There is always the belief that spending time on the existing database of the customers, and focusing your target on keeping them happy is quite profitable rather than focusing on creating a new base for the customers. When you are targeting on the deals and offers, you are trying to get your customer back to your store and building a strong relationship with the customer. There would be a scenario where people or merchants need to decide on when and how to go ahead with the discounts.
When you are offering discounts for your online store, then it could be quite a powerful means in your conversions but if they are used in an unorganized manner then surely you are going to do some damage to your brand.
What kind of offers could be implemented?
There are numerous patterns of discounts and offers that are at your disposal. Let’s peep into the details-
- Discount based on a percentage – The common pattern of offering discounts is via percentage. It would be including percentages like 5% or 10% off, larger discounts for really driving the sales such as that of 20 and 25% or some larger percentages such as 50% + to liquidate the merchandise which isn’t moving or is old. For example http://www.citynu.com/list/VivaNDiva
- Discounts of dollar values – Offers that are based on dollars could be positioned as the credit force. In most of the cases, the redemption for the dollar-based offers versus percentage-based offers could be higher than 175%.
- Free gift and shipping – When people are purchasing items they could be offered some remarkable gifts which would increase their confidence. If it is being used strategically it could increase the average order size and help you in liquidating slow money stock.
How and when to use offers, discounts, deals, coupons, and deals in the best possible manner?
There are numerous means which could be used for enhancing sales, discounts, coupons, deals, etc for the betterment. Some of them are mentioned as-
- Weekly/monthly offers for driving sales and meeting goals of revenue – They are known as the traditional sales which are generally used to drive sales into the market. Most often the sales are taken to the month-end or at the quarter to increase the sales and meet the revenues for the projection of deadlines and goals set.
- Prelaunch offers – In case you are in the prelaunch stage or on the verge of starting the company then you could check out the option of prelaunch for the new product. You can utilize the option of pre-launch for increasing traffic and interest in the peak. There are many companies that are using the pre-launch option for enhancing their presence in the market before the launch.
- Seasons/Holiday offers – It’s always believed that occasions related to festivities are remarkable and people are looking out for astonishing and sparkling offers when festivities start like Christmas, Black Friday, Diwali, and New year. Even though the overall year is combined with lots of holidays but there are specific occasions when people flaunt markets and during this time they stretch revenues by offering remarkable services.
- Abandon cart offers – It could be one of the successful tactics for bringing people back. Abandon cart email offers can increase the high conversion rate.
- Newsletter/ Email subscription offer – It has been well known that emailing and newsletters are one of the crucial steps for online retailers. By providing a successful offer in exchange for visitor email addresses, helps in increasing the outcome of the conversions in return you are going to get the email addresses, which will help in marketing new products and providing an opportunity to them in near future. To know more about how to avoid spam when you are sending Newsletter
- Offers for liking, following, and sharing on the social network – One of the difficult tasks is to running the online store’s successful word out. By providing customers and visitors an incentive to share the successful store within their social circles which could be effective means of creating some inexpensive word of mouth.
- Referral offers – People are ready of purchase any stuff from an organization which has been referred by some of their close friends and family members. For enhancing the product sales you could use the option of referrals. You can choose to give the best deals to the person who have referred someone or to both of them which would enable the brand highlighting.
Before deciding on the offers, discounts, deals, coupons etc. every individual needs to check out whether they are going to be beneficial. You can most effectively decide utilizing offers for meeting your clear cut objective, increasing revenues and building customers.
I hope with this information and guidance you will be able to increase your sales in Festival Season. In case you you have any query regarding the same then write back to us at email@example.com. Even you can ask us to create your online store at Retaxis
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