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281 When to use Fixed Price v. Percentage Discounts

My Digital Farmer | Marketing Strategies for Farmers

Release Date: 10/02/2024

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More Episodes

Fixed 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:

Join my free email list! I have a great "Crash Course in farm marketing" that will guide you through the marketing jungle over the course of several months. Each week, you'll get a new email with suggestions and tips to make your marketing better. Subscribe at https://www.mydigitalfarmer.com/subscribe

Farm Marketing School - my monthly online marketing school membership just for farmers. Farm Marketing School is an on-demand library of marketing workshops and project plans that will help you build some of the most important marketing elements in your farm business like: building a promotion calendar, setting up your Google Business Profile, auditing your sales funnel, updating your home page of your website, building your first email nurture sequence, acquiring and deploying testimonials, and practicing different types of offers. You get to chose what you want to study and build each month. These projects are designed to be completed in under 30 days, so that you slowly build your marketing system piece by piece. Use the step by step project planner and resource folder to help you jumpstart your work. Take advantage of my new marketing crash course inside or take the onboarding assessment tool to help you identify where your funnel is broken and what project to do first. To see what courses are currently inside of FMS, or to try out Farm Marketing School for a month at mydigitalfarmer.com/fms  Start and cancel your membership anytime.

Join my CSA Academy Library -- this is my digital cooking resource library that I provide for my CSA members to help them learn how to become a better home chef and cook the CSA way. It includes a Beginner's Guide to CSA mini-course, Vegetable University (A to Z video tutorials for every veggie); Canning Club (canning videos); Exit Strategy videos; Instant Pot tutorial, and my Recipes and Resources pages (with weekly CSA box recipes and unboxing videos). Farmers can subscribe for a monthly fee to have access to these resources to help them support their own CSA members.

Early Bird Campaigns that Convert -- In this episode, I mentioned how I would be building my CSA Early Bird Renewal Promo campaign this month. IF you want to learn my system for how I do this every year, I offer my step by step online course to help you get it done. This course will teach you how to build a compelling offer that gets your current members to decide to renew during your promo campaign. I show you the emails to write, the posts to create, and the ENERGY you need to generate in the week before you launch.

Find my marketing Facebook group for CSA farmers!

Follow me on Instagram for a daily IG story tip on marketing! @mydigitalfarmer