How to Run a Discount Without Losing Money

Discount promotions play a key role in bringing in customers, increasing revenue, and growing your business. Yet, dropping prices can feel like a gamble. In this article, we’ll take a look at how you can use discounts to increase your profit.

Discounts communicate that you appreciate your customers and are willing to go the extra mile to keep them satisfied.

Use discounts to build customer loyalty

Successful business owners keep customers interested and engaged. Offering discounts, rewards, and incentives communicates to customers that you appreciate their business and are willing to go the extra mile to keep them satisfied.

More customers = more revenue

The goal of a discount is increasing traffic. Discounts incentivize new customers by providing a lower-risk option for trying your products. Every time a discount brings a new customer through your doors, you have the opportunity to create a memorable experience and convert them to a repeat customer. Discounts also lead to increased referrals as customers encourage family and friends to enjoy your promotion’s brief window of opportunity.

Regardless, increased traffic to your business balances out the upfront cost of the discount and provides an effective return on investment.

Use promotions to energize sales    

Schedule promotions during times when business tends to be slow. For example, run a store-wide sale to counter post-holiday slumps or run a promotion during off-peak times of the week.

We’re here to help

Smart Pickle helps you reach customers with sophisticated promotions regardless of your level of expertise. While running a discount may seem daunting, Smart Pickle lets you leave the heavy lifting to us. Taking advantage of the tips and guidance provided through our user-friendly application, you’ll enjoy all the benefits of our proven marketing tools with none of the guess work.

As you use Smart Pickle, we’ll help you learn what works for your business and what doesn’t. After each promotion, look back and compare your redemptions with past efforts. Look for trends in your success and keep doing what worked last time. If you’re dissatisfied with your redemption count, keep experimenting with your promotion’s type, style, content, and duration. We guarantee that as you keep running more promotions, you’ll get a better sense for how to use discounts to grow your business and increase revenue.

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