How to increase revenue without offering discounts?
Relying on discount pricing to boost sales can provide a temporary lift in revenue, however, it’s not a sustainable strategy to grow your business. We need a better solution. In this article, we’re going to share the most effective methods to increase revenue without offering discounts.
Why Utilizing Discounts Is Not A Good Idea For Your Business?
When you consider various options to motivate targeted customers to take action (fill the form, buy a product, use a service, visit a website,…), the idea of offering discounts may cross your mind. It’s a common tactic for boosting sales and generating additional revenue.
However, discounts are not a good idea for your business for the following reasons:
- Discounts cannibalize your profits, leaving you with razor-thin margins. If you use price as the incentive, you will have to offer a substantial discount to get the consumer to take action. Keep in mind, every dollar offered, you lose in profits. Furthermore, your competitors can also offer more if the consumers are shopping around.
- Discounting leads customers to think that you’re a discount brand. Instead of quality products or outstanding service, customers associate your company with the lowest price.
- Another problem with discount offers is that it is not suitable for all, such as non-profits organizations, insurance companies, schools, or religious organizations. It might degrade your brand reputation through your customers’ eyes.
Clearly, you need strategies for increasing sales and generate more revenue without discounting.
New Option To Increase Revenue Without Offering Discounts
Now, BusinessTRAK – a top marketing company – offers a creative way to help your business increase revenue without discounting. While discounts seek to attract customers with lower prices, we focus on providing value to customers by offering something extra.
We have one of the few HIGH-VALUE, LOW-COST promotion available today. Imagine giving away a two-year $500 Travel Savings Plan (like a coupon) where your customers are guaranteed to save $500 BELOW the prices listed on Expedia, Priceline, etc., for a one-time fee of $50. Now imagine getting 50% of the sale from every customer you refer.
It’s a Win-Win relationship for both your customers and your business, where you can help them to access a valuable DEAL and they will help you increase your revenue without any extra cost for them. The process is also very simple: all you have to do is registering a free account with us and starting to promote this INCREDIBLE PROMOTION to your audience.