How Giving Offers and Discounts can give you more Business
Offers make us feel special and strengthen our possibility to buy any service or product. Offers and Discounts are everywhere in our daily life, be it in a bus travel when someone offers his/her seat or in a shopping mall when you see 50% discount. It attracts us toward the person, product or service and from there on its all about how you sell your product. Getting customer attention is what every business struggles for and once you have it with your offer, I would not say selling is easy but it’s lot easy when the customer walks in and ask you.
A very common scene in a grocery store when someone just greets and offer you some cookies or candies for taste. So don’t you try? I doubt until you hate them, everyone like to have free stuff. Offers are the best way to boost sales and increase conversion, especially for new products and services it has become a crucial pricing strategy.
Offers make humans super happy and strengthen their buying decision which leads to buying a product or service. I can write over 1000’s of examples when we get offers and many times we buy from them.
Offers make us happy and a happy person will give more time or buy more than an unhappy person!
Once I went to a shopping mall and a cookie shop guy offered me some free cookies on top of the offer it was completely free, I tried and it made me buy because the cookies were good.
The reason I bought because it was good quality and he offered me few cookies to try. Ultimately I end up to become his regular customer and now it’s over 3 years I’m still buying from the same shop.
But just think if in the beginning, he didn’t offer me that free cookie? Obviously, I would not have become his regular customer.
So how the Offers can help?
The answer is simple “people like to experience or get a discount or feel privileged” for example, If a user is at WIFI routers section in a shopping mall, he may also need a new router cable. That’s an opportunity to offer a cable and he may need or maybe not but what’s bad for the offer. It annoying sometimes but there are ways when you don’t need to keep telling the customers to buy this or that but instead just place an offer discount sticker near WIFI section about 35% off on router cables and that’s all in this case.
In case you are new to the business, you have to compete with your well-settled competitors. For new entrants, offers are very effective and with right and strong product/service quality you can easily beat your competitors.
Another example of how offers help customer buy is when you go on Baskin robins counter they offer you different ice-cream flavors for taste and it helps you decide what to try and most importantly it helps you buy the ice cream.
iClinic website received 100% more conversion keeping margins when offered 50% discount for 1st Online Doctor
Flipkart sold over 500,000 Mobile Phones in 10 hours and the reason was Discounts, New mobile launches, Exclusive Offers, Exchange offers and based on users history they offered personalized discounts
Tips on How to offer something without annoying a customer?
1. Do not over do it
2. Personalize your offer to individual needs and do not try to bring everyone under One umbrella
3. Find other ways to offer Discounts and offers
4. Don’t offer something which is not useful at all
5. Do not always focus on selling
6. Make your offer undeniable
7. Do not copy offers from your competitors
If you are a product based company or service it doesn’t matter. Offer your customer free to try product or service and you will see how they turn into your customers. I would highly recommend you to give it a try and see results. Check your earlier sales and compare how giving Offers have increased your conversion and sales.
Give your user few days trial before buying your service. Offer them 7days free grocery delivery before becoming a monthly subscriber. Give your user a demonstration at their home if you are a product seller.
Same size shirt doesn’t fit all and hence no offer is perfect until it’s personalized. Study your customer what they like and what are their requirements and based upon personalizing your offer.
How Personalized Offers help?
The time is over when technology was not efficient enough to offer personalized content or offers in the digital world. Now with cookies, geographical location, user device and previous history we can show them appropriate content what they are actually looking for and based can be offered different offer for different needs.
A single woman is not interested in kids cloth, but a mother will be definitely. Target your customers and offer personalized discounts, check your existing customer list and offer them personalized discounts.
When was the last time you searched Amazon and viewed few products and after that, you still see same product ads and offers on Facebook and many other sites. That’s how Google smart ads work, they pick user searches from cookies and other ways around, what you are looking for and show you personalized offers.
Your product or service offers have to be different for new and existing users.
Tips on how to get more customers with offers –
1. Give trial subscriptions of your services
2. Give discounts and Offer best of your service/product keeping margin
3. Build loyalty program and offer commissions
4. Offer Freemium subscriptions “Works best for services company”
*Freemium is a pricing strategy where you charge for specific features and offer basic features free of cost There is much more in depth on every single element I have written above and in my coming posts on usercible, I’ll show you how you can get most out of them and what best practices can be used to get you paying customers.