How to create offers for your business? When you have an online business, there are many objectives you have to meet. However, the most important one will always be conversions. For this, there’s nothing better than creating offers for your business. You must know how to use these correctly, or you won’t have the best results.
Nowadays, offers are used by most brands with products or services at their disposal. Because of this, if you plan to use them, you must do so in the best way possible.
How to use offers? You don’t have to be an expert to use offers. All you have to know is when it’s the right time to launch one. This way, you will grab the attention of your clients and increase your conversions.
In the same way, you must also understand that offers can have both advantages and disadvantages depending on how you use them.
Advantages and disadvantages of offers in your business
Once you have decided to include offers in your marketing plan to increase conversions, you should be aware that this type of mechanism can have its advantages and disadvantages. Thus, you may think that an offer is only about offering on your business, but it is not. This element implies several characteristics that you must know before you carry it out.
Advantages of the offers in your business
We start with the advantages of the offers that you can enjoy if you apply them correctly in your business:
- They are easily traceable.
- They cause greater conversion.
- Simplicity to implement them.
- Growth in customer loyalty.
Disadvantages of offers in your business
As you can see its advantages are worth it for your business, however, it can also bring with it some disadvantages if you don’t use them correctly:
- Possible losses to the brand.
- Decrease in profit margins.
- Probabilities in order reduction.
Types of offers for your business
Offers are a very efficient tool within any marketing plan developed for your business. This is because you can get more customers and at the same time increase the loyalty of those you already have.
It’s likely that during the creation of your marketing strategies you didn’t include this tool. However, it can be added to be carried out on specific occasions. Deals can actually turn your business around and lead to higher customer loyalty if your margins are low. Also, the different types of offers and discounts allow you to get closer to meeting your goals.
What is the right offer for your business? There are several types of offers and discounts that can be very useful for your brand:
This is one of the most common offers in any business.
So, if you want to use it, you must first take a percentage of your product’s price. It doesn’t have to be too high, starting from 5% is enough.
However, you can still offer 20% or 25% discounts with no problem.
On the other hand, other brands have been riskier and have created 50% discounts.
Most customers leave the purchase process when they see the amount they will have to pay for the shipment of their order.
That’s why, if you want to increase your conversions, you should offer free shipping.
Of course, you can add a requirement between your conditions such as a minimum purchase amount to achieve a considerable increase in your orders.
Fixed Amount Coupons
This option is also widely used to offer discounts using a fixed amount for a minimum of purchases. For example, you can offer $50 discounts for a minimum purchase of $300.
To add value to the customer, you can offer them a gift along with the purchase.
This is also a good strategy to get rid of products from past seasons.
When is the right time to use offers in your business?
Offers can be used in many ways and on specific occasions to take advantage of them. So, if you want to increase your number of clients, you can follow some of these options:
Weekly or monthly offers
To boost your sales, you can carry out weekly or monthly offers. For this, you can set a discount date to the last day of the month or a three-month period to meet sales targets and increase revenue.
In fact, there are very famous brands that offer weekly discounts or send promo codes via email.
There are seasons when offers fall wonderfully to users who prefer discounts.
For example, during winter or Christmas, many brands make incredible promotions to increase their income.
Besides, seasonal offers are the most suitable for the sale of products with a larger amount of stock.
If your business is still in the pre-launch stage, you can use these offers.
They are also very effective when launching a new product because they’re able to drive traffic and quickly attract the client’s attention.
Some brands have been able to get a lot out of pre-launch offers, providing free products to those who shared their website before launch. This is an excellent strategy to increase the number of subscribers.
Cart abandonment offers
Some customers abandon the cart after completing their purchase process, so these types of offers are great to attract them again. For example, if you use email marketing, you will surely offer a monthly subscription service to your customers.
Therefore, you can use this medium to send emails to those users and offer them a discount percentage 24 hours after leaving the cart.
This way, you can encourage them to return to their purchase process and reach the final stage.
Email subscription offers
Online businesses that have not yet compiled a subscription list are lagging behind the competition.
By making use of these offers, the idea is to offer a discount in exchange for obtaining the customer’s email to increase their conversions.
Best of all, this way you will find a contact to whom you can send information about your products and the offers that you plan to implement in the future. Well-known brands in the world of technology have made use of these subscription offers with great success.
Offers by reference
In general, users who will make an online purchase prefer to trust a business that has been recommended by a family member or friend. So, you can take advantage of this point to incentivize these recommendations by offering these offers.
Some brands have decided to give this type of incentive to customers who share their purchases with their friends or family.
Likewise, they offer a discount for the first purchase.
Offers to follow on social media or to share content
Making your brand known is not easy at all, so your marketing plan must be well-thought-out to meet your objectives.
For this reason, if you have an online business, you can offer your clients or visitors an incentive to share it with their friends or family. This way, you will take advantage of the form of publicity known as “word of mouth”.
Brands in the makeup sector have been very astute when using these offers. For example, most of them offer large percentages of discounts on their purchase for following them on their social media.
Exclusive offers for social media
On social media, you can see the interaction of a wide variety of online stores.
Because of this, one of your brand’s objectives should be to build a strong connection with your current customers and those who are to come.
For this, you can start including offers exclusive to your social media.
For example, you can offer gifts to your Facebook fans in exchange for a minimum purchase.
First purchase offers
In a previous point, we told you about offers for the first purchase, since they’re a good option to encourage users to buy from your online business.
These types of discounts can be 5% or 10%, depending on your objectives.
And as an extra incentive, you could also offer free shipping along with it.
Cart volume offers
Do you want to apply for an effective offer in your business? This is a great tactic, as customers can be encouraged to make a larger purchase. As a strategy, you can calculate the average value of your client’s past orders during previous months.
Then, you can offer discounts on those orders that exceed the total percentage of that purchase.
This percentage can be valued between 10% and 20%, and to draw even more of the customer’s attention it can include free shipping or a discount for a minimum purchase on certain products.
Offers by exit intention
Your goal should be to get leads to increase sales.
For this, you can create a second offer before they leave your site.
These kinds of offers should come out when the customer is about to leave your website.
For example, you can submit a purchase offer with a 10% discount or more. This way, the client will consider staying longer and even buying.
Besides, to encourage the sale of your products, you can select your best clients and send them a custom email. In it, you can gift them a discount coupon or let them know about a promotion. You can even let your creativity run free and make up new ways to get their attention. For example, you can create a point system that your best clients can exchange for credits in your business.
Deals with influencers
Today, the best-known influencers have millions of followers who are aware of all their publications on the web or social media.
Therefore, it’s a good idea to partner with them to increase the visibility of your business.
Of course, you should look for influencers who have a large audience, so that they make your brand’s offerings known to all their followers.
These are the type of offers you can show to those clients who have already visited your site.
Their goal is to remind the client about your store and why they should go back. For this, you can show them the newest product or discount.
One of its many benefits is that you can use it many times during the purchase process. This way, you will turn those visitors into potential clients.
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