stop sales

Stop Sales Now!

Stop sales? What? Black Friday, Cyber Monday. Sales are everywhere this time of year. Our customers come to expect them, even wait for them. Could it be that our actions create unintended, undesirable responses on the part of our prospects and customers? Could holding a sale actually hurt your business in the long run?

I have a business colleague who sells very high end coaching and consulting packages. She has a sale once a year at Thanksgiving. While her sales skyrocket in November, her prospects and customers have come to expect the November sale and wait for it. They don’t buy in August, September, October, no they wait for the sale.

Yes, sales will bring in customers, however are we teaching our clients to hold off on buying the next thing because that too will go on sale, eventually? Often we feel compelled to have a sale because we know it’s a sure fire way to bring in revenue. In the process we have accidentally taught our customers to wait for the sale.

Sales can damage your business in another way. Sales mean a deal, a bargain, a transaction, a monetary exchange. What sales don’t foster is relationship. Isn’t that really what we are striving to establish with our customers?

Long-term customer relationships mean you’ve cultivated customers who buy from you again and again, who turn to you first to solve a problem, who recommend you to their friends and colleagues.

Holding a sale or discounting your products seems to be the first knee jerk reaction to getting more sales. Frankly, in most cases, it just doesn’t work. If you establish fair prices, stick to them. Discounting just lowers the value of your product or service and trains your customers to wait for the sale.

If you’re looking for incentives to get people to buy now, try adding bonuses or bundling products together to increase customer spend.

Be confident in your prices when they are built on sound reasoning and incredible value. Resist the temptation to discount based on price.

Please stop sales if you’re just training your customers to wait for the discount or ask for a price cut. Use that time, instead, to build and convey the incredible value your products or services bring.

People will pay full price for that!


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