Offering discounts for your online store can really be a powerful tool for boosting sales, clearing old stocks, increasing conversion rates, and, most importantly, engaging with customers. Discount codes can be an extremely efficient way of achieving this. In this post, we discuss various techniques of offering such discount codes to successfully boost eCommerce operations.
Let’s dive in!
- Offer special prices for products
It leaves a seamless and convincing impact on the psychology of the buyer and increases chances of conversion.
- Static Discount Codes
Welcoming buyers at the entry points on “brick and mortar” store is a norm at most places. This has a refreshing impact on customers. Same goes for online stores. Discount codes can be an effective tool to do so. Fancy banners on the homepage of your website, advertising special offers with promo codes, or intermittent pop-ups with lucrative deals, can drive sales and instill a sense of urgency in the buyer. This approach can convert mere browsers into buyers.
- Conditional Discount Codes
This presents a win-win situation for both seller and buyer. This can be based on the volume of product purchased, product genre, a predefined time duration, particular group of customers, purchase store (online or offline), minimum purchase amount etc. It boosts the sale according to the requirement of seller and also benefits the buyer. For example, seller lowers its per-unit price if the buyer agrees to purchase a certain number of units from the seller.
- Dynamic discount codes
This approach is about engaging and attempting to extract visitor’s information to track campaign progress and also trigger further engagement with them. The seller also poses certain terms and conditions like “Enter e-mail” or “Subscribe to newsletter’ for the buyer to avail the code and hence leaves it for the customer to decide.
Using such discount offering methods as per requirements can drive sales and customer engagement to a whole new level.
Thanks Arnab for penning this out.