Pricing discounts work – to an extent.
Discounts in their various forms – a simple price cut, a price break for buying early, a discount based upon buying volume (e.g. buy two get third free) or multi-buys (e.g. group rates) – typically have a short-term effect of generating a positive response.
Another bonus: since these discounts usually produce a higher volume in sales, you will likely (at least initially) spend less time selling.
On the flip side, discount overuse can “numb” customers to your pricing and the value of your deal and product. Too many “specials” and shoppers might believe your product is too “marked up” in the first place. You may earn their distrust. Or, they may feel entitled to discounts on your other products.
Somewhere between always having a sale (think: your local car dealership) or never having a sale (the new J.C. Penney’s) sits the sweet spot for reaching the rational-yet-emotional shoppers that we are.
With a little trial and error – and a lot of study of the impact of your past discounts – you should be able to hone in on what works and how often to work it.
Customers of ABC Signup have plenty of options to choose from when using its online registration software to set up discounts for their programs and events. Discounts can be established by percentage or dollar amount and based upon a number of criteria, such as membership, early registration, group rates and so on. Customers even have the option to create very specific discount policies based upon criteria they create, e.g., “have you participated in our programs before” or “are you currently enrolled here.”
ABC’s robust tools also allow users to set discount redemption limits and expiration dates as well, which help control the “overuse” scenario mentioned above.
Some examples of ABC Signup customers’ discounts include:
- Des Moines Art Center, which offers a percentage discount to its members by asking “Are you a member" on its registration form and linking a discount to the “Yes” response
- Auguste Escoffier School of Culinary Arts, which offered Groupon discounts for its cooking classes that were integrated into its ABC Signup event and registration pages
- Child Care Council of Westchester, Inc., which provides multiple variations of volume-based discounts for its many training courses
- Commonwealth Health Corporation, which offered multiple date-related "early bird" discounts for registrants to their annual Medical Center 10K Classic
If you are a customer and are interested in creating your own discounts, you can contact us for assistance or go to your software’s “Help” section and navigate as follows: Event Set-up > Creating a New Event > Financial. If you feel pretty comfortable driving ABC Signup, you can find the discount tools on your ABC Signup dashboard under Event Setup > Financial. Click on “Discount Codes” and/or “Discount Policy” and make your prospect an offer they can’t refuse. Just be judicious about how you use and roll out your discounts, per the gurus.
As always, if you have any questions about ABC Signup or registration software, send us an e-mail or give us a call (866.791.8268x0). We are here to help you leverage our tools to make your programs and events more professional, more appealing, more efficient and more successful.