Adding Value Instead of Offering Discounts?
Protect your existing revenue streams and create new ones by adding value…
Working with Channel Partners: Coco Quillen, Davinci Virtual
Most of us may think that the easiest way to attract more business is to discount pricing. While that approach may work in the short term, it normally carries significant long-term consequences that will impact overall revenues and profit margins. Truly successful promotions should be based on adding value instead of compromising pricing. This way, you have the opportunity to positively affect your customer’s value perception of your products while introducing them to new service offerings at the same time. Oh – and did I mention that we never had to reduce the retail price of the original base product?
Create some value- added promotions and try them out aggressively for a limited time. If your meeting rooms need more usage, add a one time meeting space offer to your virtual packages. If you want to promote the use of video conferencing in your meeting spaces – add a one time free use of the technology for first time users. Leverage services you want customers to use (and eventually pay for…) to increase the value perception of your promotions.
Not sure you want to experiment with your local core clients first? Your channel partners represent the perfect instrument to test new promotions without challenging your current local market. They normally reach a large national or global prospect base that will allow you to gauge your new promotions and get quick results.
Some of the Davinci Partner Center Network member locations have been very successful by taking the very approach we described above and they continue to test new value based promotions.
I encourage you to create some value-based promotions and to test them with your channel partners – you will be glad you did!
About Pirrotti Marketing
Pirrotti Marketing has been crafting and executing marketing strategies to fuel revenue for more than 800 workspace locations across 65 countries, since 1999. We invite you to visit www.PirrottiMarketing.com for more information.
About Davinci Virtual
Davinci Virtual Office Solutions is the global provider of over 900 well known business addresses, great live receptionist services and 3,000+ fully equipped meeting spaces. For more information please visit www.DavinciVirtual.com or www.DavinciMeetingrooms.com or call: 801-990-9200.