Some things you should consider
What and why
Before going ahead with discounts, you should think about why you are offering a discount and what you are trying to achieve. By analyzing your goal — like reaching more prospects, rewarding your loyal customers, or boosting sales of a sluggish product — you make it easy to manage your discounts better, thereby increasing your sales.
Essence of your product
You want to offer discounts without devaluing your business brand. Suppose your customers love using your best-selling product and they are willing to pay full price for it. A discount on it might actually make your existing customers reluctant to keep paying the regular price. Offering discounts for the wrong items can hurt your profitability, customer confidence, and sales figures instead of giving you a boost.
Being in the know about your customers' priorities and what drives them is important for discount management. Understanding if your clients are more loss-averse or gain-seeking can help you design discounts that they'll find appealing.
Say hello to Zoho Subscriptions, your subscription discount management software
Custom-make discounts for your subscription business.
Choose the discount type you want to offer, whether it's a fixed amount or a percentage rate. Zoho Subscriptions makes it easy for you.
Select the redemption type for your coupons based on your business needs. Zoho Subscriptions lets you choose between one-time, forever and limited-number redemption types.
Choose how long you want your discount to last. Set a validity period for your coupons and communicate it to your customers.