Price reduction strategies to increase your sales.
In order to attract potential customers to discover your products and make them buy, offering a price reduction is a good strategy. Price drop, here's an interesting lever to move a potential customer from a passive state to an active one. Because once they visit your site, they often need a trigger. And what is better than a financial trigger?
These discounts include the economic discount (directly through a percentage discount or in the form of a gift voucher), free delivery and the incorporation of high value-added products and services.
Please note that price changes must be handled with care, as they may worry the consumer about the seriousness of your brand or even discredit it.
In this article, we will look at different pricing strategies to activate your potential customer and encourage you to discover your excellent products.
1. A price reduction by e-mail?
Some e-commerce sites have realized the value of having a clean and functional email database. With the implementation of data protection policies for Internet users, we need to be increasingly aware of personal data.
So if you want to build a long-term email strategy, you need to build it on a solid foundation and truly usable data.
You only need to provide a purchase coupon if your web visitor provides your email address when you subscribe to the newsletter, for example.
In addition, to encourage them to make their first discount purchase, install a link to the newsletter and its contents. All you have to do is create an interesting newsletter.
2. Hire your audience to qualify for discounts.
To make it "less economical" and more fun, you may want to join a contest organized by your brand. So it's not a random time-out, but rather a reward you receive for interacting with you.
Either through a game on your website or on your social networks, make the community work so that you don't think the price reductions have expired, but have a profit.
Contact up to 400 customers per month.
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3. Suggest loyal customers become ambassadors. Its principle is simple: invite your customers convinced by your product / service to become "sellers" of your brand, proposing that your loved ones join them.
Simple, in principle, sponsorship provides financial compensation to the sponsor (and sometimes the sponsored person as well) and allows you to increase the virality of your offer.
It can be easily set up on a website or in business and can therefore be a great lever to expands all your marketing actions.
4. Don't forget to reward loyal customers.
We talked about sponsoring and developing new customers, but are you thinking about loyal customers?
The mistake is often that when we want to develop new customers, we tend to forget the current ones, even if they represent an interesting development potential, because they are already convinced.
Obviously, it all depends on your industry and your offerings, but you can reactivate your customers by:
price reductions on new purchases or price renewals;
interesting sales with products / services at reduced prices to new customers;
loyalty points to be accrued in order to benefit from subsequent discounts.
Instead, make sure you reward your customers well and make your rewards cycles clear and understandable. Big brand loyalty programs are often complicated and of little interest to their customers due to the complexity of obtaining the lowest discount.
5. Draw the attention of your less-convinced prospects, such as
some of your potential customers, whom you have tried to attract to your site and who are interested in what you are selling, but who may give up on anything. moment for various reasons.
They may not be convinced by what you offer, I think your price is too high, they hesitate or even compare to some of your competitors.
When they abandon your shopping cart to leave the site or access another page, you can make an offer to keep the shopping cart. It is up to you to offer your offer in relation to your estimated expectations.
The most difficult part is not creating these offers, but orchestrating them. You need to understand how your internet users and future consumers behave.
Now is the time when you can implement the best price reduction strategies and thus increase your conversion rate.
