I used to consider that giving folks reductions would make you extra money, however that is not the case. Right now I will share with you why discounting is the …
I used to consider that giving folks reductions would make you extra money, however that is not the case. Right now I will share with you why discounting is the …
How many of you give discounts with your products, with your services, with your contracts, whatever it may be? If you do give discounts, leave a comment with "yes". If you don't give discounts, leave a comment with "no".
What would you say about loyalty points
What about countries like India where people wait for sales, offers, discounts what is the solution?
I do discounts with a purpose (and dignity)
I defninetly dont agree with that. It totally depends in what market sector you are in. I work for a compny with 170 million turnover per year. They give discounts. Its their business model because they leverage. And you are just a youtuber, trying to convince something that appereantly didnt work for you! 😂 keep youtubing bro.
In my construction business customers are the bad guys. I don't think I want to give anybody a discount. I don't know what's going on with me not making money, I think my analysis are saying that i need to not give discounts and only get customers that pay enough for me to provide services that will make me an income of 50k a year minimum and keep expenses and hiring subcontractors to a minimum because i dont want to have to raise my prices too much i dont want to rip people off either.
He's the Man!!!!!!!!
Thanks so much sir. No more discounts. No more headaches . , No more crappy clients. Again. I thank you !
Well I think Neil! Discount should be personalised. Or you can make people feel you’re taking care of them like walmart have very good reputation on giving discount
Yes – whoops!
Yes, but only for the first project a client does with us.
I believe discounts cheapen the brand, unless it's for groceries, personal care products or similar items. I feel a little turned off when a small business has discounts because 1) I think "how can they afford to give discounts," and 2) "Why did they not give me that deal in the first place"?.
I don't give discount.
Yes. Year over year for 12 month B2B agreement. I’m losing so much money!
I'd always thought that offering discounts was the only way to get people to buy early on. Thanks for showing a different perspective, I'll definitely be changing some things up on my website!
But a few videos before you told that discounting is excellent! 😯
Hello Neil, subscribed, do you think that bundles are also bad? For example if they buy 3 the price is 48$ instead of 50$? It encourages them to buy more and not a discount on a single product (similar to bundles like wactch + belt + shoes for x)
No
Yes I do give discounts
Hi Neil, great video and advice! A question, I seem to lose alot of business because my prices are considered high but when I compare it, it's not that much and my products are of much better quality. What can I do? I don't want to drop the price yet I don't want to lose business.
Thank you exactly what i was wishing you to make a video on!
What about referral discounts? for example, offer current clients a 15% discount on their monthly plan(only 1 month) for a referral sign up? @neil patel
You're absolutely right, discounts are a bad idea in almost all cases. I do have one small discount I offer customers that have 2 or more internet connections with my wisp business, but that's it. I currently have only one customer taking advantage of that. Everything else has no discounts whatsoever. There's a sign hanging on the wall in my shop that says "We have no quarrel with others who sell for less. They know what their stuff is worth."
Thanks Neil. I love your energy.
1. Are you primarily talking about services oriented businesses OR are you also referring to products such as apparel, or any other physical product?
2. For startups, and generating what’s the alternative to discounts / sales?
3. How about free giveaway offers to capture customer leads? I also giveaway apparel to social media influencers
4. Free shipping offers – do you consider this a discount ?
Thanks again Neil.
How about free shipping instead of discount? Is it ok to do that ?
I have a beauty business, my lashes are 19.98 but I have different 20-35% coupon codes on social media. Like YT25, PIN25 so i'll know where the sale is coming from. I was thinking about doing a $5 sale for hitting 1k subs. You don't think I should do it? I haven't gotten a sale in months….like months 😞
Yes
Neil than whats the best marketing strategy to capture attention fast?
Brilliantly put across Neil.
Thanks Neil for the tip. But how to then create some sort of scarcity?