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Make More By Optimizing Your Discount Strategy

Make More By Optimizing Your Discount Strategy

Discounting is often used in any consumer-based business. From winning back abandoned customers to maximizing profits after a successful sales season, discounting is a powerful technique. How do you know what products to discount, when to discount, and how much? Often times (and it's scary to think) that these decisions are being made using gut-feel and randomness. If you are not careful, these decisions may end up costing your organization tens of thousands of dollars.

The first step to more intelligent discounting is to determine the reason why you are discounting. The three most common motives to price reduction are to receive short term cash flow, get rid of your inventory, or to compete with rival companies Regardless of the motive, you want to make sure you are discounting optimally.

In this webinar you will learn:

• What you should be aware of before you start discounting

• Understand short-term and long-term effect of discounting on overall sales

• How to use predictive analytics to create your own optimal pricing strategy