I want to talk about why discounts don't always work.
A lot of the times a brand new person in business, they'll think that, oh, if I put a discount on my product, I'll get more sales. If I put a discount on my product, I'll get more interest. And sometimes that is not the case. Actually, a lot of the times it's not the case and I'll explain why. So why would a discount not work? Well, what if I don't even know that I need your product? Putting it on a discount isn't gonna make me buy it. You know what I mean? Like, Brussels sprouts, what if I don't want Brussels sprouts, you putting Brussels sprouts on discount isn’t gonna make me buy it.
Like you can do 80% discount on Brussels sprouts, that's not going to really going to tend me like, Oh, I need some Brussels sprouts now because they don't discount. You know what I mean? So very often, putting a discount on a product is just lazy marketing, is just somebody who couldn't be bothered to invest time into actually showing their audience, showing the customers why they should get the product, they just slap a discount on it hoping that somebody will come and buy.
What's better way of doing it, how you could do it better instead of just sticking a discount on it? Well, a better way of doing it is educating a customer, why they need the product in the first place, you can still use the discount afterwards, but what you should aim with your post, with your video or with your Facebook Live on social media, what you should be aiming at is not to sell, but to educate a customer why they may need that particular product.
Think about when you're watching online shops, like QVC, what do they do? They show you a problem that their product can solve for you. So if you have this problem of dirt, this wonderful vacuum cleaner can cure that problem. If you have a problem of having belly fat, this amazing exercise machine can help you to solve that problem and so on. They don't just go, “Hey, here's the exercise machine, I’m going to give you a discount on it.” Because if you haven't decided that you actually need it, then the discount isn’t gonna help you to buy it. But if they show you why you need that product, what problems it could solve in your life and then you show them the discount on that product, now, it becomes very, very tempting for somebody to buy it. Some of our products are very straightforward and it's easy to see the benefit in the product. It's easy to see why would somebody buy, but there's some other products like could be food supplements or hair care products or any other unique type of products that from the first look, if I look at it, I might not be able to tell what's so special about this particular food supplement or what's so special about this particular shampoo.
So your job as a representative for that product and as a representative for that company is to educate your audience on why this product stands out from the rest, why somebody may need this particular product. What sort of problems this product might solve for somebody, and then you can see and by the way also, today only it's 20% off or its 30% off, whatever.
Now, it's going to be very effective. But if me as your potential customer if I don't know what problem your product solves, or why would I need to use it, sticking a discount on it may not really work on me buying that product. So don't be too quick just to discount the products. And again, very often you don't even need to discount the products. I've met so many new, especially new people in network marketing, when they're not experienced, they think oh, if I could just sell it cheaper, more people buy it, and they go, “Hey, look, this product is already 80% less expensive than what pay in the shop.” Why would you discount it even more? It doesn't even make sense.
But that person just thinks if I just sell it cheaper, I'll sell more of it.” And very often it doesn't make any sense to do that because one; you're losing your profit on it, two; you aren’t going to get that many sales anyway from it, instead, why don't you go and show what that product does and how it solves problems, how it stands out from the rest. And that will get people curious and thinking, oh, I want to find out more about that.
That’s my training and tip for you. Hope you got value some value in this blog post, if you did, feel free to share it with other people. If you would like more amazing trainings check out “Network Marketing Success Training” group http://titaniumsuccess.co.uk/successtraining.php. There are 10 amazing lessons in this training course that will help you get the breakthrough in your business!
In : Personal Development
Tags: don't discount stand out from the rest