Discounts are a powerful tool that allow you to attract more paid members to your site. Discounts can be used to seduce a customer in various ways. For example:
- Limited time discounts create a fear of missing out or having to pay more later.
- A permanent discount creates a feeling that you are getting a bonus or special treatment for paying that amount.
- Event discounts (holiday, seasonal, show) create a sense of urgency. You might need to wait a year for this discount to appear again.
It is important to keep in mind that discounts affect financial workflows, so by providing discounts, every involved party will be receiving less, i.e. you, billing, ModelCentro, and an affiliate if present. By providing members with a 50% discount to your $100 join option you will reduce the financial chart to the following:
- Billing gets $5 off the top (instead of $10)
- You will receive $33.75 (instead of $67.50)
And so on.
Sometimes, you can create the illusion of a discount. For example, if you want to keep your $100 but make it so it looks like there is a discount – you can create a $120 option with a 20% discount and voila – you still have a $100 option with a discount.
In order to set a discount for any of your existing or new Join Options, you need to proceed to Model Admin -> My Site -> Prices & discounts
You can enable the discount by clicking one of the Join Option’s discount checkboxes:
Once enabled, you will be able to see the Discount details which allow you to create as flexible of a discount as possible:
1. The discount can either be Temporary or Permanent. Temporary discounts allow you to specify dates during which discount will be active. Permanent discounts mean that there will be no date restrictions and the discount will take effect immediately upon saving it.
2. For temporary discounts, you can specify a date range meaning you can schedule your discount for the future so you don’t have to worry about enabling it in time for the holidays or other time-sensitive events like conventions and shows.
3. The discount amount allows you to specify the percentage by which the Join Option will be adjusted. The discount percentage will be displayed on your site’s Join Page.
4. You can choose whether you want your discount to also apply to rebills. This means that you decide whether the discount will count during the initial Join transaction only or the following transactions when your member gets rebilled.
5. The final price simply shows how the percentage of the discount will change your existing Join Option to show the final cost for your members. The final price cannot be lower than $2 due to the bank’s minimal transaction restriction.
6. The discount text is an easily noticeable shout-out on your join page. You can specify discount theme or occasion (for example: Black Friday Special!).
Once everything is set, you just need to apply your discount. You will be able to disable it at any time with a matter of a single click.