These days, it's awfully tempting to consider price reductions or special discounts as a way to keep deals flowing. But before you do anything drastic, stop and think about making some changes in your messaging instead.
In the book "Brand Immortality", Hamish Pringle and Peter Field address the always controversial topic of emotional vs. rational messaging. The data they collected strongly favors emotional messages to a hard-sell approach, even going so far as to state emotional campaigns are twice as likely to generate large profit gains.
They also state that the emotional connection between your customer and your brand can actually reduce price sensitivity and thus create a greater sense of differentiation that will last far beyond a price point reduction.
So instead of slashing prices, use emotional messages to move the hearts and minds of your customers. Not only will you increase your perceived value, but you'll increase your bottom line as well.
Tags: emotional / positioning