I was talking to one ecommerce business owner recently about their email marketing.
They have great quality products, but yet, their business is in decline.
Why?
There are many factors that could be causing this, but one thing really caught my eye.
I found out that their lead magnet for getting people on their list is a permanent discount.
I never even considered this.
And no, it’s not like some VIP members club, where you have to earn access…everyone gets it.
They say their prices are adjusted for that discount though.
While I get why they would be doing this (to be able to get more people on the list) and it looks like they are not really at a loss here since the pricing is adjusted, I still don’t feel good about this.
First off, there is that whole integrity thing I talked about yesterday.
Second, you are lowering the value of your products in your customers eyes.
In their case, from the survey to their customers, majority said that with these kind of products, the quality is important to them.
Also, what’s the point of having sales, if every day is a sale?
It’s like having Christmas every day.
The whole magic would be gone.
To answer the subject line: You would get sick and tired of it.
There has to be scarcity, it’s what drives people to WANT.
That’s the whole point of Black Friday!
Only once a year you get those kind of deals, and they wouldn’t be doing them if they weren’t profitable.
So yeah, all I’m trying to say is, like with everything in life, there has to be a balance.
That’s the way it works.
Cheers,
Zoran