Understand Your Buyer: The Discount Effect
What is it?
Discounting a purchase is one of the simplest and easiest ways to convert buyers.
Why does it work?
It works because it simply makes the offering cheaper. Whether as a sale item or through the use of a voucher code or other mechanism, making your offering cheaper makes it more appealing and accessible. But proceed with caution; offerings that are regularly discounted can be perceived differently as those which are offered at a lower price- tying the discount to a particular reason can discourage buyers from expecting a regular discount.
How can you use it?
Any offering can be discounted at any point but it’s a potentially dangerous thing to do unless you use it sparingly. If you do choose to discount then be sure to associate the discount with an event, special deal or other outside factor that ensures your buyers don’t expect a discount or perceive your offering differently.
Like this kind of stuff? Want more?
84 ways to reach, engage and convert people to buy using psychology, science and common sense.
In the book we cover:
✅ How people work – 18 factors that affect client behaviour.
✅ Selling Communication Basics – 12 ways to communicate more clearly.
✅ How to get attention – 18 ways to stand out and be noticed.
✅ How to engage – 27 ways to engage potential buyers.
✅ How to convert – 10 ways to convert prospects to buyers.
Everything in the book works and is backed by psychology, science, common sense and my own testing.