Does your online shop need more customers? Promoting your eCommerce retail business can be difficult when so many other online stores are doing the same thing. Promoting one’s online store by holding sales and discount events attracts new clients and boosts earnings.
Moreover, these discounts help convert casual browsers into dedicated patrons who frequently shop at your store.
A solid eCommerce marketing plan includes both online and offline tactics. To boost online sales, it’s vital to boost both brand recognition and client loyalty. Concepts for marketing online goods will be crucial.
Moisturizer sales went up 73% when packaged together with other products, according to convince and convert. Customers preferred the greater quantity over the cheaper choice for a smaller quantity that cost the same.
To offer such a discount, a storeowner can use the bundle builder app if they run their shop at Shopify.
This article will summarize the most common eCommerce discount promotion that works for all stores.
How Does eCommerce Discount Promotion Work?
Promoting goods and services with price reductions is known as “discount promotion” in electronic commerce. To do this, you can provide a discount on the standard price, a free bonus item, or even free shipping.
Offering customer discounts is a terrific method to improve sales and build brand loyalty.
Online store discounts can be offered in a few different ways. Providing a discount on the standard price is an effective option. This is a quick and easy approach to saving money for your consumers.
Moreover, in this way, you can make your existing customers loyal. Offering free shipping is another common promotional strategy. This strategy could boost sales and simplify the purchasing process for clients.
Sales and customer loyalty can both benefit from discount campaigns in online stores. However, they should be used responsibly. It’s possible to lose money on discounting if you do it too often.
Discounts are effective only if they are offered to the proper people. You will only experience success from a promotion if it resonates with your ideal customer.
Best eCommerce Discount Promotions
- Percent-off Coupons
- Free Gift with Purchase
- BOGO Coupons
- Promo Codes Based on Loyalty Status
- Free Shipping Coupon
- Mystery Deals
- Mobile Coupons
- Referral Coupon
- Automatic Coupons
- Gift Card with Purchase
- Offering Bundles
Type 1- Percent-off Coupons
A percent-off coupon is a coupon that offers a percentage off the total cost of an item. For instance, a 10% off coupon would make a $100 purchase $10 cheaper. Percent-off coupons are one of the most popular discounts offered by online retailers. A businessperson can increase sales, attract repeat customers, and transfer inventory.
To use this coupon, customers must frequently enter a unique code to receive a percentage-off discount. The consumer will see the discounted price once the discount code has been applied. Percentage-off coupons can be applied to specific products or categories or may be valid for the entire order.
Type 2- Free Gift with Purchase
Customers always love to receive gifts whenever they go online shopping. The gift can be something other than sometime expensive or extensive. They are not bothered about the size of the gift. The only thing that bothered them was the word “free”.
For instance, you are a store owner at Shopify who is running a wholesale business of different types of bags. Now you can offer a free handbag to your customer who recently performed a bulk order from your store. The price and the size of the handbag are not the matter, the only matter is, you do care for your customer.
Type 3- BOGO Coupons
Buy one, get one free (BOGO) coupons are a promotional offer that online stores can use to attract new consumers and boost profit margins. When a buyer enjoys a BOGO coupon, he will ultimately pay for only one product and get two products.
Customer usually marks the BOGO discount as profitable because it sounds so fascinating to customers to get one free product without paying money.
Buy One Get One (BOGO) coupons can be applied in many ways in an online store. For instance, it can be applied as a form of discount or gift, or it can be considered a way of inventory management, especially during the holiday season.
Type 4- Promo Codes Based on Loyalty Status
The promo code is represented as a percentage or an exact type of discount offer. A Discount coupon allows clients to receive free shipping and gift-wrapping services. To put it simply, this advertising method provides buyers with additional satisfaction when using your items.
A coupon, discount, or promotional code is a unique number and letter containing a special offer. A store owner can create a purpose-built discount on the eve of any holiday season. For example, on 12-12-12, some eCommerce stores offered 12% discount coupon codes to their customers during the New Year.
Type 5- Free Shipping Coupon
Customers can avoid paying delivery expenses completely by using a free shipping promo code at checkout. This is a standard advertising method for online stores, as it increases both sales and customer happiness.
Free shipping coupons can be used in several distinct ways. Shipping is on the house when you spend a specific amount at a store. For all orders above $50, one online retailer provides free shipping. Some competitors, meanwhile, provide free shipping on specific product lines. A retailer may, for instance, mail apparel items at no cost. Read this to know more about free shipping.
Coupons for free delivery can also be utilized to focus on a specific demographic of consumers. Members of a store’s loyalty program or anyone signing up for the email newsletter might receive free shipping.
Shoppers can take advantage of free shipping offers by entering a promotional code during the purchasing process. After entering the code, their order will automatically have shipping charges removed.
Type 6- Mystery Deals
Nowadays, Mystery deals have become a trendy way of brand promotion. Because of its vast success, store owners rely on this different discount idea. Online retailers can use mystery deals as a promotional tool to grab the attention of new customers.
When a business owner sends a mystery gift to a customer, they feel overwhelmed by receiving something they do not know. This adds a good impression to a business which actually can boost a company’s growth.
Multiple strategies are available for offering mystery deals. One strategy is to give customers the option to buy a “mystery box” or a package containing a predetermined number of products chosen randomly from the store’s stock.
Online retailers must remember a few things when using mystery discounts as a marketing technique. The quality of the things included in the mystery boxes or the size of the discount offered should be prioritized first. Customers are more likely to buy elsewhere if they are dissatisfied with their purchases if the discount needs to be increased.
The second way is a retailer can announce the sale on their website and social media pages about a mystery deal. This deal can be a good way of selling leftover slow-selling products.
Type 7- Mobile Coupons
Coupons transmitted directly to a customer’s mobile device are called mobile coupons. They can be used either virtually or physically. Customers who have already shown an interest in your products or services are a prime target for mobile coupons. Though a store owner can focus on a particular audience or geographic area,
Mobile coupons are being used in increasing marketing efforts by brands to increase foot traffic to stores and revenue generated. Customers frequently use mobile devices at retail points of sale; as a result, this discount or promotional idea has become important these days.
Customers who abandon their shopping carts could be rewarded with a mobile coupon. This coupon could be for a future purchase and serve as an incentive to make that purchase.
Type 8- Referral Coupon
Customers who recommend your business to their friends and family are rewarded with referral incentives. These discounts are a wonderful tool for attracting new clients and expanding your clientele. Coupons for referrals can be shared digitally by email, social media, or text messaging.
For instance, if a consumer refers a friend or family member to your store, you could reward them with a discount. With this coupon, the referring customer and the referred client could save money on future purchases.
Type 9- Automatic Coupons
Discounts are automatically deducted from clients’ bills when they use an automated coupon. These discounts may be assigned based on the customer’s membership status, order total, or previous purchases. Automatic coupons are a fantastic tool for boosting brand loyalty and driving recurring business.
Customers’ orders could receive a discount calculated based on their previous purchases. Repeat customers, for instance, could be rewarded with an automatic 10% off coupon for their next purchase.
Type 10- Gift Card with Purchase
Customers are rewarded for their patronage with gift cards with purchases. These gift certificates are redeemable for future purchases at your store. You may show your consumers how much you appreciate them and win their return business by including gift cards with their purchases.
Customers who spend more than a particular amount on an order could receive a gift card free of charge. For instance, a customer who spends $50 or more on their order may be eligible to receive a $10 gift card free of charge.
Type 11- Offering Bundles
Suppose you are someone who does not want to offer any discount separately, rather than you want to offer bundles to your customers. The bundle could come up in different ways and types.
For instance, a Shopify store owner can offer his customer to mix and match pre-set, and quantity drop-down selector bundles. In Shopify, several applications are available, and a business person can choose anything convenient for his business.
Here, we can see a store owner who sells muffins at Shopify by using an app named MultiVariants – Bulk Order App. This app allows him to make a mix and match bundle of muffins including adding MOQ (minimum order quantity).
As he added minimum order quantity so now his customer have to choose at least 20 from different variant of product.
Hence, the businessmen perfectly offering bundle as a form of discount and together by offering MOQ they just made a balance in his inventory.
To sum up, there is a wide variety of effective discount promotions that can be used in the context of online shopping. Your products, customer base, and marketing objectives will determine the most effective form of advertising for your company.
Creating an effective discount campaign requires careful consideration of when to run the promotion, who to target, and how to get the word out. Following these guidelines will help you maximise the effectiveness of discount promotions for your online store.