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Discounts Don't Buy Loyalty. (Here's What to Do Instead)
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Do you love discounts? In marketing, it's a sure-fire way to encourage quick purchases. But when it comes to building customer loyalty, is it the best way? π€
When customers are extremely aware of what it means to "get what you pay for", does discounting really help you elevate your brand? Or does it do the opposite?
Let me tell you this: if you want to build LOYALTY, your efforts have to go beyond the discount.
What else can you do? Well, let me give you a list! Watch this training and tag everybody! π
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TIMESTAMPS & HIGHLIGHTS:
00:30 - Discounting Discussed
03:35 - Reasons for Discounting Product
03:39 - Impulse Buy Trigger
04:35 - Drives Traffic
05:10 - Get ahead of the competition
05:54 - Match Competition Prices
06:20 - Loyalty
07:15 - What happens When You Rely On Discounts
08:15 - Why Shouldn't You Reply On Discounts As A Marketing Tactic
08:50 - Lowering Your Prices Hurts Your Profit
10:05 - Lowers Perceived Value Of Your Product
12:14 - What Else Is There To Give When The Holidays Come
13:40 - Ideas To Go Beyond The Discount
13:43 - Provide Better Experiences
14:37 - Rewards
15:15 - Personalized Recommendations
16:36 - Ease Friction
18:41 - Show Quality
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