Every business needs customers to survive. The question is how do you convert the browsers and window shoppers into customers, how do we get those clicks to checkout and delivery? It is great and well to have a marketing plan that creates or increases traffic to your store, we then need something that will turn that traffic into buyers.
Offers are one of achieving this goal. We are talking about free offers, reduced-price offers, and bundled offers. All these can go a long way in converting those browsers into buyers. You need to use them in a strategic manner that will not see you running at a loss in the name of customer conversion.
There should be a plan for how you will structure your offers so that they give you maximum profit while satisfying your customers. There are several things to consider when structuring your deals, such as:
- How long it will be for, if the offer is for a limited time communicate this clearly on your promotional items.
- Will it be a regular feature in the future, will you have it at weekly, monthly or annual intervals?
- How are you going to communicate these offers, e-mail, social media platforms, or pamphlets?
- Buy One Get One Free (BOGOF)
Everybody loves free stuff, right? The great thing about this offer is that you can use it to attract new customers, for customer conversion, and to get rid of excess inventory. Your BOGOF offer should offer value and not just trinkets, so you can sell a slow-moving product and pair it with a different product.
This offer should not be a regular feature though since your customers will get used to the discounted prices and not buy for regular prices. Think of how an online casino will have a 32red coupon and once that is used up it’s back to normal, some people will join the casino just for the welcome bonus and not play again and others will stay even after the bonus is used up.
- Free Shipping
This may not seem like an offer but considering that over 60% of online shoppers stick with the stores that offer free shipping, it’s worth considering. Depending on your market most people spend on a budget and the extra $5 or $10 added at checkout is enough to cause cart abandonment. If done properly free shipping can be a successful conversion strategy. You can offer free shipping during a specific marketing campaign or you can offer free shipping on returns, this one works for turning those sceptics into buyers. And the most common one is to set a minimum spend threshold for free shipping, and most major e-commerce stores like Amazon and Shop.com.
- Use Rewards
A good loyalty program can be used for retention and conversion. You can give new clients rewards points after their first purchase, this way they will come back in the future to redeem their rewards or make more purchases to accumulate more rewards. We cannot stress offering value, even your reward system should give value to the customer and must not be too complicated. The best kind is those that give you vouchers or points that can be redeemed against a purchase.
Remember, you cannot dupe your customers and think they won’t see it, today’s customers are knowledgeable and know how to exercise their consumer rights. This is particularly important in e-commerce where the selling and buying process happens online, you must make sure that you don’t over-promise and under-deliver. Also take into consideration the kind of industry you are in if you are selling high-end brand merchandise or offering exclusive services, offering discounts or deals may diminish their worth. Most people equate cheap with poor quality so you have to be creative with how you make the offer.