In the mist of great competition for sales, business owners often engage in promotion to improve sales result. This is often portrayed by having posters indicating 50% discount, etc to entice consumers to purchase their products. On their social media platform, one can notice such “shout-out” promotion that is broadcasted to their fans.
By exposing your brand to a large discount on your social media platform, you are essentially showcasing to the world that your brand is worth a discount. Essentially, it might even agitate consumers who have purchased your brand products due to its exclusivity to a certain income earner group. Eventually, you become a cheap brand. People will hold their purchase till there is a consumers.
Credits : sgimpact.com
This is by far one of the most important thing to look out for in brand, Loud discount such as half price , 80% off is likely to result in consumers thinking about the quality and sincerity of your products and services. After all, people often have the idea that even after discount , retailers are still earning. Therefore, think about their thought when they feel that you have earned their pocket a large sum of money even before the discount period.
Essentially, your brand lost its message. Suppose a cosmetic brand that keep slashing its prices from $49.90 to $29.90 and subsequently to $9.90. Would you still trust the quality of this products. I’m afraid not although exceptions do happen.
A core motivation for having a large discount signs in shops is to entice people to know the brand. This is a normal thought. After all, which business owners do not want more people to know their brand. However, to do so through discount poster and banner may degrades the first impression of your new consumers. After such degraded brand impressions are ingrained in their mind, it would take an even greater effort to change their impression. The resultant effect is either a one-time sales or risk losing old time customers.
Stop discounting your brand today!