Are discounts the secret to increasing sales? This research says maybe not

A company called Salmat has recently released a study that showed consumers are not actually as interested in discounts as most companies presume. The research revealed that consumers are actually more interested in getting the most value for their dollar. Companies have been spending money from their marketing budgets on promoting discounts when they could have been drawing in more business by focusing on the actual value of their product or service. This will also save money when it comes to avoiding dramatic price cuts.

Key Takeaways:

• It was found through an SMB survey that many small businesses focus excessively on social media while their customers find about products on search engines.
• The researchers said that after consulting all sources in their survey that the most important concern to consumers when buying a product is value for money.
• Brands and companies can differentiate themselves based on price by discounting but the experts say that it is not the only way.

“Salmat has revealed many small business owners are wasting money on strategies that are failing to connect them with their customers.”

Read more: https://www.flyingsolo.com.au/marketing/business-marketing/is-discounting-the-answer-to-increased-sales-maybe-not