Discounts have long been a popular way to incentivize customers to make a purchase, but implementing a discount program without careful consideration can do more harm than good. The key for any business looking to offer discounts is to strike the right balance between frequency, target audience, and discount size.

To create a successful discount program, the first step is to establish a clear objective. Whether it's to reward loyal customers, promote a new product or service, or increase brand awareness, but the key having a well-defined goal. The benefits of a well-executed discount program are many, including attracting new customers, increasing sales, generating demand for new products, offloading excess inventory, and improving brand reputation among certain demographics. However, it's important to remember that discounts should be used strategically and sparingly, and not relied upon as a long-term solution.