A registration season does not pass without hearing about the latest and greatest new discount being used in adult and continuing education programs. From buy 2 get 1 free to across the board discounts for quantity purchases, the discount formats are almost as varied as the organizations themselves. But do they work?
Over the years, I have seen numerous programs offering discounts primarily because they always have. In other words, tradition. So why offer a discount if the only current measureable result is having less revenue because of the discount than if you had not offered the discount at all? Why offer a discount if it does not meet a legitimate need?
It might seem counter intuitive to think that raising prices can also raise sales, but the truth is it is possible. Of course that doesn’t mean you can increase pricing just because you want to make more money. To receive the most benefit out of an increase, you need proper justification…