The Promotions and Discounts Class
How do you run effective promotions and discount offers in your freelance business? And should you even offer them? Today we’ll unpack six types of promotions and discounts, with examples of how you could apply them in real-life scenarios. Join us as we discuss the benefits of running discounts not just on Black Friday or Cyber Monday but at other strategic times in your business.
[0:00] Introduction to the topic of running effective promotions and discount offers in your freelance business – Craig also discusses the question of whether or not you should run promotions and discounts.
[2:43] Black Friday and Cyber Monday – how the holiday season can be a slow time for freelancers and reasons why it might be a strategic time to run a promotional offer that includes a discount.
[4:33] The psychology of running discounts – how creating scarcity and urgency can be effective because our audience is conditioned to pursue opportunities for discounts.
[6:10] Why it’s good to run a discount and who it would be ideally suited to – Craig describes five scenarios when a discount could build momentum in your business.
Six Types of Promotions and Discounts You Can Run in Your Freelance Business
[10:44] #1 BOGO (Buy One Get One) – Craig defines the term and suggests possible promotions you can offer and the benefits of these kinds of specials.
[12:35] #2 Special First-Month Discount for New Customers – Craig explains when you’d offer this promotion, what it looks like, and why it’s effective.
[14:18] #3 Loyalty Discount – Craig illustrates a scenario when you might offer this discount and explains why it’s beneficial at certain times of the year.
[16:29] #4 Referral Discount – Craig gives an example of industries that offer this, how they format it, and how it could benefit your business.
[18:37] #5 Coupon Code Discount – Craig shares an example of what it could look like and why it’s effective.
[20:11] #6 Freebies – Craig defines this type of promotion and suggests the kinds of freebies you could offer strategically.
[22:18] Recap of the six types of promotions and discounts you can run in your freelance business
[23:40] The benefits of joining Freelance University and info on how to join the waitlist so you’re notified about the next registration period
Resources and Tools Discussed in this Episode:
Influence: The Psychology of Persuasion by Robert B. Cialdini, Ph.D.
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