Be extraordinary or else.
Extraordinary things create demand. Businesses that are extraordinary don’t have to discount to generate demand – they're remarkable instead.
In our neighborhood there are a few local restaurants that have great food, a unique experience, and friendly employees that get hospitality. No matter the price point they are busy. No one wants to eat at an empty restaurant – it’s empty for a reason.
Many businesses that aren’t great enough to be busy have succumbed to online discounters like Groupon, LivingSocial, and others to generate demand.
The cost is high. One restaurateur admitted the net proceeds are 25% of retail after the discounter’s cut. In his business that doesn’t cover his food cost. This is not a sustainable strategy. A spa marketer mentioned that a client got hit with a coupon demand they couldn’t service and had unhappy customers. Unhappy customers tell friends.
When you’re extraordinary the price is the price. Create demand by being extraordinary or else.
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