Discounts: Do They Generate Enough Revenue?

Posted on 8/10/2017 by Jim Pickerell | Printable Version | Comments (2)

A reader has pointed out that Image Source is offering its customers using the promo code AUG50 a 50% discount on any image purchased during the month. Cavan Images is also offering a 25% discount all month if customers use the discount code CAVAN25. Will temporary discounts bring in more customers and result in more sales overall?

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Jim Pickerell is founder of www.selling-stock.com, an online newsletter that publishes daily. He is also available for personal telephone consultations on pricing and other matters related to stock photography. He occasionally acts as an expert witness on matters related to stock photography. For his current curriculum vitae go to: http://www.jimpickerell.com/Curriculum-Vitae.aspx.

Comments

Anthony Harris Posted Aug 11, 2017
Hi Jim,

Discounts of this level are designed to create interest amongst clients who have never purchased or have not done so for a long time. We have had great success in the past bringing back customers looking for premium content and then worked to establish longer term relationships. Price sensitivity is an issue that we all have to contend with and which we have a number of tools to address. Discounting both offered proactively and reactively is just one of them.

Regards

Anthony

Anthony Harris Posted Aug 11, 2017
One other thing to bear in mind from a photographers perspective is that even at a 50% discount the royalty payable is higher still than if we lose that sale to an agent who takes a large royalty before passing on to us the net.

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