Do discount codes help or just train people to wait?

[TicketsCandy]

Discount codes. Helpful or harmful?

From TicketsCandy data:

- Events that launch with early discounts see faster first-week sales.

- Events that discount too often see buyers wait and ignore full-price tickets.

- One-time or limited discounts work better than open-ended codes.

Discounts can start momentum.

Overuse trains people to wait.

[DinaLRosenberg]

We do early bird pricing.. not open ended discounts.

Because we curate events with expert speaking staff, we do offer discount "friends and family" codes to the speakers as a incentive for them to reach out to their lists.

[TicketsCandy]

That's a solid combo. Speakers promoting to their networks basically turns them into affiliates without the complicated setup )

[leodaas1321 · Accepted solution]

I agree discount codes work best when they’re limited and well-timed. Overusing them can make customers wait instead of buying. We’ve noticed this approach works better with deals like  , where short-term offers create urgency without hurting long-term value.

[TicketsCandy]

Exactly! Urgency is the key ingredient. Without a deadline or limit, codes just sit there and teach people to wait )

[bonny]

I felt the pressure to join in with sales around the holidays because that's what everyone is doing, right? I gave it a try.  It did generate sales, but with less profit.  The following year, I decided I would not offer sales and received several emails asking when I was going to offer sales for the holidays.  I realized folks were intentionally waiting for sales. 

Thanks to the Square Book Club (currently on pause), I read "Profit First" by Mike Michalowicz.  He articulated why sales aren't a good idea.  His suggestion was to instead offer something else to add value to the sale, rather than reducing the price on an item.  He broke it down by pricing out the impact of the sale on the profit margin versus adding value to an item by bundling it with something else that costs a fraction of the sale margin.  It made sense to give it a try.  I realized folks are preconditioned to respond to sales AND value added propositions.  Simply put, adding value works far better than discounts. 

Bonny Wagoner - Artist/Illustrator

[TicketsCandy]

That's a great approach! We've seen similar results with VIP upgrades or early access perks instead of straight discounts. Keeps the base price intact.

[JUYBoutique20]

I do run an end of the season clearance sale to move whatever product I still have at the end of the spring/summer and fall/winter timeframe.  The great part is I usually don't have much left because my customers know I don't have regular sales.

[TicketsCandy]

That's the flip side benefit ) when people know you don't discount regularly, they actually buy at full price. Then your clearance actually clears inventory instead of being expected. Smart approach )

[Bronze_Palms]

I find that if my business discounts occasionally and at a limited time, we do much much better and don't have people reaching out requesting promos. For that reason, we run a handful of freebie days (for training where it would be free anyways) a year and they run for 8 hours or less and are claimed on the spot in DMs. 

If clients want a discount, we make it worth it to us by allowing for package sales where they pay in bulk for a handful of services at a reduced rate.

[TicketsCandy]

Bulk packages are a win-win, you get the cash upfront and they feel like they got a deal without you constantly running promos.