Innovative Promotional Tactics to Boost Ecommerce Revenues
You have a great product, your website is set up, and you are ready to sell your product or service. What comes next? There are some tactics you can employ to boost your revenuesâ€”namely promotions. Offering free delivery, â€śbuy two get one free,â€ť free gifts, discount codes, and rewards programs can not only create more revenue by encouraging sales, but can bring you brand loyalty and word of mouth advertising, boosting your revenues and growing your ecommerce brand.
Free Delivery Over a Certain Amount
Delivery charges can ruin an otherwise great price on a product. If you can offer free shipping, you can alleviate this extra cost for your customer. In addition, free shipping can be the deciding factor between you and a competitor. While paying the shipping charges does eat into your profit, you can offset this cost by only offering it for purchases over a certain amount, or by researching different cost-saving measures with your shipping companies. In the long run, you will save money and increase your revenues by better sales and customer loyalty.
Buy 2 Products, Get One Free
Another promotion that increases revenue is the â€śbuy 2 get 1 freeâ€ť sale. Customers like to get anything for free, but in reality, what you are offering is a percentage off of the sale (in this case, about one third off). You can program a pop-up into your purchasing area so that when a customer adds one of the promotional products into their cart, a message encourages them to select another so they can get the free â€śbonusâ€ť product. The excitement of the deal and the free product will help drive the sale.
Free Gift If You Buy 2 Products
The free gift is similar to the buy 2 get 1 free deal. The difference is that the gift is not something you can regularly purchase, or is a limited edition of a product. Cosmetic companies use this type of promotion in department stores to sell product by giving a bonus makeup kit with samples of other products. Your company can do the same. Be creative with your gift and you will have customers who will purchase whatever they need to in order to get the free gift.
Discount Code on Next Purchase
A discount code is used on a website the same way a paper coupon would be used in a brick and mortar store. By inputting the code into an area in the checkout screen of the website, a certain percent off is given. Be creative with your discount codes. You can offer the code simply for the next purchase, or you can encourage more spending by offering the code, but make it a percent off of a $50 purchase. Not only do you reward the customer for purchasing from your site, you also encourage the repeat purchase and give your customer a sense of loyalty as you give them this â€śgift.â€ť
Reward Points for Each Dollar Spent
Reward points programs encourage repeat spending by offering points that can be built up over several purchases. The more the customer spends, the more points they accumulate. You can choose what kinds of rewards are available, but it is best to give the customer some choice over what they will redeem their points for, be it for free product or for dollars off of a future purchase. It is important that the program show the points accumulated in real time and allow redemption right away in order for the customer to stay excited about the program.
Promotions such as reward points, free gifts with purchase, buy two get one free, and coupon codes can be a creative way to not only get customers to your site but to increase loyalty and repeat spending. By offering these incentives to customers, you will drive up your sales and boost your eCommerce revenue.