We’ve warned you against the too-deep discount, but how can you profit from saving your customers cash? A New York Times blog suggests basing your entire business around saving customers money — a model that returns huge profit in more ways than one.
Your customers will thank you. Here’s how to execute:
Use incentives to your advantage
As the saying goes, “If you scratch my back, I’ll scratch yours,” it’s an important trust-building exercise to offer the customer incentives. Just be sure that you’re profiting from an incentive. Don’t give everything away.
Never underestimate the power of coupons
Coupons aren’t just for retail. A well-placed coupon in an ad or local business could garner new business and best of all, save money!
Host events to gain instant business
If coupons aren’t your style, host a community social event to get the ball rolling. Then, send off your guests with a goodie bag full of incentives to come back and use your business.