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The Discount That Ran for a Year Killed His Margin

Part 9 of the growth marketing series. Part 1: what actually moves the needle . Part 2: finding your funnel leak . Part 3: landing pages . Part 4: paid media waste . Part 5: AI in paid media . Part 6: retention flows . Part 7: attribution . Part 8: SEO . Eight posts in, and I haven't touched the one lever that changes every number in all of them — the offer itself. A founder once asked me to fix his ad creative because conversion rate had been sliding for four months. Fresh angles, new hooks, better hooks again. Nothing moved it. I asked to see his discount history instead of his ad account. Every single day, without exception, for over a year: 20% off. Sometimes 25% during a "flash sale" that ran the entire month. His customers had learned something his creative team never accounted for. 20% off wasn't a deal anymore. It was the price. Anyone paying attention — which is most of your repeat browsers — knew to wait, or to feel slightly cheated ...