09.29.14
Incentives Instead of Discounts
A friend of mine runs a non-profit for inner city work. He arranges programs for groups to visit the inner city and work for several days in a variety of service projects. Recently, he was told his prices were too high compared to other service programs. A consultant that he had worked with him shared to not be drawn into automatically discounting prices but offer incentives. Offer an incentive that rewards the group with a few dollars off if they send more participants or some other option that does not impact the bottom line negatively.
In sales, most of us cringe when we hear the price is too high or a discount is asked for. Instead of automatically thinking of how we can lower price, consider how to add value by offering an incentive to purchase more of an item, extended terms or an out of the box idea that ultimately results in higher profit or more revenue.
Regards,
Bria
