Running a business that sells products or services will quickly show you that customers are usually looking at one thing when they decide whether or not to buy from you: The price they’ll pay. Full price doesn’t appeal to most consumers, but steep discounts and limited time promotions do.
Getting someone to buy your product is much easier when you’re offering promotions, discounts, and deals. You know about offering items on a BOGO – Buy One, Get One – basis, but there are other types of promotions, discounts, and deals to offer your customers. They’ll boost your sales and get people excited to buy from you.
6 Types of Promotions, Discounts, and Deals to Offer
1. Dollar discount
Offer a dollar discount to help customers clearly envision how much of a discount they’ll receive. Buyers like being able to mentally tally the total minus the dollar discount, making it a great offer to try. It’s one of the best deals to offer when you want to put a limit on the amount of the discount – percent discounts, discussed below, can get pretty steep when large purchases come into play.
Example: $5 off any purchase of $25+
2. Percent discount
Percent discounts are also appealing to customers. They sometimes sound like a larger discount than they actually provide, which can encourage people to buy more than they normally would.
Customers are more likely to buy a product with as little as a 10% discount than a full-priced product, according to ConsumerTrends.
Example: 20% off your purchase now through Sunday
3. Bonus items
Offering a bonus item with a purchase also “tricks” the mind into believing you’re getting a great deal. You can offer a free bonus item along with a normal purchase, or you can instate a buy one get one free or buy one get one half off sale to give your customers a special bonus.
Example: Free loofah with any body wash purchase
Example: All shampoos are buy one get one free
4. Free shipping
Offering free shipping is a cost-effective way to run a deal or promotion at your business. Shipping usually costs less than $10 but seems like a much bigger discount to the customer. You also save the customer some hassle and remove a common barrier to purchase.
Example: Free shipping on all qualifying orders
5. Abandon cart offers
Customers fill and then abandon carts in eCommerce stores all the time. One reason they might do so is taking a look at the running total and deciding it’s just too much.
You can save this purchase many times by offering abandon cart offers, which pop up only when a customer is exiting the cart without making a purchase. It will offer them a one time discount and potentially encourage them to continue with the purchase, making it one of the most effective deals to offer.
Example: Don’t leave just yet – take 30% off!
6. Free trial
Finally, offering a free trial is a great way to get more customers through the door. Conversational offers a free 30 day trial to all our new clients so they have an ample opportunity to explore our service, work with our receptionists, and see how much time they save before making any kind of purchase.
Example: 30 day free trial for all new clients