Discounting the Christmas Ham
December 3, 2018
“Should we have a ham for Christmas this year?,” my wife asked this weekend, over three weeks in advance.
“Sure, sounds good to me,” I replied.
“Should we go ahead and order it?,” she asked.
“Why should we? Remember last year when we used a coupon? Let’s just wait and see what we get. Something always comes along.”
She didn’t have to think about my suggestion. “You’re right, let’s wait.”
This is what happens when you condition your customers to expect a discount or a promotion. It occurs in a seasonal business when there’s been little to no effort between buying seasons to remind customers of the value of the product.
It also happens if you’re a professional services provider and you consistently agree to scope creep. Or when you never say “no” to projects which aren’t a great fit for you.
Your clients expect you to do anything they ask because you always have. It’s not their fault; it’s yours.
You’ve become the Christmas ham.
About me: I’m enthusiastic about how changes in pricing strategy can significantly change profitability for a business and enhance life choices for business owners. I live this passion through Ray Business Advisors, my outside CFO and business advisory practice, in which my pricing is exclusively value-based, not hourly. I work with business owners on how they can change their pricing not just to increase their profits, but better serve the wants of their customers. Click here to learn more or call me at 404-287-2627.