Discounting ONLY for profit

One of the best forms of increasing sales or closing a sale is to discount your product or have a sale.

Ensure your original price always has enough leverage to discount it enough to be attractive to close the sale or run a sales promotion.  You should do this at the outset of establishing you price.  Your pricing formula should include: cost of goods, profit margin, GST and now sale margin.

It is also important to plan your sale so you link it to the buying cycle of your industry.  When are the traditional high and low buying times for your product or services and what are your marketing philosophies around offering discounted pricing at the high buying time or the other way around?

Follow the 31 day Cash Flow Challenge here and on Facebook.

Related posts:

1. 31 Day Cash Flow Challenge Day #8 – Plan for the lumps
2. 31 Day Cash Flow Challenge Day #13 – Invest spare cash in a high interest account
3. 31 Day Cash Flow Challenge Day #2 – Make sure the price is right and you are covering your costs