If sales are slow and profits not looking healthy, the knee jerk reaction can sometimes be to slash prices. Discounting and having sales can work in some cases, but it is not always the best thing to do for your business, particularly for the long term.
I want to refer to the concept of perceived value. If something is offered to you for free, what do you think? “Too good to be true?” “It can’t be that good if it is free can it?”
These are two good reasons not to automatically discount in order to get sales and profits to grow.
There are many other ways to put across value and to raise interest and demand for your products and services. Like what?
- short term promotions
- bundles or packages
- cross selling
- up selling
- continuity programmes
For more information on these bullet points and how you can make them work for you and your business, check out www.bigideasforsmallbusinesses.co.uk
So now you know how you are going to raise sales and market your business, it is time to tell the world! Check out www.shortontimeandcreativity.co.uk