This is a YouTube video titled "The Problem with Discounting Your Products" containing a monologue or talk from August 9, 2024, discussing the drawbacks of using discounts as a sales strategy and emphasizing education over discounting to maintain customer value. The speaker is a single individual sharing insights on pricing strategy.
Very rarely do we do discounts. I think just generally when you default to discounts, you're training your customer base to go, well, you'll probably discount this later, so I might as well just wait around for it, and you might not notice it right away. Oftentimes, this problem gets masked when you present discounts very early on because you're like, well, it got a bunch of people to buy. Okay, well, yeah, it got a bunch of people to buy, but what did that cost you in the long run? Right? So, just as a final note, I really don't like relying on discounts. I think it often masks other underlying issues that are keeping custom from wanting to buy from you. And so if you are going to do it, do it as an absolute last resort. Otherwise, the whole name of the game is all education. To be perfectly honest.
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