Pocket Price Waterfalls: How to Find Your Actual Costs and Margins
Are you aware of every single off-invoice cost that’s eating away at your margins? Most people aren’t.
There are a lot of ways to incentivize sales. But so often we get careless and have no idea just how much we’re actually spending—and how much we’re putting in our pocket. On today’s episode, host Roland Frasier walks us through a whole list of purchase incentives that might seem insignificant but, when added up, can affect your margins in a big way. Things like affiliate programs, free shipping, satisfaction guarantees, incentives for your sales team, discount-stacking and more. Incentives aren’t a bad thing. You just need to make sure you know how much they’re costing you—so you can make necessary adjustments.
Listen in to learn how to eliminate hidden costs and put more money in your pocket—even with inflation rates on the rise.
IN THIS EPISODE YOU’LL LEARN:
Which incentives are worth the money and which aren’tHow to keep people from discount-stacking so you don’t lose moneyWays to rethink your value ladder without losing customersHow to appeal to quantity-sensitive, quality-sensitive, and price-sensitive customersOUR PARTNERS:
7 Steps to Scalable workbookGet a free proposal from Conversion FanaticsGet 3% cash back on your ad spend with AdCardGet my book, Zero Down, FREEThanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you’d like to share? Connect with us on iTunes and leave us a review!
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