WW 245: Should You Discount Your Money Coaching for Seasonal Sales? - Solo Show

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A Quick Recap from this episode

Today we’re having a conversation about a question I recently received from a client. Should you discount your coaching during seasonal sales? This doesn’t only apply to Black Friday/Cyber Monday, but is really broad enough to cover all those seasonal sales that happen throughout the year. I thought it was a great question for the podcast, and wanted to offer some tips and advice on this.

Ultimately this is your business, so you get to decide if you participate or not.

What I want to mention first is that you don’t actually have to participate at all. Trust me, you will be okay and your business will be fine. For myself personally, I usually choose not to participate in these seasonal sales because these times are usually sacred to me. I’m spending time with family and trying to enjoy holidays and don’t want the stress and pressure of doing one of these sales.

Another reason I opt out is because I’m a small business owner. Although we all love a good discount, I don’t feel like it’s a good idea to discount my offers, and I don’t think it benefits my bottom line or profitability personally. At the end of the day my clients value what I have to offer and are willing to pay full price to get the impact and the transformation that they’re looking for.

So with that, I do want to offer a couple of things that I think are really important to consider when you’re choosing whether to participate in any kind of sale:

1. You should never offer a discount when your time is involved.

If you’re offering one on one coaching or group coaching where you’re hopping on a call or you have to be in part of it (even if you’re offering Voxer or email support), I wouldn’t offer a discount. There’s no scalability there and you won’t be more profitable where your time is involved. You’re not selling your time, you’re selling a transformation.

Discounting something where your time is involved isn’t going to increase your profitability. If you look at companies that successfully do sales like these, they’re offering discounts on things that are going to increase their profitability. For example if there are products they they need to get off the shelves to make room for new products. With a service where you’re providing your time, the profit margins work a little differently.

2. So what can you offer?

This is where we get into a couple options. If your main thing is your coaching/program or something that exchanges your time, then instead of offering a discount, you can add something that will actually be beneficial. Offer your program at a regular price but say that if you invest during this seasonal offer, you’re going to get this bonus workbook or bonus training or whatever. The point here is that it’s an offer that’s beneficial without being any additional work from you.

The other option is not to even do a seasonal sale or offer on your program, but instead to provide discounts on the products or offerings that you already have created that can scale without costing you any additional time.

The important thing to note here is that if you don’t have those additional things yet or the idea of any of this stresses you out, you do not have to participate! Remember that if you participate in these sales times of year on a regular basis it will train your audience to wait for these sales and never pay in full. Ultimately, it’s up to you, but you and your business will be fine either way!

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