Focused on the PriceNov. 29, 2020
By its very nature, a promotional sale (30% off, today only!) is an incentive to motivate or accelerate a transaction that would not otherwise have occurred.
To both the buyer and the seller, a promotion is tempting because it provides an easy answer to the question “why buy this now?”
Because it’s on sale.
It’s tempting for the buyer because it shifts the focus away from nebulous questions around what you really want and need, and activates your fear about a scarce resource: money.
And it’s tempting for the vendor to offer a sale, because it gives the customer sales rep an easy alternative (look, it’s half-off!) to engaging in the difficult, potentially uncomfortable work of listening to the customer, seeking to understand, explaining what makes the product remarkable, and asking for the sale at full price.
Sales are attractive because they alleviate fear and bypass uncomfortable conversations. But when we make price the last lever we reach for, instead of the first, and we participate in the challenge of communicating, then we become better shoppers and better business partners.
As a buyer, you increase the likelihood that you’ll get something you really want.
And as a seller, you increase the likelihood that you’ll create a loyal customer, not a 1-time price shopper.