Ep. 153: The Real Cost of Discounting (and What To Do Instead).

In this week's episode Lauren discusses the real cost of discounting in your Business, and what to do instead.

The Impact of Constant Discounting on Your Business:

Erodes Your Brand Value.
Discounts attract bargain hunters, not loyal Clients. (03:00).
Discounting can damage the perceived value of your services — Clients and potential Clients may start to question your pricing across the board, you run the risk of being perceived as cheap or non-premium. (04:30).
Regular discounts (aimed at attracting new Clients) may start to annoy your most loyal OG Clients. (05:30).
Regular discounting eats into your profit margin. Do the math before discounting, and ask yourself, can you really afford to discount? (06:30).

What To Do Instead of Discounting:

Content Planning and Creation. The better your Content, the more your Business will grow into the future. (09:00).
Training for yourself and/or training for your Team. (10:30).
Utilise Models to grow your Business. (12:00).
Contact former Clients and/or Clients you haven't seen a while and check in with them. (13:00).
Get up-to-date or even ahead on your admin work. (14:30).
Learn to be OK with a little bit of white space in your schedule. (15:00)

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Lauren on Instagram: https://www.instagram.com/laurenlappin_

Allure's Instagram: https://www.instagram.com/allure_lashbeautybar

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This Episode was Recorded and Produced by Josh Liston at JCAL Media Group.