Deep-discounting is a long-used marketing tactic, especially during the holidays. But some businesses can’t afford to discount. And others have a different sales strategy altogether. Keep in mind these savings tips as the holidays progress:
It’s every retailer’s dream to make a killing in Q4. Due to intense competition, price wars always heat up the closer we get to the end of the year.
For B2C businesses, deep discounting has long-term implications. Once customers develop the habit of seeing your discount message, they will expect your brand to offer discounts more frequently. While the holiday season is a time when discounts are prevalent, its effect on brand dilution is still a risk. To minimize this risk, let’s look at a few marketing tips that are specifically tailored for the holiday season.
Increase perceived value through bundles.
Whether you are selling a physical product or a digital product, customers place their perceived value on the price tag. They will buy a product when their perceived value is higher than the product. The bigger the gap in this direction, the better. Adding a complimentary product in your offering increases the total perceived value of your goods. As long as the complimentary product makes sense and adds value to the total package, the total value of these parts will exceed the sum of parts. For example, your company sells high-quality mattresses online. To make the offer more appealing, you can add in bedding and pillowcases with a mattress to increase perceived value.
Read More: | Five Tips To Compete With Deep Discounts This Holiday Season | Forbes | http://bit.ly/2iWKfNJ