Top 10 Most Effective Type Of Promotions | SlackTime

WEEKLY TOP 10’S

1. Percentage-Based Discounts

A negative part of it can be the client mistrust. Some of the people prefer to buy a full-price product instead of a discounted one. This is happening because, over the years, many companies prioritized quantity over quality.

People might have doubts when buying a discounted product because, for them, it means it is a low-quality one. As long as you make yourself known for the quality of your products and gain brand ambassadors that can sustain this idea, this won’t be a problem for you.

FeelUnique-Percentage Discount

2. Dollar-Value Discounts

Psychologically speaking, people are reacting better to fixed values than percentage offers when we are talking about more money.For example, “Get $30 off, when you spend $300” works better than “Spend $300, get 10% off”.

If you are wondering why, because in the end, it’s the same offer, the reason behind it’s that customers don’t want to waste time doing calculations, and their first impression is that $30 is a better deal than 10% off.

You can read more about how discounts work in the article “The psychology of discounts”, written by Yoast.

Metro-Value Discount

3. Buy One Get One

Also, most times when it’s offered an extra discount for the second product, it is applied for the less expensive one. Some people might not be interested in two products that don’t have similar prices, or you could experience a low conversion for the less expensive products.

This type of promotion is mostly used when brands have big stocks, or maybe a new season is starting, and they want to change stocks with new ones.

Walmart Canada-1+1 Free Promotion

4. Bundled-Discounts

If they like the new products, there are big changes to buy them again in the future. You can also use this type of promotion to sell popular and less popular products together.

Helix Towel Co-Holiday Gift Set Promotion

5. Coupons

Most times, coupons include a code that people can use on their next purchase for an extra discount. Think about segmenting your clients by amount spend, and award them with an exclusive offer.

As for new clients, coupons can be seen as a push to visit your online store. Think about using coupons also for customers that had a bad experience with your online shop. It is a way to say: “Sorry for the inconvenience we created” and keep them as happy customers.

OfficeMax-Coupon Code Promotion

6 . Event/Holiday Discounts

Did you know that people start to plan for Christmas since the beginning of the summer and the average Black Friday shopper spends $313.29 on sale items?

Juillet Beauty Center-Christmas Promotion

7. Volume Discounts

When you offer a volume discount, you reward those buying in bulk by providing a reduced price for each good or group of goods.

Dotti-Volume Discount

8. Free Shipping

The best solution for your business is to decide on a minimum value for free shipping to cover your expenses for packaging/delivery costs, and at the same time, still have a profitable offer.

Even though customers avoid buying from stores that don’t offer free shipping, this is not a type of promotion that will convince them to buy from you. Nowadays is kind of expected from you to offer a free shipping deal.

Colour Supplies-Free Delivery

9 . Competitions

People like free stuff and they will enter your competition even though they don’t have a special need for your product in that exact moment. It is a great way to promote your products at a low cost.

The most practical and efficient way is to create social media posts in which you ask people to share, like, and mention friends or relatives for the chance to win a free product.

Lindsaybook-Instagram Competition

10. Free Gifts

This strategy can also be used to sell products that didn’t have a great impact on people and didn’t move. Another reason for using this type of offer is to promote a newly launched product and get clients to try it.

PaperStone- Free Gift Offer

Choose the right offer

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