How many Ways to Use Offers, Offering discounts for your store, Coupons, Drive Revenue and Customer Loyalty, Types of Offers, When and How
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Sales, Offers, Discount, are those magic words which increase thrill, passion and creare curiosity in our mind about brand and Product.
Discounts/ Offer are something everybody desire, especially when people want to buy a certain products, services and most of people even not afford such a high cost product/ Services, so they always looking for Offers.
There will come a time when most of business will be faced with the decision of whether to offer discounts, when to offer discounts and how much should the discounts be worth.
Offering discounts for your store, MBO, beauty parlour or spa, cafe or restaurant, Gym or fitness centre can be a powerful weapon.Offers, Coupons, Discounts connect with your business. Once people are aware of your product or service, you want them to start thinking about it and looking for more information via website or link or mailer.
Who Are Offers Right For ?
Discounts/ offers are not only a way to acquire new customers, they’re also a way to show your gratitude to your existing customers.
If you want to position yourself as a higher end brand or if you have slimmer margins, you may want to consider sticking to customer loyalty type offers as oppose to weekly sales. On the other hand, if you have healthy margins deep discounting and daily/weekly sales might be better for hitting your goals.
Types of Offers
There are several overall types of discounts and offers you have at your disposal.
Percentage ( % ) Based Discount
The most popular way to offer discounts is percentage based discounts. This can include small incentive percentages like 5% or 10% off, larger discount to really drive sales like 20% and 25% or large percentages like 50% and more to liquidate merchandise that isn't moving or old.
You can also easily apply these discounts to multiple collections, products.
Rupee Value Discount
Offers that are based on a Rupee value can be positioned as a credit. This makes people feel like they're wasting money if they don’t use it.Shopping is an art today is considered to be the smart consumer who charges the most for his money. Shopping has been using the time to be really the art of bargaining, customer wants to save his hard-earned money.
An easy trick to keep in mind when deciding between a percentage or fixed amount discount for a specific product is the rule of 100. If your item is more than rs100.00, use a fixed amount discount. This is a psychological trigger
Free Shipping Home Delivery
free Shipping / Delivery is a great way to mitigate this and increase conversions. Use Free Shipping discounts in conjunction with a minimum purchase requirement to increase your average order value. You can also limit this discount type to specific countries and groups of customers, and avoid cutting into your margins by excluding ship
1. Weekly/ Monthly Offers to Drive Sales and Meet Revenue Goals
These are traditional sales used to drive increased sales. Many times sales are used at the end of a month or quarter to increase revenues to meet projections and goals.
2. Prelaunch Offers
If you're still in the prelaunch stage of your business or maybe even launching a new product, you can use prelaunch offers to help drive traffic and peak interest.
3. Holiday/ EOD Season Offers
Diwali, Holi and New years are the big ones, but the whole year is sprinkled with holidays that you can use to stretch revenues with offers. dont forget about the seasonal sale.
4. Email/Newsletter Subscription Offer
By providing an offer in exchange for visitors emails address, not only do you increase the chance of a conversion, but you also get their email, providing you with the opportunity to market new products and offers to them in the future, thats increase walk in means new opportunities With comes increased sales
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How Many Ways To Use Offers
If you want to position yourself as a higher end brand or if you have slimmer margins, you may want to consider sticking to customer loyalty type offers as oppose to weekly sales. On the other hand, if you have healthy margins deep discounting and daily/weekly sales might be better for hitting your goals.
5. Following and Sharing On Social
Exclusive offers on your social networks can be a great way to build a strong relationship. Giving visitors and customers an incentive to share your store with their social circles can be an effective way to create some inexpensive word of mouth.
6. Referral Offers
People are much more likely to purchase from you if referred by a friend or family member. Use this to your advantage and use offers to encourage referrals. You can choose to give a deal to the person referring, the person being referred or both.
7. First Time Shopper Offer
8. Minimum Purchase Discount
An offer based on the total value of a shopping cart is an effective upselling tactic to encourage customers to spend more. You can also offer minimum purchase discounts for specific collections and products. If there's a particular collection you want customers to focus on, try adding a minimum purchase discount to incentivize your audience.
9. Customer Loyalty Offers
Rewarding customer loyalty can help build an even stronger bond while also only providing discounts to customers, It can be as simple as sending your best customers a personal email with a discount or credit.
Discounts/ offers are not only a way to acquire new customers, they’re also a way to show your gratitude to your existing customers.
10. Influencer Offers (Bloggers, Celebrities etc.)
Partnering with influential people that have large audiences is a great way to increase exposure to your brand and by providing an exclusive offer to the influentials persons network, you're more
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