Visit any popular e-commerce store and you are sure to come across several different discounts, offers, and more. While savings is one of the biggest reasons why people prefer shopping online, there are few promotions that make the deal sweeter for your customers and can help drive more traffic and revenue.
As a matter of fact, promotions are also one of the most effective ways to turn new visitors into long-term loyal customers.
Once you got yourself an eCommerce website, and your store is ready for the launch, what are the different promotions that you can consider?
Here is the top 4:
- Free Shipping
One of the most common reasons for cart abandonment is the additional shipping fee. Many customers just do not complete the purchase when they see the shipping fee added during the checkout process. Online shoppers just love free shipping. If you are looking for more traffic and sales, sitewide free shipping or for a product category can be a great option.
Shh. We all know we are just going to add our shipping cost to our product cost. But shhh let’s keep it an unsaid. When you offer free shipping, it is not necessary for you to pay the shipping costs from your pocket. Simply add the shipping fee to the cost of the product. If you are selling a $20 product with $5 shipping, sell the product for $25 with free shipping. So, even setting a limit to qualify for free shipping enables us to purchase more to get the minimum.
- Free Offers
Every online shopper loves getting things for free. You can consider an offer like “Buy this and get this for free” or something like “Spend $X and get this product for free”. This can be done when the sales of a product category are not up to the mark or when you want to encourage the customers to spend more.
Apart from helping you get more sales and increase the average money people spend on your store, you will also start having a more positive reputation among customers. In the long run, this can prove very fruitful for your online business.
You can consider offering either a percentage-based or quantity-based discount at your online store. While percentage-based discounts can be considered by every type of e-commerce store, discounts on quantity are generally preferred by stores targeting merchants and distributors. Apart from positively impact your customers, such discounts are also an excellent way to beat your competitors.
From attracting new customers, moving existing stock, to reaching your sales target during the slow sales period, these discount offers can be useful in multiple ways. But before offering such discounts, ensure that you first know your exact product margin, breakeven point, and markup. Keep the discounts in such a way that you are still able to make decent profits. If you are new to the business, prefer hiring e-commerce SEO services to effectively implement this strategy.
- Reward Points
A lot of online stores have had great success with loyalty programs where the customers get to earn reward points for their purchase. When the customers see that they are receiving reward points for their purchase, your store would soon become the go-to option for them every time they are looking for a product you offer.
You can also think about creative ways in which the customers can redeem these points. You can offer them discounts based on the reward points they have and even offer bonus reward points for collecting a number of points.
When Should You Use Promotions?
There is no right or wrong time to use these promotion strategies. You can use them as per the needs of your online store. But they are generally known to deliver better results for:
- Holiday seasons
- Pre-launch of a product
- Newsletter offers
- New customers
- Loyal customers
- Increasing engagement through social networking platforms
- Reducing cart abandonment rate
How Can Professional Online Store Developers Help?
With the availability of platforms like Shopify and WooCommerce, you can now create an online store yourself with zero coding knowledge. However, it is always better to hire professional e-commerce website developers. From creating promotional strategies, SEO, inventory management, creating product pages and handling payments, their expertise in the industry is sure to help you in many ways.
Amid this cut-throat competition, the guidance of professional developers is necessary to make your online store successful. Having a hand to implement some of these can massively grow your business.