Why as an entrepreneur are you devaluing your service…
or product by reducing prices over a 3-4 day period (Black Friday to Cyber Monday)?
If your reason is…just so a consumer who probably would never buy from you now has a chance too…that would be wrong. If they aren’t willing to support you when your prices are higher they are not the customers you are looking for, period.
Ironically some companies rely on those 3-4 days of reduced ridiculous pricing to make up all the sales they lost from the rest of the year not knowing how to attract their ideal clientele.
Do you see doctors offering 70% off heart surgeries? Or divorce attorneys offering a buy one get one free special? Or perhaps funeral homes advertising first time customer incentives? No, because that would be nonsense.
But sadly, without a solid marketing plan in place most companies just play “follow the leader” and copy what their competition is doing. Omg, that company is offering 1/2 off service, so I’d better offer that or more so I can compete. Compete for what? Being a dumbass who doesn’t understand that reducing prices doesn’t help profits. It just makes you work 2,3,4,5 or even 10x harder making ends meet. Reducing prices to make it up in volume is the fastest way to go out of business.
Oh, and the customers you attract with those special offers tend to only buy from you once a year, only tell their friends about you when your prices are cheap and never spend enough to make them worth the effort to keep them on a mailing list.
Some businesses right now are so desperate for anything due to the times we are in, they will literally give you a pint of their own blood with every sale. Sadly, these are the businesses who consumers should be supporting, paying full price or more and getting their friends to also invest in. But nope, there is no support, just the illusion of false hope. And the gamble of a “reduced price offering” over a 3-4 day period turns into a “going out of business forever” liquidation sale.