Offering discounts, deals, and coupons can really boost your conversion rate and help you acquire customer loyalty. But, note that if you use them aimlessly you can do more damage than good to your brand and even affect your profit growth. Don’t worry, here you’ll find the best ways how to utilize them most effectively.
First thing first, there are several types of offers you should consider. The most popular ones are a percentage based discount and free shipping. A dollar value discount is also a very effective strategy as it creates for the customers a fear that they waste their money if they don’t make the purchase. Last but not the least, there’s the free gifts or bonuses which can provide an additional value to the customer.
That being said, let’s see how you can make the offers more effective. Firstly, make sure you use bold and specific headlines that create a sense of urgency. Don’t forget to highlight the importance of the offer. You can also add illustrations to increase the product credibility. When you send an offer, it’s also important to put your logo on it. This builds your brand’s identity, increases its image and credibility.
And now, let’s dive in and see when and how to use the offers.
1. Holiday Deals
All sellers are aware that the holiday periods are the most lucrative ones for all businesses. There are important dates throughout the whole year which are an opportunity for your sales to excel. Christmas, Valentine’s Day, or Halloween-don’t hesitate to make an offer that no one can turn down.
2. Weekly/Monthly Offers
Weekly and monthly offers are traditional tools which are handy when you need a sales boost. When you note that your sales repeatedly decrease, for example at the end of the month or during the weekends, it means it’s time to push your clients a bit.
3. Abandoned Cart Special Offers
Approximately 70% of the customers tend to abandon their cart in the middle of the purchase process. Many reasons can cause this behavior, but for the sellers, it’s important to know that not everything is lost. There are 29% chance that a personalized abandoned cart email offer can bring those customers back.
4. Reward Your First-Time Shoppers
This is the era of the online shopping. Among so much competition it’s really hard to gain new customers. That’s why you should put your efforts into making them loyal clients. And the best way to do it is a special offer for the first-timers. Customers will feel valued and appreciated and will surely come back.
5. Pre-launch Discounts
The pre-launch offers are also a good solution when you are at the launching stage of your business or you’re launching some new product. This will intrigue your clients and make them feel they are part of something special. Offer a special discount for your biggest fans and strengthen their loyalty.
6. Minimum Purchase Discount
This is an effective upselling technique based on the total value of a shopping cart that will increase your conversion rate. You need to calculate the average order value of the previous few months and determine a rate at which you’ll offer a discount or free shipping. The minimum purchase discount applies also to specific product categories and collections.
7.Email/Newsletter Subscription Deal
An email list is a crucial part of your online store. Even in the era of social media, the email newsletter is one of the best marketing strategies. The opt-in number increases depending on the quality of your campaign. And, you can increase that number by adding a tempting offer. Keep in mind that the average email conversion rate is 3.9%
8. Reward Your Social Media Followers
Social media took our world by storm and ever since they are an integral part of every sphere. So, we may as well utilize it. When you make a special discount for your loyal social media followers, you also establish a stronger relationship with them. Moreover, this encourages more people to join your social media and customer army. A promo code, a contest or a giveaway-anything will work.
9. Promotion Through Influencers
It seems like influencers emerge from everywhere. Bloggers or celebrities can reach out to the consumers through their blogs or social media platforms. So, naturally, partnering with influencers is the best way to promote your brand to the large mass. Additionally, if the offer you provide is displayed on the influencer’s network, converting their followers into your customers is just a matter of time.
10. Customer Loyalty Offer
We’ve mentioned customer loyalty several times throughout this article, so you probably got how important it is for your business. In order to keep your loyal customers and build a stronger relationship, you need to reward them. Choose your best customers and send them a personal email with a discount code or special coupons.
11. Retargeting Offers
Retargeting is a very useful strategy that targets only the visitors who are familiar with your store. Offering additional discounts while reminding your customers to come back is often a push and motivation for them to finalize the deal.
12. Exit Intent Offer
Love them or hate them, pop-ups remain the most effective ways to grab the potential customer’s attention. Using this valuable tool, you can convert a visitor into a customer by capturing their attention seconds before they leave. Use an exit-intent pop-up that will present your final offer and possibly lead them to a purchase.
Making savvy decisions is the core to your business’ success. Special offers and discounts look invitingly only when they are used wisely. Get to know your brand, goals, customers, and follow this guide to create a winning plan.