Have you thought of boosting your sales during the festive season? The best strategy to attract more customers and beat your competitors is to offer discounts. Online shoppers look for highly discounted products to save money. On the other hand, discounts and promotions are beneficial to businesses, as they help you move your inventory and accelerate sales.
But your competitors also offer coupons and discount codes to acquire new customers. Then, how would you differentiate your offer? Although discounting is a good tactic, you should learn the way to create your discount offer. Be strategic while writing your discount offer. Implement psychological and emotional strategies to reach your goal. The success of your effort depends on how you have promoted your discounts and promo codes.
Know Your Discounting Campaign’s Purpose
You should determine your intentions and goals before running a promotional campaign for your business. The most common reason for offering discounts is to move your old stock. If you have old merchandise, it will consume your storage space and affect cash flow. This is especially true for businesses dealing with seasonal products.
The discounting strategy is also good for new businesses that want to grow their customer base. They want to bring more visitors to their stores by offering promo codes and discounts. Price deductions will increase the exposure of your brand.
The Best Times to Offer Discounts in 2023
There is no particular time when you should send a message about the discount offer. Still, some common situations when most businesses want
- When a new user has signed up with your business
- After abandoning the shopping cart
- To give thanks after a purchase
- Discounts for early birds
- Retaining existing customers with re-engagement offers
- Customized offer on the birthday of your loyal customer
- You want to offer sales promotions
There are some more scenarios when you can offer discounts. For instance, you may encourage potential customers to sign up for your newsletters or email alerts. It also allows you to gather contact details of your new customers. You can use those contact information in the future to nurture relationships.
Another option is to incentivize your customers to write reviews. It means you have to offer discounts as a reward to those who have written reviews. Your potential customers will want to check the quantity and quality of reviews before making purchases. Thus, a small incentive will lead to a large number of reviews.
How to Create a Discount Offer That Converts?
We have provided you with a brief guide to running a discount campaign. You can write the offer efficiently and improve your sales rate.
Different types of discounts and how to use them
The eCommerce business that wants to boost profit should choose the right discount type. You have to decide on the best one from the available discounting strategies-
- Combo offers
- Discount code
- Cash amount
- Percentage discount
Your customers will save money based on the pre-determined cash amount or percentage discount. You may also allow some customers to get specialized discounts for their repeated deals. It is the most effective strategy to maximize customer retention. To sell more items at a time, you can announce combo offers.
Insert the expiration date into your coupon
Proper scheduling and timing are highly important for eCommerce businesses offering discounts. It will lead to a higher customer engagement rate. For instance, Christmas and New Year are the best times for offering discounts as people will purchase before or on the festive days. Thus, it is highly essential to create a schedule for your discounting campaign and increase your profit.
Moreover, you have to think of the timeframe for which you like to run discounts. So, do you want to offer discounts only for a couple of hours or a week? Mention the expiration date when you create your coupon. For example, you can create a sense of urgency with the following message
50% DISCOUNT ONLY FOR 24 HOURS
You can nurture your customers’ sentiments with the discount offer.
Offer attractive discounts to new customers
Do you aim to create a positive impression among your new customers? You can then satisfy them with a big discount on the first-time deals. Your discount will encourage your customers to buy products from your store in the future. But, how will you offer the coupon code to your new customer? The easiest option is to show a popup message with a discount code. You may also show the discount offer on the home page.
The image shows an attractive design to grab the attention of the customers. It promises customers a 10% discount on your deal. These shoppers need to enter their email addresses to grab the offer during the checkout.
Give rewards to loyal customers
The main purpose of offering discounts on your products/services is to draw more customers. New customer acquisition leads to an increase in sales. But you must not overlook the importance of your existing customer base while offering discounts. If these customers get discounts, it will improve brand loyalty.
Besides, incentives to your regular customers will encourage them to refer your business to others. They may also share your products/services on social platforms. For instance, you may offer 60% discounts to customers who have sent at least 3 referrals. This is how discounting to your existing customers will allow you to increase sales.
How to Create and Send a Discount Offer Email That Converts?
You can find different ways to deliver your message on the latest discount offer. However, the most effective one is the SMS. It allows you to leverage benefits because the open rate of text messages is more than 90%. So, customers also want to communicate with businesses via SMS.
If you have managed to obtain your potential customers’ mobile numbers through their signups or order forms, you can send SMS discounts. In case you have set up a physical store, you may use QR codes (or digital coupons) to persuade customers to return in the future. Online coupons are better and more effective than traditional printable coupons.
Although the most popular way is to deliver the discount SMS, email is another alternative. Emails enable you to show more details about the offer. You may also add multiple images and show different elements.
Besides, you can use any instant messaging app to send the exclusive discount offer message. What’s more, you can simply show the discount details on your official website.
Things you should consider before writing your discount offer
Like other businesses, you might have thought of offering discounts and coupon codes to your customers. But, every business is different from various perspectives. How many customers do you currently have? What is your pricing plan? What type of services/products do you offer? These aspects are important before attracting customers with discounts.
Analyze your profit potential
It is really attractive if you offer a 50% discount on your products. But, does this incentive allow you to maintain your profit margin? Without considering your profitable margin, you must not create your discount strategy. A big discount may lead to a negative effect on your revenue. Calculate the amount you will earn as profit from every sale.
Consider the new customer acquisition cost
Offering coupon codes or discounts is a good way to draw new customers to your business. But it may also affect the average cost of customer acquisition. To obtain the best value from discount campaigns, you should convert your newly acquired customers into loyal ones. So, maintain your relationship with those customers and keep them updated with the latest offers available at your store. It will boost the lifetime value of every customer.
Make your discount attractive
You cannot make your discount campaign successful if you do not identify your target audience. Once you have understood the audiences, you can learn about their preferences. You will then be able to offer a discount on the right products or services. Your new customers will want to build a long-term relationship with you.
Be careful about the negative effects
Although sales and promo codes are effective ways to generate quick revenue. So, ensure that you have not made any mistakes that may cause risk to your business. If consumers become too familiar with the discounted price, they will not want to make deals when the price rate becomes normal. Besides, a too-high discount will allow your potential customers to perceive a low value of your products. Thus, these factors are highly significant when you think of offering discounts or coupon codes.
Write Discount Emails That Your Customers Will Love
Whether you have a B2B or B2C business, discounting is a good strategy for winning over new deals. It also lets you re-engage your existing customers and gain more revenue. However, the way you craft your discount offer email makes a difference in the response rate.
Emails for discount campaigns enable you to inform customers about the latest offers from your business. You may send personalized emails to a few customers or deliver generic sales emails to several customers.
If you consider some prominent brands (such as Walmart), regular discount offers are a guarantee. These brands offer discounts very often, and consumers like to buy their products only during sales. On the other hand, some brands run discounts less frequently.
While determining the sale price, you should consider how your discount percentage affects your consumers’ perception of your brand.
Find some more tips for writing the discount emails for your customers–
Personalize your emails
Personalizing the promotional email is highly important.
Your customers like to feel special, and so you should apply this concept while delivering discount-related emails. According to a report, brands personalizing their email marketing activities gain 40% more revenue. This report has also revealed that many consumers consider purchasing and re-purchasing products from brands with personalized approaches. So, with personalized communication, you can persuade your customers to refer your brands to their family members and friends.
While delivering several promotional emails to subscribers, some marketing platforms let you add customer’s names. You may also show the name in the subject line.
The image is an example of a personalized email on discount offers.
Discount offer emails should be precise
There is one big purpose of sending emails on discount offers. You want to let your customers know about your current sales. Lengthy email content may not always give you the best outcome. That is why the email content should be concise to capture customers’ attention.
Introduce your discount offer to the email recipients and let them find the discount code easily. You should also mention the expiration date while creating content for your discount deal emails.
Set the right tone
If you send a discount-related message, you should match the content with your brand’s tone and voice. But, it does not mean you have to make the content and subject line complicated. The most important thing is to focus on your products or services.
More tips for creating your discount offer
We have shared some more strategies for writing your discount offer.
Segment your target audience
Not all your offers are valuable to every potential customer of your business. If you keep on sending irrelevant discount messages, the recipients will feel overwhelmed. Subscribers will unsubscribe from your emails. Thus, audience segmentation lets you deliver the right promotional message to every recipient.
Drive a sense of urgency during the festive season
With the approach of the holiday season, you can trigger a sense of urgency in your customers. For instance, if it is a gift item, you can persuade your potential customers to grab the offer during Christmas or Valentine’s Day.
Your message for the discount offer should include a strong call to action that encourages recipients to take action.
Writing a discount message is not a complicated process. Still, you should be strategic in your approach. Whether you offer a free gift or a discount, you have to write your message properly.
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