281 When to use Fixed Price v. Percentage Discounts
My Digital Farmer | Marketing Strategies for Farmers
Release Date: 10/02/2024
My Digital Farmer | Marketing Strategies for Farmers
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info_outlineFixed Price discounts. You've seen them. "Save $5 when you spend $25!!"
Percentage off discounts. You've seen those too: "Get 20% off when you spend $25 or more!"
But which one is more effective? If you were going to build a coupon code in your online store, or offer a promotion at your farm store -- which one will lead to more sales?
Well... it depends.
As it turns out, there are best practices surrounding the use of the fixed price v. the percentage off discount. And it all revolves around sales psychology.
Our brains just "feel better" when we use one over the other -- in certain circumstances.
In this episode, I share with you what conventional marketing wisdom says about when to use a fixed price discount over a percentage off discount. Test these out in your farm marketing and see what works best.
This podcast was sponsored by Local Line, my preferred e-commerce platform for farmers. Are you looking for a new solution for your farm? I can't recommend it enough. Easy to use inventory management, great customer service, continuous improvement, and a culture dedicated to equipping farmers with marketing expertise, Local Line should definitely be one of the e-commerce solutions you consider as you switch. Local Line is offering a free premium feature for free for one year on top of your paid subscription. Claim your discount by signing up for a Local Line account today and using the coupon code: MDF2024. Head to my special affiliate link to get started: www.mydigitalfarmer.com/localline
Some of the resources mentioned in this episode:
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