If you make a 2 hr appt and the special for 1 hr is 60 discount does that count as 120 discount to guys? Is that how you see it or no?
Is a 2hr appt discount advertised better than a 1hr discount appt advertised? Which catches your attention more?
Originally Posted by Lovely Jessica
To answer the question directly, the best discount is 100%, anything lower than that loses value - ok, just kidding. But yes, your math is correct on that post and should be how i would calculate my rate for 2 hours if i see a special.
What is a good rate depends on so many things that big companies spend millions with several mathematicians and number crunchers just trying to figure that out. Graphs of supply vs demand are employed and price determining mechanisms are some of the most complex business analysis out there.
One way of determining price is what you are doing, surveying the consumers, and to me, that is valid (sorry Brooke, it is not a lame attempt but a proven technique in determining price). You will get answers like yes, it is good, and no it is not enough, or it is too much, then you have to decide who to listen to. In short, there is no straight answer, my advice, specials are a way to gauge the market to see where demand meets supply. In this case, supply (your time) is limited and demand changes with price, so use your specials to determine the best price and stick to it until it does not work anymore, and keep tweaking to ensure your business is thriving. Consistency and comparability are good things in this industry, so use your industry knowledge to know that if you offer a discount, some people may never accept your regular rate, so i would use a discount to keep existing consumers and be sure to know that they will be willing to pay both the regular rate and the discounted rate, and if you are not comparable to the caliber of women your type, you will not fare well. See how complicated that is? even i have not given you a straight answer!!!
Wow, i need to stop this- i cant imagine me giving such advice on a board like this one. I do this for a fee you know.