The right (and wrong) way to use discounts
What's the best discount strategy?
- Constant discounts and promotions lower your brand value and make your original price feel arbitrary.
- They also condition students to wait for the next sale and never pay your original price.
- And lastly, you need to think about what your discounts look like to students who have already paid. If you go to your most engaged audience and offer them first access, but a week later you promote your course with a 25% discount, how might your loyal audience feel?
Use discounts sparingly and strategically.
If I provide a discount, how does that affect my revenue share with Maven?
- Original price: $1,000; Maven earns: $100; Stripe fee: $26.40 = You earn: $873.60.
- You offer a 25% discount.
- New price: $750; Maven earns $75; Stripe fee: $19.88 = You earn: $655.12.
- The Maven fee is processed immediately (10%) on the amount the student paid. Then Stripe takes its fee (2.9% + 30¢).
How do I create a promo code (coupon)?
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