"href":"https:\/\/www.marketingforsuccess.com\/blog\/wp-json\/wp\/v2\/posts\/7488"}],"collection":[{"href":"https:\/\/www.marketingforsuccess.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketingforsuccess.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketingforsuccess.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketingforsuccess.com\/blog\/wp-json\/wp\/v2\/comments?post=7488"}],"version-history":[{"count":0,"href":"https:\/\/www.marketingforsuccess.com\/blog\/wp-json\/wp\/v2\/posts\/7488\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketingforsuccess.com\/blog\/wp-json\/wp\/v2\/media?parent=7488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketingforsuccess.com\/blog\/wp-json\/wp\/v2\/categories?post=7488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketingforsuccess.com\/blog\/wp-json\/wp\/v2\/tags?post=7488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}