Offer, discount, gift, words and concepts that will surely make your eyes stop! Let alone if it’s a product or service that interests you,
you’ve looked, you’ve seen the prices on the market and “this” opportunity appears in front of you, just what and how you want it, luck? By a mechanical god? Santa Claus earlier? No, targeted promotion and proper implementation of the digital marketing strategy of the brand in question.
Let’s look at the data from the beginning. Supply = Increase in Sales. On purpose, profit increase is not mentioned because although they are interrelated most of the time, a bid that is not set up properly can even cause a loss to the business. On the other hand there is also the category of brands that want to follow a more luxury strategy, “there are no discounts on luxury goods” could be their motto. Indeed you won’t see the Ferrari 1+1 gift, but let’s be objective and rank our product realistically. No a smart offer does not degrade the value and quality of your product/service, it just pleases your customers who in this way receive the reward they need. On the other hand, if the public has your product intertwined with an offer, the chances of them buying it at its normal price are reduced to a minimum. Many times when the public is not loyal to brand one, they may buy a similar product for the same use from competitor one, which at the time you did not have an offer you had one. So it is a very fine line and it takes constant study of the market, competition and trends to implement the right actions that will lead the business to profitability.
Which type of offer is the most suitable for your business?
1. Offer with Discount
Clearly the oldest and best known way of offering that has not lost its momentum since the reduced price is always attractive. Price reduction at every opportunity in physical stores and e-shop. It is a way to keep the public on their toes, to have something to look forward to even if they feel the need for a product or service because of the lower price.
2. Offer 1+1 Gift
This free product condition applies to products of usually low value but it is still so strong in terms of purchasing power that products are now created to be sold only on offer.
3. Product/Service Purchase Offer with Gift
It usually has nothing to do with the genre and just being included in anything verbal or graphic, it has gained the attention of the public. Of course, the best possible thing is that the gifts given to consumers should interest them, have relevance to the original product of the business and motivate them to learn about other products-services of the company.
4. Product Bundles
The Bundles of Products or Combination Products is a sales technique for the company to achieve the cross sale or the up sale and to give the customer the satisfaction that with a combined purchase he won a discount and therefore achieved a better one. Examples of such techniques can be found in many product categories such as clothing where a set of blouse and trousers gives a better price than if the customer buys it individually. They can also help to “unload” stock by tricks such as having in the bundle a more fast moving product with one that does not show the same demand. It’s a type of offer that we see in both e-commerce and traditional commerce.
5. Discount Code
It is a type of offer usually seen in e-shops, although it is also often found in the form of printed coupons. If used properly it can have many benefits for the business such as increasing sales and customer loyalty. Surely you have seen “Subscribe to our newsletter to save 10% on your purchases” or “With purchases over X euros gift coupon discount of 15%”, these are techniques that motivate the audience to make purchases in the first case and in the second to more easily increase the amount of the transaction. This technique gives the audience the satisfaction of buying at a discount, but beyond that they also help the business significantly by collecting user data such as their email or mobile phone, which can be used at a later time in audience retargeting campaigns.
Whatever type of offer you choose, it is not enough to have only the “possible” offer to be effective. An appropriate promotional strategy must be set up and implemented to “communicate” it to the right audience and convince them to go to market. At Astrolabs with the help of our Digital Marketing Experts from our Digital Marketing department, we can set up the right Digital Marketing Strategy that will help you increase your sales either online or in your physical store. But don’t delay because the highest selling period of the year is here! Take a look below…
● Mid-Season Sales: 1 to 10 November 2020
● Black Friday: 27 November 2020 (although Black Week is now established)
● Cyber Monday: 30 November 2020
● Christmas offer period: 1 – 31 December 2020
● Winter Sales: 11 January to 27 February 2021
How well prepared is your business to win?
P.S. Does Lockdown scare you? Let’s talk about your new eshop!
