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    Home » 5 price reduction strategies to boost your sales
    Business

    5 price reduction strategies to boost your sales

    By December 9, 2023Updated:February 26, 2024No Comments5 Mins Read
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    Price reduction strategies
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    To entice your prospects to discover your products and to encourage your customers to buy, offering a reduction is a good strategy. Find out how to implement it. Reduction is an interesting lever for moving a prospect from a passive to active state. Because once they’ve visited your website and can potentially take action, they usually need a trigger. And what’s better than a financial trigger? Among these reductions, we find the bershka discount code (directly via a percentage reduction or in the form of a gift voucher), free delivery and the addition of products and services with high added value. Be careful, price changes must be handled with care, because they can worry the consumer about the seriousness of your brand, or even discredit it. In this article, we will observe different price reduction strategies that exist to trigger your prospect and push him to discover your great products!

    1. A discount for an email?

    Some e-commerce sites have understood the value of benefiting from a clean and functional email database . With the implementation of GDPR and Internet user data protection policies, we must be more and more attentive with personal data. That’s why, if you want to build a long-term emailing strategy, you need to build it with solid foundations and genuinely actionable data. But how to link discount and email adress, you will tell us. Well, quite simply by offering a reduction coupon on purchase if your Internet user provides his email address by subscribing to your newsletter for example.

    In addition to encouraging them to make their first purchase via a reduction, you install a link through the newsletter and its content. All you have to do is build an interesting newsletter .

    2. Engage your audiences to benefit from discounts

    Who said that the reduction must be cold, even though it is a moment of pleasure for the Internet user? In order to make it “less financial” and more fun, it may be interesting to link it to a competition organized by your brand. Thus, it is not a random discount of time, but a reward that is obtained by engaging with you. Whether through a game on your website or on your social networks, make your community work so that it does not consider your discounts as due but as a gain. This does not change much in the end (a reduction on the customer’s purchase), but you do not position yourself as a “financial player”, rather as a dynamic and resolutely modern player in the market.

    3. Offer your loyal customers to become ambassadors

    Have you also seen these bank offers that make you eye with dozens of euros to invite your loved ones? Here is the sponsorship that is emerging! Its principle is simple: invite your customers convinced by your product / service to become “salespeople” for your brand by offering their loved ones to join them. Simple in principle, sponsorship offers financial compensation to the sponsor (and sometimes to the sponsored person as well), and makes it possible to amplify the vitality of your offer. It can easily be set up on a website or in store (through a CRM well implemented in your company), and thus be a formidable lever to amplify all your marketing actions.

    4. Don’t forget to reward loyal customers

    We’re talking about sponsoring and developing new customers, but are you thinking about your loyal customers?

    Often, the mistake made is that in wanting to develop new clients, we tend to forget the current ones, even though they represent an interesting development potential since they are already convinced. Obviously, it all depends on your sector and your offers, but you can reactivate your customers through:

    • discounts for new purchases or a renewal;
    • interesting cross-selling with products / services at reduced prices or even not accessible to new customers;
    • loyalty points to accumulate in order to benefit from reductions thereafter.

    On the other hand, be careful to reward your customers well and to make the reward circuits clear and understandable. Often, the loyalty programs of major brands complicated and of little interest to their customers because of their complexity to achieve even the slightest discount.

    5. Hold the attention of your less convinced prospects

    Some of your prospects, whom you have sought to attract to your website and who show interest in what you are selling, may choose to leave at any time for various reasons. They may not be convinced by what you are offering, find your price too high, hesitate or even compare with some of your competition. When he abandons his basket to leave the site or go to another page, you can then make an offer to remove some of his brakes and thus retain it. Discounts, discounts or products offered, it’s up to you to proportion your offer in relation to their estimated expectations. In the end, you will understand, the most complicated thing to do is not to create these offers, but to orchestrate them well between them. It is necessary that you understand how your Internet users and future consumers behave.

    This is when you can put in place the best reduction strategies, and thus increase your conversion rate.

    Read More: Guide Tips to Wedding Anniversary Gifts

    Apart from that, if you are interested to know about Investment Strategies for the Family then visit our Business category.

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