How To Discount And Make Money (Whiteboard Edit)

How to discount and trigger sales. How to respond when a client asks you to discount. What should you say when you're asked to discount your services? Are there exceptions to when it's okay to discount? How principles like: anchoring, scarcity and urgency impact your decision to buy. The psychology of buying and price.
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00:00 - Start
00:25 - Why You Should Never Discount
01:00 - Exceptions to Discounts
02:00 - Tip Buying in Bulk
03:45 - Tip Telling A Good story
04:05 - Tip Early Payment
05:00 - How Nike Charges For Shoes
05:15 - Anchoring
06:30 Tip How To Use The Anchor Bias07:00 - Scarcity in Time
07:40 - Scarcity in Quantity
08:00 - Decision Making
08:40 - The Reverse Sale
11:00 - Tip How To Use The Reverse Sale For Yourself
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Host: Chris Do
Content Director: Matthew Encina
Producer: Mark Contreras
Cinematographers/Editors: Stewart Schuster, Ricky Lucas, Jona Garcia
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Typefaces: Futura, DIN, Helvetica Now, Calibre, Knockout, Champion Gothic

[@TheToneWork]

I was already typing, "You said never to discount!!!" Great video after qualifying the exceptions.

[@LennyYT]

You should upload the audio podcast to KZbin. You’d be surprised on how many people listen to KZbin audio instead of going to another app. Not that you should do one or the other but your KZbin fans would appreciate it.

[@thefutur]

we will have to look into this.

[@ayushkumarchandra]

Exactly!

[@Martinit0]

Seconded!

[@Mithferion]

@@thefutur Thanks

[@prhasn]

totally agree. often times I forget to open Spotify when I am on desktop.

[@vassilisstergioudis30]

I use another method that you did not mention. When they want to save money and have a discount, I send them another proposal which requires the payment up-front. All of it. When a project price is at 10k, I get down to 9k if they pay me upfront. And I need to tell you that whoever agrees, he's a serious man and the cooperation is smooth. All goes well. You should try this too Chris.

[@aidenstone]

Got excited then realized i already watched. Still great content on how to discount the right way for those who haven't seen!

[@thefutur]

Thank you

[@ayushkumarchandra]

Exactly!

[@Faylayx]

How to discount? Me who has seen the other videos: “Never, of course!”

[@thefutur]

there are exceptions

[@sofianealloui]

@@thefutur Masters ♥

[@Faylayx]

@@thefutur Of course :) I was trying to make a joke but the other comment by Paul Martin "I was already typing, "You said never to discount!!!" Great video after qualifying the exceptions." summed it up perfectly. Keep it up and thank you for the amazing content!

[@Pewdieguey]

I believe this concept to work in many aspects of a persons life.🚀. Thank you to Chris and the team🙏🏽

[@djvenkymusic5275]

Always glad to be a part of your class🙏

[@thefutur]

Always welcome

[@sadaffarsa6058]

the futur is in my 💜

[@nabilc1667]

Love your videos Chris ❤

[@itsamaniarts]

Oh! I remember watching this!!

[@maxwellharmon4172]

this video is awesome! Please make a video on coordinating a merch drop or product drop. cant find much on this subject. you made a vid on this topic a few years ago but it was focused on a class or service instead of merchandise/ product. thanks guys. keep killing it!!!

[@prhasn]

Excellent strategies. Thanks for sharing them ❤

[@mustafaj.fteita4859]

Thank you so much Chris ❤️

[@deermath1221]

It’s awesome ! Really useful. Thanks.

[@MarketingHarry]

Every rule is made to be broken. What a deep dive and super useful advices. Thanks for the knowledge. 😉

[@swarajbachu]

Bro your new profile pic doesn't look that good bro

[@MarketingHarry]

@@swarajbachu Why do you think so?

[@thefutur]

Glad it was helpful!

[@chrismcmorrow9738]

Very insightful. Thank you so much.

[@unmiss-com]

Don’t chase money - chase achievements!

[@jaynotjoe7589]

The price you charge reflects the value of your brand, I guess its about percieved value, discounting is about meeting short term sales goals , and it says to loyal customers that the brand is usually priced to high, that attracts price sensitive customers, and you fail to appreciate the value the brand represents to its loyal customer base. I think price represents more than just money from a sale, it represents the core value of your brand and its promise. Expanding the appeal of the brand will also reduce the price of the brand which directly impacts the Brand's value and that has long term consequences, as the price erodes so does the brand, Superdry is a good example of this, they never had sales as they never wanted to bring the brand's value into question, and then they did it, whether to gain market share, increase sales volume, whatever the pressure was, it diminshed the brand in my opinion and confirmed to me that the brand is not worth much anyway. I used to wear Superdry clothing, but I realised the quality was awful and they dont care about that, but you pay a premium for price it. That's lying to customers and you can never regain their trust once you lose it, maybe with a good story.

[@polofreeze1258]

Great informative

[@RexTiredAF]

Have zero business sense but work in service industry and these are an incredibly interesting look into how our numbers work.

[@jimmyhybrid]

😳 WOW ! tHis viDeO iS aMazINg! ThAnK yOu! (I had my typography course in Russia 😃)

[@matthewdeery]

This is fantastic.

[@JTCoinRings]

Awesome !

[@Oinnk]

Yep!

[@jordywordy5051]

Question: Is there ever a right time to charge higher? £100k is a crazy number, but you're an agency so it makes sense. You can't charge that as a sole designer, right?

[@thefutur]

Sure you can.

[@mmcatamm6668]

I feel like this works outside of design sales... in getting research gigs it is similar too!

[@thefutur]

Agreed

[@animatoroneill5948]

The last REAL video produced before The Shorts came along and killed this channel. RIP

[@LennyYT]

Love this content but why not package it all Lynda style. Pro group and all the courses.

[@tameyourmonkeymind3382]

Love you videos, you have inspired me to start my own chanell 🥰

[@thefutur]

I'm so glad!

[@tameyourmonkeymind3382]

Thank you soo much, I hope it works out 🤞

[@rodolfo_barreto]

It's written "Cyber Monay".

[@thefutur]

Haha. Good one.

[@rodolfo_barreto]

​@@thefutur Do I deserve a discount? ;)

[@flinkbranding]

Great video Chris! Very helpful. (wondering though... why is it changing from color to black and white and back?)

[@thefutur]

it's to highlight a lesson for key idea.

[@zsbaranyi15]

my guess is, when he is telling a "tip", like a real life situation, he wants you to be able to tell it apart from the explanation.

[@liizzset]

Beside everything else, thinking the pre launch is when you have an audience. Or a email list. Or loyal clients. From my experience. Overall, information is best advice.

[@AjalaKingsGreenstream]

who would even dislike this? must be someone who never got a discount .

[@thefutur]

Haha

[@OscarObians]

A client from hell

[@zubairkhan3043]

I liked your cap and black t shirt how can I get them ???

[@thefutur]

Go to godisadesigner.com

[@ElvisbreslyGeorge]

❤❤

[@brianfong5711]

Only give discounts with strings attached.

[@thefutur]

Haha. Yes.

[@BillAngelos]

unfortunately I never got that email about a price increase and only found out about it like 2 days before I was actually going to buy the course. I never did buy the course at the higher amount.

[@thefutur]

Were you on our email list?

[@swarajbachu]

I think this is already done video..Bro may it's clip from a older video right????

[@thefutur]

yes. the title says "whiteboard edit"

[@swarajbachu]

@@thefutur yeah actually I watched it recently

[@zubairkhan3043]

I love your cap God is designer please I want to buy tell me how to buy I am your big fan from Pakistan. I live in a small village we have less Internet facilities.

[@thefutur]

godisadesigner.com

[@ninghua5312]

OK, So trade discount for something

[@felicianomario]

The problem with these techniques you mention is that you violate your integrity/honesty and deceive your customers. That's why I find it hard to join sales, I feel it's at the same level as being a lawyer. Creating arguments to persuade even if it means deceiving.

[@the_fluffychan]

first？

[@sureshshaw3194]

Well confused 😕

[@thefutur]

how come?

[@sureshshaw3194]

@@thefutur i am a simple man i saw the thumbnail but now i am not ,exception are always thereeeee

[@soejrd24978]

Don't want to be a downer, but this channel has really transitioned from an educative perspective to "more money more money". Maybe it's because I've lost my interest in capital, but it feels so shallow. You were all about passion and authenticity, where did it go?

[@thefutur]

what educational passion videos are you referring to? we have a separate channel on art & craft called The Futur Academy.

[@soejrd24978]

@@thefutur I'm refering to the content you put out ~4 years ago, after Chris and his partner split up.