Topic 1 Introduction
Discounts, promotions and special offers can be some of the most powerful tools for making sales. Of course, there is no point in offering large discounts to the point where they become unprofitable.
Such a strategy can cause unlimited damage to your brand – your customers will begin to suspect that your products are not really worth the initial prices they are advertised at, and you will likely gain a reputation for being cheap and possibly substandard.
There’s a reason they’re called special prices. It should be just that – specifically, an exception, a tempting proposition to win new customers or to please your loyal customers.
-Special Offer Types
- These are the most common types of discount used.
- Sometimes a much larger discount (-50% or even 75% off in some cases) can be used to clear out u2013 sell off a backlog of stock that is sitting in warehouses and just not selling easily
- Customers will often withdraw from their purchases when they realize that they will pay additional shipping costs.
- Another way to use free shipping is to offer it in combination to a minimum order amount to help increase your average order placement.
- Gifts with specific purchases can add real value from a customer’s perspective, increasing the orderu2019s amount and even help you get rid of non-moving products.