Marketing Myth #1: Discounts Bring in More Business
We’re back with a brand new monthly mini-series, and this month we’re going to dive into our favorite marketing myths, starting with everybody’s favorite “D” word—discounts!
How many of you host sales over the holidays or promote deals and discounts with verbiage that reads, “20% off of retail, tools and cosmetics!” or “$25 off of your first appointment if you book today!”
When we’re thirsty for new business or our retail sales are down we’re often quick to come up with some kind of deal or discount in hopes of raising our numbers. However, discounts often give us the adverse effect. Ultimately, discounts devalue the work that we do and lead our clients to do the same.
The Truth: Discounts Devalue
If you’re looking to drive retail sales or get more butts in the seats, discounts won’t do you any favors. In fact, they’ll do quite the opposite. When using special deals and discounts to attract new guests, you’re only attracting people to the sale. You’re attracting people that would never actually be willing to pay full price for your services.
Think Add-ons or Upgrades
Instead of prompting people with special sales and percentage off signs, try a value-based deal that doesn’t devalue the work of your stylists or damage the perception of your product lines.
A value-based deal could be a complimentary add-on or upgrade service. You could offer each new client an additional color treatment or even upsell them with buy one, get one waxes.
Promote Your Products With “Gifts” Instead of “Sales”
If it’s product sales you’re after, gift each new client $5 to spend on retail, tools or cosmetics. You see how I shifted the verbiage? This way you’re not giving the impression that any of your products are on “sale” or that they’re specifically “discounted”. It’s a one-time, value-based deal for new clients who want to maintain their look at home.
How about convincing long-time clients to purchase more products? Host a limited time liter sale. Upgrade to the bigger size shampoo and conditioner and take home a styling product of your choice, we’ll even toss in the pumps—totally complimentary.
Want to Increase Revenue and Retention?
Discounts are over and done with. In order to get more dollars in the drawer and actually retain those new clients you’ve got coming in, you need to add value to the guest experience.
We’re big on booking and retaining clients here at Meet Your Stylist, which is why we created this amazing marketing tool, and more importantly, why we decided to share it with all of you!
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