Platform development has been a recent focus of ours. Discovery: online publishing and the customer engagement that has to come with it, can feel like the old "enigma wrapped in a mystery".
One of the common pitfalls we warn clients to avoid is the doldrums of discounting. Many companies (especially online) feel it's is the right thing to do. We're still easing out of a recession, times are tight, and dropping your pricing should drive traffic and sales - right?
Not so fast.
Slashing prices can erode brand equity. Sure, there are always times when discounting can make sense for an online business, but it should be for a controlled duration and to address a unique and specific market condition.
If you've been given permission to broadcast to your core client base on a regular basis, you're already doing things right. Preference and profitability comes by adding value. If you're already there, don't erode what you've built.
If you have to slash your prices, make sure you do it in a credible way. And don't leave your value proposition at the door.
If you're lucky enough to garner customer attention, you need to be pretty and you need to look that way.