Q&A: Is there a better way to offer discounts to customers?
Today’s caller is seeking advice on managing the discount process. Her side hustle is growing, and she’s using a smart strategy of offering a discount after the first purchase—but she needs a better process for managing this.
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What It's About
Today's caller seeks feedback regarding their sale strategy.
Notes from Chris
Episode 1682
One of the most effective things you can do to inspire buyers to take action is offer a discount or have a sale. Some businesses publish sale prices by default. If you go into a department store, for example, you might notice that just about everything is on sale! Today’s caller is seeking advice on managing the discount process. Her side hustle is growing, and she’s using a smart strategy of offering a discount after the first purchase. But she’s worried about the bookkeeping process … we’ll leave it to her to explain more."Hi, Chris, my name is Shazlin and I'm an artist based in Toronto, Canada. I've been listening to your podcast since 2018 and I have to thank you for helping me launch my side hustle. My question is about discounts for repeat customers. I sell my artwork on my Squarespace website. When customers share their purchases and tag me on Instagram, they get a one-time discount on their next purchase. I currently keep track of them in an Excel sheet and the discounts are applied as refunds after payments are completed. But my sales are increasing and I worry I might overlook a customer who tagged me. I also feel giving discounts in the form of refunds is inefficient. Is there a better way to do this? Thanks. And I look forward to hearing your thoughts on this."Listen to today's episode to learn more...
MENTIONED IN THIS EPISODE:
- Checkout Shazlin’s artwork at her website, hersarong.com.
- Artist Turns Daily Commute Into $5,000/Month Side Hustle: A painter uses her love for her hometown and her last $100 to start a side hustle creating art that pays real money.
- Left-Handed Artist Creates Right-Brained Side Hustle: A New York-based art director has a difficult time finding a job that fits both her financial and creative needs, so she learns to think creatively with her ‘anything goes’ design hustle.
- Successful Artist Adds $1,000/Month to His Income: An artist uses his love of whimsical drawing to create a side hustle selling everything from autographed prints to coffee mugs with his designs on them.
