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Why Discounts Hurt Your Business Uncovering the Truth

Name: Why Discounts Hurt Your Business Uncovering the Truth
Uploaded: 2024-11-30T17:30:34+00:00
Duration: 31 s
Channel: Henning Schwinum
Description: A short YouTube monologue (by Henning Schwinum) arguing that offering discounts harms businesses by creating customer suspicion and signaling problems…

30 Nov 2024 · 1 min

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A short YouTube monologue (by Henning Schwinum) arguing that offering discounts harms businesses by creating customer suspicion and signaling problems; discounts also risk permanently undervaluing services and making future price increases difficult. The speaker presents this as a sales-leadership mantra: “do not discount.”

Chapters

I shared the example earlier, and when I was a sales leader, my mantra to my sales team was do not discount. I know in some industries, especially in the consumer space, it's really big, but I still think it's detrimental. Every time somebody offers me a discount, I'm immediately suspicious something has to be wrong. And I also feel that if you discount, you end up undervaluing your service. If and the tendency is that you will never get that price up.