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What is the difference between a discount and an introductory price?
I get this question a lot because one of my values is never to discount my products. My mantra is full price or free. Nothing in between.
I don’t want to discount my products because it’s a slap in the face to my loyal buyers—the people who buy from me early.
Imagine how you would feel if you bought a product and the very next day you saw that it was discounted. You would feel duped.
That experience makes the customer feel stupid and I never want to make my customers feel stupid. I always want to reward that loyalty.
If someone buys from me early, they should get the best price.
I always want my customers to feel smart. The people who buy from me early should be rewarded for that loyalty.
I will often reward that loyalty by debuting a product at an introductory price. Later on, I increase the price, but that price increase is always permanent.
This is the difference between a discount and an introductory price:
A discount punishes early buyers while a permanently increased price rewards early buyers.
As long as you create products that provide many times more value than the price, you have enough headroom to increase the price and the price increase must always be permanent.
Discounts devalue; permanent price increases reward early buyers.