Image yourself on New Years Eve, sipping some bubbly, celebrating the end of 2020, and over-the-moon with the sales you brought in over the last two months. You're still in disbelief that you had your best holiday season ever, without running a single discount.
Every where, every year, every shop, store, and business on earth promotes a holiday sale with big savings for customers. It seems like a no brainer to follow suit if you want to compete, and though you might see a bump in your sales, what cost does running a holiday sale have on your small business, bank account, and sanity?
THIS YEAR, I’M SAYING “NO” TO SALES AND DISCOUNTS, AND TELLING MY CLIENTS TO DO THE SAME.
Did you just gasp at the thought of not running a holiday sale? Trust me, I know it sounds radical, but hear me out…
INSTEAD OF DISCOUNTING YOUR SERVICES, I WANT YOU TO ADD MORE VALUE.
Instead of offering your customers big discounts that eat into your revenues, I’m encouraging ALL my clients to join me in boycotting discounts and instead pursue a value-add strategy.
What’s a value-add strategy? In a nutshell, value-add encourages you to think about what you can ADD that will make your product or service even more enticing to buyers and get them to think “Woah! That’s an amazing deal. I better buy that right now if I want to get all that goodness”.
I love this strategy for a lot of reasons, but mainly because by not offering discounts you are 1. positioning your business as a luxury product instead of a discount commodity, and 2. you won’t take on more clients for less which means you’ll save your sanity and your wallet will thank you.
REMEMBER, FOR VALUE-ADD STRATEGIES TO WORK YOU NEED TO ACTUALLY ADD VALUE FOR YOUR CUSTOMERS, WHICH MAY TAKE THE FORM OF YOUR TIME, YOUR MONEY, OR BOTH.
That said, you are in charge of what those add-ons are so you can decide what will work best for your business.
What are some examples of value-add strategies you can use this holiday season?
If your shop sells prints, cards, or other gift items…
Complimentary upgrades (paper, size, etc)
Complimentary gift wrapping
Free gift tag & personalization
Free bonus gift
If you exclusively sell wedding invitations & stationery…
Complimentary address printing
Free envelope liners
Complimentary paper upgrade
Complimentary upgrade to colored envelopes
Obviously these are not exhaustive lists, but give you an idea of how to add value for your clients while not discounting your work. Combine them, come up with your own, and make your offer so enticing that someone would be a fool to pass it up. (Don’t be afraid to share with your audience just how much each value-add item costs so they know the dollar amount they are saving by taking advantage of your offer!)