How to Generate Sales with Offers and Deals
In an effort to promote your brand and generate sales for your business, you’ve likely thought about (or already implemented) special offers and deals. Did you get the results you wanted?
Despite what most consumers may believe, a lot of thought and planning goes into these kinds of promotions. Before we get into the different types and timing, let’s first define the difference between an offer and deal.
Deals are conditional. This means that you only get the deal if you satisfy some predetermined requirement. For example, a BOGO (buy one get one) promotion is a deal because you must first purchase a product to get the discount on the second item.
Offers are unconditional, meaning you don’t have to spend extra money in order to receive the discount. For example, get 25% off all men’s and women’s accessories is an offer because you don’t have to make an additional purchase to get the 25% off.
That being said, both offers and deals provide extra value (and incentive) for consumers. This will drive traffic to your store and/or website while prompting purchases. Consider what kinds of promotions you want to use carefully, and pay special note to the timing of each offer.
For example, if you’re launching your brand or a product line, you should implement special launch deals. You may even want to align your kickoff with the start of a season to give your brand more identity, such as refreshing and colorful like Spring. Launch deals paired with seasonal offers will catch your customers’ eye and entice them to make a purchase.
If you’re wanting to encourage online traffic and sales, you can incorporate special offers that do just that. Exclusive online-only content, online purchase incentives, and cart abandonment offers are just some ways to boost your ecommerce site.
It’s also a good idea to reward customers’ patronage with first-time buyer deals. Compel them to come back for more deals and discounts by joining your loyalty program or subscription service. Consumers will likely sign up provided that its low risk.
Infographic: How to Generate Sales with Offers and Deals
You can bolster any digital or traditional marketing strategy through the use of offers and deals. Check out this fun infographic from Wikibuy to learn how.