Do multiple discounts really work?
Learning Stream’s registration management software has many features that allow its customers to discount a variety of options. Discounts can be applied automatically based on what organizers hope will drive registration or reward repeat business. Some of the most popular discounts:
- Early registration
- Lower fees for members
- Special rates for presenters
- Group registration bonuses such as the fifth person gets in free
- Multiple class registrations such as the third one is 50% off
- Promotional codes for repeat attendees.
Discount options often make business sense. For example, Learning Stream offers its customers a small discount when they pay up front for a full year. It’s worth it to us to reduce time spent on monthly billing. We also give our non-profit customers reduced rates because we think it’s the right thing to do.
We try to keep our discounts straightforward, however, because discounting quickly can get out of hand. Just because you have discounting flexibility in software like Learning Stream doesn’t mean you should use all of it.
The big question when discounting anything is how it affects the perceived value of the offering. The business landscape is strewn with companies that damaged their brand by over-discounting. A current case in point: ubiquitous Bed Bad & Beyond coupons that turn up in the mail more often than utility bills.
Some discount scenarios exist (we’ve seen them) which are so complicated it’s a wonder that registrants know what they’re getting. In some cases, they don’t. Combo offers like a group rate and an early bird special, coupled with a promotional code entered during registration, can create pricing confusion. One offer can dilute the others.
The most effective discounts are limited in use. In most online buying situations, it’s clear only one discount can be applied at a time. And, to guarantee long-term value, such discounts are rarely ongoing.
Want to discuss how Learning Stream can handle your discounting approach? Contact us about that or anything else related to flexible registration software. Our conversation will be discounted so deeply it will be free.