All businesses are looking to increase their profits, so today we are looking at an infographic showing 15 real world ideas that show you how to generate sales with offers and deals.
How to Leverage Offers and Deals to Generate Sales
For business owners, the concept of using offers and deals to generate revenue may seem like a no-brainer. After all, we grow up as consumers and are all familiar with sales, be it nationwide holiday sales or weekend discounts at a local franchise or general store.
However, the influence of technology over the years has changed the game. Since the internet takeover, people have grown accustomed to online deals and coupons. To maximize the opportunity to make more profit via sales and deals, businesses now need both an in-store and online presence (unless your business is strictly online, that is). By taking advantage of multiple sales channels, small business owners can promote in-store deals online and vice versa.
This incentivises shopping for customers that keep a lookout for great bargains on the horizon. According to a recent study, 68% of consumers think that digital coupons build brand awareness and brand loyalty, while another study found that customers who use coupons spend 37% more than shoppers who don’t. Customers love a good deal, so much so that they’re even aware of its effects on their shopping habits.
Another key point to keep in mind is that customers love simplicity. According to Harvard Business Review, customers tend to purchase from brands that make the purchase-decision journey short and simple. One of the best ways to do this is to make it easy for customers to weigh their options. Provide the essential information your consumers need to understand how much they can save.
So what in what ways can you as a business owner improve sales without overcomplicating the process? We’ve highlighted six great methods below.
- Create a customer loyalty membership program: Customer loyalty programs are a great means to increase customer retention. By offering exclusive deals to loyalty members, you ensure that they spend more money on your products.
- Believe in the power of coupons: The concept of coupons may seem old hat, but customers love to save — and are willing to spend more if it means saving a little. Digital and in-person coupons are both a great means to draw in bargain hunters and promote your brand.
- Reward your first-time buyers: 80% of consumers feel encouraged to make a purchase with a new brand if they find an offer or discount. What better way to make them feel welcome than to offer them an exclusive discount on their first purchase?
- Take advantage of social media: Want to increase your social media presence? Offer deals in posts that only your followers can see and encourage them to share. Social media exclusives will increase your online presence and revenue.
- Congratulate customers on milestones: Show customers you care by offering them exclusive deals for milestones. Acknowledging their birthday, congratulating them for their loyalty on their membership anniversary, or rewarding them for spending a certain amount are all great ways to do this.
- Encourage customers to subscribe to your email list: Looking to generate leads and revenue? A great way to get a customer’s email is to ask for it with a popup when they visit your site. To ensure you get more leads, offer a small discount or offer when they successfully sign up.
People love the feeling of saving money — even when they spend it. The classic sale is still something consumers look forward to, and the more often you promote them, the better.
To learn more about sales and deals, check out the Wikibuy infographic below.
(With thanks to wikibuy.com for permission to reproduce.)
Which of these tips have you used to generate sales with offers and deals?