What is it?
A competitor discount can help attract buyers who may have already spent money on another solution by helping to “refund” some or all of the money they have spent.
Why does it work?
It works because one of the main issues people have when making a purchase is whether or not they will waste their time or their money.
If you’ve already spent money on a solution that’s not working and you’re being offered a discount on a solution that will work – it helps you to feel less like you’ve wasted your money and it’s an attractive offer.
How can you use it?
The first thing to consider is how much money your buyers may have wasted elsewhere. Then you need to consider how much of that you can offer in the form of a discount to attract those buyers to switch to you.
An example is the software called “Clean My Mac” which offers a 40% discount if you can prove you’ve bought from a competitor but it’s not worked out for you.
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