The beauty industry is the fiercest of all types of industries. You see and experience a lot of competitors while being in this business. And many resorts to handing out discounts and coupons to continue in the game. Though it is a brilliant idea to do so, how do these discounts benefit your business?
The most important question that arises is whether the business can sustain this in longevity? It also leads to another crucial question that you need to ask yourself, “do you prefer quantity or quality?”. It cannot be obvious to decide. However, the below points should be able to help you clear out your thoughts.
The benefit of discount
Here are some benefits of offering discounts and coupons,
A new business or the old one trying to revive from a difficult time, discounts are always beneficial as it attracts new customers. The purpose is to gather as many new clients as possible. So, the business takes this opportunity to market its content online and through email.
These are easy ways to get attention from the crowd. Online marketing will require you to understand the demographics and post content accordingly. Email marketing is much simpler. Gather the email contacts of old and new customers and segregate them. Then send emails with customized offers. This way, you get in touch with your clients individually without spending a lot of time.
Protip: Finding new contacts has become easier than before. With AI-powered websites like GetEmail.io, you can validate the email addresses within just a matter of seconds. This email lookup tool also comes with a chrome extension to your Linkedin account. So, finding the contacts of the profile becomes a simple task.
The joy of sales!
Once you publicize the offerings of coupons and discounts, many people will flock to your salon to get the service. It is because of the natural tendency of the people preferring to buy more than one item when put on sale. This, in return, increases the sales for your business.
There are many apps built exclusively to cater the customers with discounts. It also lists businesses that provide different offers. As a business owner, you might have to spend extra time and money to maintain the flow of customers. But, it will be worth it once people become regular to your service.
As every coin has two sides, you cannot avoid estimating the downsides.
Any business is not a good business!
It is easy to think the other way around and cater to the audience. However, it will take a hit on your pocket as well as resources in the long run. Just because you keep giving out discounts, you will also have to handle the wear and tear costs of the equipment, along with the salaries of the staff.
And, no staff would like a cut in their salary for no reason. So, people will keep asking you for one unless you mention that the offers are valid only for a specific time. Always remember that loyal customers will not care about the price as long as they get quality service!
The more is not, the merrier!
Let’s imagine a salon offering 50% discounts for all the services it provides. Initially, it sounds great. You get to see several bookings on the list. However, it will affect the business in two ways. First, the loyal customers don’t get the required service as the company is busy catering to everyone.
Two – The staff gets exhausted with those numerous appointments and end up being less productive. Both aspects are harmful in the long run. So, while selecting out the offers, choose carefully and appropriately. It should fetch the required attention and profits.