Mistake #1: No Customer Segmentation
Courses frequently offer discounts across multiple channels (websites, Groupon, email, Facebook, and in-store) without targeting specific audiences. When you target everyone, you target no one. This broad approach often results in discounts being used by regular, full-price customers rather than attracting new business.
Mistake #2: Unrestricted Discount Terms
Courses frequently impose no restrictions on discount usage, creating revenue management problems. Unlimited discounts can undermine pricing integrity and train customers to wait for the next deal rather than paying full price.
Mistake #3: Problematic Distributor Relationships
Working with third-party discount distributors often backfires. These partners typically advocate for broad discounts and minimal restrictions to maximize reach, while courses bear both upfront costs and revenue reduction. It's a double whammy affecting the bottom line.
The Fix: Plan Your Discount Strategy
Successful discounting requires comprehensive planning including clear campaign goals, specific audience targeting, strategic timing, appropriate channels, and measurable ROI tracking. Effective discount programs demand substantial work and ongoing analysis rather than quick, easy implementations.