No more turkey, please.
Good, lord, I don’t even like turkey. In fact, I wanted to have an Italian Thanksgiving dinner but that was thoroughly rejected by the family.
As you know, today is “Black Friday” where thousands of business owners slash prices on their products and some on their services.
While I like taking advantage of this opportunity and while it does create a cash-flow surge for businesses, there is a big problem with it. Namely:
Lowering the value of what you’re offering without good justification.
There always needs to be a good “reason why” you are doing a price drop regardless of how you are selling.
From the platform, it can be that the promoter of the event pressed you to give his audience a better price. Even better is that the promoter of the event is paying for a portion of the product or service being sold. (This works great, by the way.)
You might be thinking that Black Friday is a justification for lowering prices. Maybe but it’s weak because everyone else is doing it.
GKIC actually has done it right with the 51% off sales that’s currently running. In addition to Black Friday, we are having a sale because of so much product we have warehoused. This is true but more importantly, it justifies the reason for the sale.
Remember, whenever you do a price drop you need to have a reason why.
Gotta go have a turkey and stuffing sandwich.
Kick butt, make mucho DEEnero!