Needless to say, promotions are integral part of sales. You see it everyday, everywhere - but how does it apply to your eCommerce store? Because of the different business dynamics of online store, we are placed at bit of an advantage to throw out promotions, isn’t it? To help you decide and execute the right promotions for your website, we have put together these 20 promotions ideas. We recommend throwing promotions regularly, in fact as often as possible. Mixing the promotion with special dates are even better - for example exclusive gifts on Valentine's Day! So, put tight - here we go:
Promote Free Shipping on certain items or even storewide.
Surprisingly (or not thereof), may people are put-off with shipping cost in their cart - a frustration that can cause them to rather buy offline! Recent survey shows that free shipping is the one key factor that influence customers to complete checkout process. It is proven that 93% of customers are motivated to shop seeing free delivery option. Whilst it is not always possible to provide free shipping, promoting it on certain items or even storewide on special occasions will increase your sales throughput and sometimes even generate huge traffic and hence the huge sales!
Promote Buy One Get One Free Offer.
Buy one get one, popularly abbreviated as BOGO is one widely used promotion by almost all store owner. While it is an effective way of getting rid of your old inventory (or let's say outdated fashion clothing if you are online clothing store), it is also an astonishingly good profit maker, in terms of additional sales other profitable items, it can generate you a good profit. BOGO is often applied killer promotional choice for most retailers and shop owners. Study shows that 93% of shoppers have already taken benefits from BOGO and 66% of shoppers would choose it over other promotions like discounts.
Promote Limited Time Faster Delivery
The delay in getting the product after order is another major for people to consider buying offline. While big companies like Amazon are able to promise amazing delivery times, mortals like us have to rely on the logistics of our local shipping provider. However, most couriers/shipping companies do provide expedited delivery. Moreover, if the internal shop logistics are strengthened, time-to-dispatch can be greatly minimized too. A promise of faster delivery as a promotion works well too, for all those shoppers who are put-off by delay in delivery.
Promote Items with Discounts.
Discounts are the most widely used retail practice that is known to motivate a buyer to buy now! Moreover, psychologically, our eyes(and mind) get attracted towards discounted items first! Good discounts on outdated products, discounts on various occasions like Christmas, New Year etc can also lure people to buy in bulk. Because of the sales it can generate, the economy of scale kicks in and the store can end of profiting much more than was possible with regular price! Showing both before and after price on the product is a good tactic. See how boohoo.com display their discount on their products.
Promote Price Reduction - Was $A, Now $B.
Was $A, Now $B is the other way of looking at discounts, but appealing mostly psychologically - because of savings a buyer will be making. This generally works well with bigger discounts, for example, previously $200 and now $90, an intrinsic motivation to save $110!
Promote Revisit - Get X% Off On the Next Purchase.
Promoting discounts on next purchase is a great way of building loyalty and revisits. For an instance, if customers happens to purchase through your online store twice a week, then offer them some percentage discount on any item they would love to buy later. It can dramatically lift their interest to purchase at least twice a week - the basic motivation being able to buy items later with discounts.
Promote Referral Requests and Recommendations.
Recommendations is an effective way to advertize your online business without you having to spend even a penny - with the help of the existing customers. Encouraging people to refer and invite their friends and relatives to purchase by declaring offers in referrals. In return, a free gift voucher worth $X amount or free coupon code or likewise for next purchase in that favor if and only if the referred customers buy. The challenge is on how to clearly state it to your customers but if done right, it will boost your sales dramatically as, like they say, worth of mouth is the best form of advertisement!
Promote Buy X, Get Y with Z% Discount.
Yet another discount strategy is to allow discount on second (or more) products only. Bundling your product right, however, can be tricky. For example; if you are offering discount on tie, if customer happen to buy jeans, then this promotion will have limited scope (or almost null). A good way is the associate related products on the main product with which the discount goes well.
Promote Elsewhere $X, Here $Y.
If you watch your competitors right, and will be able to beat their prices, a promotion like this can help build a great trust in your store. This can certainly generate some buzz too - in your favour. But be sure, you are beating other’s price - otherwise it will make you look stupid and thus lose trust!
Promote Discount on Purchases over a Limit.
Such promotions ensite customers to buy more - in the bid to achieve the discount amount. Ever seen a promotion in Caltex promoting extra discounts on purchase of X amount of chewing gums!
This kind of promotion will encourage your customers spend that extra $10 to get $12 back!
Promote Free Wrapping Option.
Gift items can gain an additional oomph with free wrapping promotion! But, hey, any product can be a gift item, right? It will depend on the situation, occasion and timing for sure, but offering such promotions time to time is a positive way to improve sales. You may go one step further and even offer to include a free greetings card for occasions like wedding, anniversaries, birthdays, new year, christmas, etc.
Promote Offer at First Visit or Sign Ups.
A cool way to attract new customers is by promoting special offer for new customer. But they are not the only one whom you stick to and is concerned about. What about new users and buyers?? Thus, this promotion is introduced and integrated to facilitate new ones. There are always new buyers interested in, to buy through yours (but not compulsorily). Hence, to make it compulsion (in a better way) and alluring themselves to click buy button providing some offers like discount on any items if they sign ups or on first visit would distinctly help to add percentage to your economy growth than before incorporating this attribute.
Promote Flexible Exchange and Return Policy.
The thing that matters and haunts customer is what I am going to do if the product I ordered doesn't fit my requirement. So, clearly mention the exchange and return (if possible) policy. As people are not able to touch and feel their product in real so after product delivered to them if dissatisfaction happen to have, you online retailer are to be responsible and liable to solve this doubt on buyer's’ mind. The major advantage of using this promotion is that it will encourage customer to buy anything without a doubt in mind as they are already well aware that if any ambiguity happens it is easily exchanged and refunded.
Promote Buy Now & Pay Later.
What about you bought a pen through stationery and that retailer tells you to pay later. Surprised huh?? Definitely must. Yeah! I am not kidding though. It may sound little weird but this promotion will drastically help boost your annual revenue, cause everyone will be attracted and shocked to get something and being able to pay later. For this promotion to act in full pace you can offer your customer easy monthly payment option on installment basis. However, you can ask some preliminary percentage of the net worth value for initial payment and offer to pay later with some documents and valuable things being mortgaged.
Promote Coupon Codes
In fact, Advertising Age (the Bible of the advertising industry) reports that 87% of all shoppers use coupons. Another independent marketing research firm, the A.C. Nielson Co., reveals that 95% of all shoppers like coupons. And 60% actively look for coupons. Displaying something like, for every $100 purchase; get 10% off coupon code for next purchase worth $100. This will earn you, at least, $200 for offering $10.
Promote Big Purchases.
Your customers are always at the top of your priority. Motivating the old and attracting the new customers would be the only key factor for you to remain in the professional race. Unless you get no customers how the hell you promote your site it has no use. Cause we are not selling products to aliens. For a customer buying in bulk quantity provide some offers like free membership to the gym, discounts on any items or heavy cash discount. For example to the customers buying worth $500, if you happen to offer in return for the big purchase then they are surely motivated for bigger purchase in future, additionally, will be the source of the advertisement to others which will help in advertisement and finally yield in the better outcome.
Promote Social Causes with Donation.
Addressing customers psychologies and emotions is an effective way to promote your eCommerce site. But be alert about the attributes that turn-offs the customers’ interest too. Stating something like, “With your every purchase worth Rs 2000, 10% goes to the earthquake victim fund” may be one of the numerous noble social cause promotion. This will obviously draw the attention of those who are socially active and conscious group to add the contribution.
Promote Extra Loyalty Points
Without customers your sales and finally will of getting success gets a full stop. Thus, it is necessary to keep in mind about the customers and it is your duty to promote and motivate your customers constantly. Your store always has the bunch of dedicated and loyal customers. For a minute, think why do they shop only through yours? Shocked?? Realize the anecdotes and provide your loyal customers with loyalty points on purchases which will encourage them to be loyal as well in future. This loyalty point can be collected for assisting future purchase easy. Make that points easily applicable on almost all of the product you sell.
Promote Guarantee and Warranty.
Hadn’t you ever asked of or enquired about guarantee or warranty scheme during purchasing any electronics item? Absolutely, you must.
It is natural one. Let us consider an example, a customer bought an iphone, if it happens to work smoothly for some months and later showed any hardware or software problem then just imagine how would that customer go through? Yes, exactly what you think of. He/she will be furious enough and obviously complain the irrelevant and irresponsible services.
So, this is the responsibility of online retailers to withstand that bitter truth, be well aware of what policy to make to sort this things out and provide a better responsive environment to their valued customer. Thus, promoting warranty and guarantee will be the right choice.
It is much more applicable to those retailers selling electronics goods and if you are then provide fixed length guarantee and warranty scheme; displayed in proper manner and see the change. Additionally, providing free installation and maintenance services at customer’s doorstep depict your loyalty and concern about the customers.
Promote Wishlist Discounts.
Wish list contains list of items that customers ever liked or thought of buying. People usually put items on wishlist due to variety of reasons and most prominently they forget. It will be effective, if you can address that wish list’s item and draw their attention again. For so, you can provide fixed discount ranging from 5% - 10% (or as per your company policy) on those items then, it is no doubt that there will be heavy traffic craving to buy through yours and your business personnels will be busy enough than ever.