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Does Discounting Work in a Recession? (Thinks Out Loud Episode 315)
Google is now showing when companies offer discounts and price reductions in search results. Combine the value of search with the ongoing COVID recession and you might think that slashing prices is the best way to attract business right now. But is it? Will discounts turn your business around? Does discounting work in a recession? Or is there a better way?
As you might imagine, there’s no simple answer to this question. Of course you must provide your products and services to customers that fit their needs. But discounting alone usually won’t cut it. What will? And how do you make your prices (rates, fares, whatnot) work for your business when customers need to control their spending?
This episode of Thinks Out Loud takes a look at how to think about pricing holistically during a downturn. We look at when discounting works in a recession, when it doesn’t, and what you can do to ensure not just improved business, but improved profits too.
Want to learn more? Here are the show notes for you.
Prefer to read? Don’t miss the transcript below.
Thinks Out Loud Episode 315: Does Discounting Work in a Recession? Headlines and Show Notes
Free Downloads
We have a couple of free downloads for you to help you navigate the current situation, which you can find right here:
* A Brief Introduction to Thinks Out Loud. As a bonus, we’ve also included this PDF document that highlights some of our core episodes to help you dig into what the show is about. We think it will help you capture the show’s essence while you’re working your way through the 300-plus episodes published so far. Download it here.
* Digital & E-commerce Maturity Matrix. As a bonus, here’s a PDF that can help you assess your company’s digital maturity. You can use this to better understand where your company excels and where its opportunities lie. And, of course, we’re here to help if you need it. The Digital & E-commerce Maturity Matrix rates your company’s effectiveness — Ad Hoc, Aware, Striving, Driving — in 6 key areas in digital today, including:
* Customer Focus
* Strategy
* Technology
* Operations
* Culture
* Data
Show Notes and Links
As always, here are the "regular" show notes, detailing links and news related to this week’s episode.
* Google adds price drop appearance rich results to sea...
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By Tim Peter
5
55 ratings
Google is now showing when companies offer discounts and price reductions in search results. Combine the value of search with the ongoing COVID recession and you might think that slashing prices is the best way to attract business right now. But is it? Will discounts turn your business around? Does discounting work in a recession? Or is there a better way?
As you might imagine, there’s no simple answer to this question. Of course you must provide your products and services to customers that fit their needs. But discounting alone usually won’t cut it. What will? And how do you make your prices (rates, fares, whatnot) work for your business when customers need to control their spending?
This episode of Thinks Out Loud takes a look at how to think about pricing holistically during a downturn. We look at when discounting works in a recession, when it doesn’t, and what you can do to ensure not just improved business, but improved profits too.
Want to learn more? Here are the show notes for you.
Prefer to read? Don’t miss the transcript below.
Thinks Out Loud Episode 315: Does Discounting Work in a Recession? Headlines and Show Notes
Free Downloads
We have a couple of free downloads for you to help you navigate the current situation, which you can find right here:
* A Brief Introduction to Thinks Out Loud. As a bonus, we’ve also included this PDF document that highlights some of our core episodes to help you dig into what the show is about. We think it will help you capture the show’s essence while you’re working your way through the 300-plus episodes published so far. Download it here.
* Digital & E-commerce Maturity Matrix. As a bonus, here’s a PDF that can help you assess your company’s digital maturity. You can use this to better understand where your company excels and where its opportunities lie. And, of course, we’re here to help if you need it. The Digital & E-commerce Maturity Matrix rates your company’s effectiveness — Ad Hoc, Aware, Striving, Driving — in 6 key areas in digital today, including:
* Customer Focus
* Strategy
* Technology
* Operations
* Culture
* Data
Show Notes and Links
As always, here are the "regular" show notes, detailing links and news related to this week’s episode.
* Google adds price drop appearance rich results to sea...