A Series on Discounting: Do's and Don'ts Part 1
DON’T #1- Discounts here, Discounts There, Discounts EVERYWHERE
Listen here Oprah of the Lash World, I’m going to bet you don’t have the financial luxury to give everyone a “new car” or a “new set of lashes”. “You get a discount, and you get a discount
and YOU GET A DISCOUNT”. I’m all for paying it forward and charity once you’ve got the means to do so, but when you’re running a for-profit eyelash extension business, let’s pull back the reigns on the deals and discounts before you get stampeded!
Do you know every offer you have out there? Are you offering $10 off on Facebook, 50% off full sets on Instagram, $80 full set special on your Google Ad, 30% off on your Yelp page, $20 off a touch up for referring clients, and 20% off for friends and family? Does that sound like a lot to keep track of? Do you like working for free?
I know marketing seems overwhelming and a lot of Lash Artists are under the assumption that marketing means advertising to clients that you "have a deal they can’t pass up"! Marketing is educating a potential client on the value your service, product or business can bring to their life. How does it make your client’s life better? Why is this a “must-have” in their life?
DO #1 - “Value First, Price Second”
Let me be fully honest when I say Discounting is Damaging your Business! Offering a discount is a strategic pricing tactic to either reward your current clients or draw in a specific client who you have not provided enough value to through your marketing. If you focus your marketing on what does my potential client find valuable (and it’s not your price point), what problem does my potential client have that I can solve, and what does the marketing I’m doing say about how I value my services and skills, then you can bet your booty that you’ll put out posts, images and appropriate “discounts” that attract a less “price sensitive” clientele because they’re already convinced they need your product/service. Your price is just the cost of living the life you painted oh so beautifully through your marketing.
LASHPRENEUR LIGHTBULB: Pricing is Perception. Often times, your pricing is the first thing a potential client wants to dig up on you once they’ve found you and fallen in love with your work. Pricing sets the stage to attract a certain clientele (whether they be low paying or high paying) and it also projects to a potential client your perception of the services you offer. Discounting does not mean new clients will come flocking in your doors! You might actually be diluting the perceived value of the services you offer.
How have discounts, deals, and dollars off impacted your business? Good? Bad? Did it draw in your favorite, full price paying client or did you find it was wasted time and money? What lessons have you learned from figuring out your price point?
Have a Good One,
Tara Walsh
The Lashpreneur
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