Finally, a daily deal strategy that makes a lot of sense for wellness businesses.
As you know, I think most daily deal advertising is a waste of time and money that jeopardizes relationships with your current customers.
However, if you match the right product or service to the daily deal strategy, it can work.
This promo makes sense, and here’s why:
Why it’s smart:
- The conference is a one-time event. You don’t have to worry about whether attendees turn into repeat clients.
- It’s in a resort location with tons of capacity, so no need to worry about a flood of discount-seekers degrading the level of service you provide your regular customers.
- An event sell-out usually maximizes profits. The cost of a conference is (mostly) fixed. In other words, it costs roughly the same to host the conference whether 50 people attend or 100 people attend. So selling out all the registrations – even if some of them are discounted – is the #1 best strategy for maximizing your profit. On the other hand, you’ll never make money if you sell a professional service for less than you pay the person providing it – no matter how much of it you sell!
- Travel discounts are common. It won’t enrage anyone to learn that the person next to them paid a lot less. That’s not true for your day-to-day customers, though.
