Offers and promotions, in 2015, have continued to be the megaphones in most successful sales parades in the digital retail industry. When you make the right kind of noise, everyone will sing along and tell their families and friends to join in too. But if it gets too loud or if nobody is out there listening, you might as well have been talking to yourself.
Some offers and promotions manufacture demand while slicing up the average order value. Others push up the order value even if it may reduce the number of transactions.
There are so many ways in which they can be packaged to make them seem more alluring to online shoppers.
With digital retail taking astronomical steps that would make Buzz Aldrin blush this holiday season on the sheer amount of business being conducted, let’s get cracking on a few that can bring the buzz to your eCommerce business.
Get customers to get more customers: Customer referral programs have eager subscribers because which online shopper doesn’t want online store credit, free merchandise or great discounts along with a grateful friend? Sharing is caring for the average online shopper too.
Partner with parachutes: Referral programs are win-win situations when they are safe bets in driving demand. A referral program with the right partner can have you kicking open doors into new customer segments.
Drop the final bait: The browser is your kingdom. It wouldn’t hurt to give the customers who leave them a last-chance offer; a reason to hang around and see what could rekindle their shopping interests. In fact it could lead to significant reduction in cart abandonment and increased conversation rates.
Stay flashy for a while: A flash sale is an offer that is only available for a limited time or as long as the limited stock lasts. By creating urgency in the minds of customers, it’s not just an effective seasonal sales strategy but a great way of selling surplus stock.
Give some and win them all: Coupon giveaways are wonderful ways of thanking customers and getting them to keep coming back. Whether it has to do with their purchases over particular limits or frequency of their visits, it’s a way to keep your loyal customers happy. Also, what better way to win back disgruntled customers!
Promote the games people want to play: Running online contests as a digital retailer can be advantageous, especially for newbies in the industry. While it may not increase your profit margins like the other strategies, it can play a key role in creating a buzz around your brand, heightening customer engagement and strengthening store loyalty.