With Black Friday right around the corner, it is useful to remind ourselves about the power of discounts and how to make the most out of them!
Everyone loves a good deal. So much so that 88% of consumers in the U.S. used coupons when making purchases last year!! That’s a lot!
In other words, with so many clients used to taking advantage of coupons, discounts and other promotions, it is advised to have a strong promotional strategy on your coaching service.
Our tip: Provide limited-time percentage discounts on full-price offers. This encourages purchasing and makes your customers feel important which ultimately creates a feeling of loyalty. In short, you should offer customer discounts as they help you attract new customers, build customer loyalty, increase sales and drive site traffic.
Yet, it’s not as easy at it looks. You need a place where you can create and manage these discounts because yes, discount codes sweeten the deal, but it’s up to your marketing and user experience to increase conversions.
Discounts come in the form of bundled discounts, event/seasonal discount or even “buy one, get one free”.
For example, on platforms such as Pensight you can set up a discount code where you have the option to offer your clients either a percentage or a sum discount for a specific product or you can also make a particular offer available via a special link so that it is not visible to everyone. The discount expires once it is used for x number of times or at the expiry date you set (to push people to use it fast).
Black Fridayalso represents another great opportunity for you to offer special discounts. Be creative about it.
If it's too late for you to plan anything for this Black Friday, think about opportunities you have over the next six months (big holidays, special events or national celebration days). Plan ahead those national/international holidays and get your coupons ready for your special offers so that you can start distributing them with your audience.
Our tip: Black Friday, Cyber Monday, Holiday Season (i.e. Christmas/ NYE) and Valentine's Day are BIG ones!
Another use case is for those who have existing students, clients or members (from membership academies) - you can offer them x% discount on one-on-one calls for example. That can be a special bonus that people are getting from you.
If you have a course, at the end of each module, you can add a line saying “get your special 25% discounted 1:1 call” and put the Pensight link inside that lesson so that only your students have access to it.
Students are getting their special discount so they are feeling like they are getting good value and you are getting as many opportunities as possible for people to come and actually book those one-on-ones with you through the course program. You are giving them more value while making more money.
We learned that customers genuinely like shopping discounts and that boosting your promotional strategy with different discounts can increase sales and encourage customer loyalty.
Join Pensight for free and share your first discount codes in a matter of minutes! ✨
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