9 min read by Nichita Herpuț
published 2 ani în urmă, updated 6 luni în urmă
Every businessperson out there who wants to remain competitive knows that it must always explore new ways to attract consumers to purchase products from your store. Even if you have built a loyal customer base over the years, new customers are key to scaling your organization to new heights and ensure sustainability.
As an entrepreneur, you need to make sure your business is always relevant, competitive and inviting to potential clients. The influx of new customers will not only help keep your business on its feet but will equally keep your customer service solid and products and services highly innovative. New customers will always keep you on your toes and also bring in new revenue sources for your organization.
This implies that if your revenue is beginning to dwindle or get stagnant, it is high time you come up with innovative ways to market your products to your audience. Special offers and discounts are arguably one of the proven ways to attract new clients. Product offers and special deals are a quick way to draw in potential clients. When consumers know that they can save money on whatever products or services they are looking for, they will likely visit your store and make a purchase even if they had never previously visited your store. Special offers not only attract new customers but can equally boost your bottom line.
However, for you to experience success with this type of marketing strategy, you should know that how you present your product offers is imperative. This is because it shapes the shopping experience of your customers.
Even though it is true that you can't control the minds of your customers, you can somehow influence their perception of your products or services. You can achieve this by presenting your services or products in such a way that your attracted prospective clients can't resist making a purchase. It has been proven that most businesses try to make their products offer more enticing by just dropping the price. However, if you were not aware, there are several more innovative and effective ways you can use to attract your customers with your product offers. As experts in the industry, we are going to provide you with smart tips on how to boost the power of your product offers. Peruse the article and get to know.
Have you noticed that those items or products in limited quantities are always appealing? There is a high chance you may have experienced this at one point in your life. You always want to purchase a scarce product before it runs out of stock and your customers are not an exception. Turns out, scarcity forces customers to perceive limited commodities as relatively more precious and valuable. Scarcity makes consumers feel a sense of urgency to convert and take action. This is because scarce items feel exclusive.
Customers who possess scarce items are perceived to have exclusive items that are not openly available to others. This, in itself, makes scarce products more desirable. This is why airlines have special membership lounges and football clubs have VIP locations! As a smart entrepreneur, you can leverage this tactic to boost your sales too. It is an excellent way to ensure that your products are swept off the shelves.
One of the best ways to leverage scarcity is through limited-time offers. When time is limited, it always makes consumers act fairly faster. After all, they have very little time to second-guess and the pressure in on and this implies that they will act sooner rather than later. There is nothing more action-inducing than seeing the hours on a clock tick down. Putting a timer within a sales context simply means you are defining the scarcity parameters. When a consumer knows how much time is left for him/her to make a purchasing decision, it sparks urgency. Giant companies such as eBay are popular for their purchase countdowns that trigger last-minute bidding wars amongst consumers. You can also employ such tactics to attract more clients and boost your sales. You can portray that some of your products are only available for a limited time or certain deals and discounts are available for a limited period.
Research has always proven that seasonal offers can work wonders. This is because seasonal offers make consumers see scarcity in your products and this helps drive sales. After all, the holidays and festive seasons never last forever. Seasonal sales are a fantastic way to entice consumers with offers and discounts which may only be available once annually, and these sales have been proven to generate high traffic on eCommerce platforms.
Many consumers always have something they want to own but can't just afford to pay the full amount needed to make a purchase. And this is why when they are offered the same item at a much discounted price, say 40% off, they will most certainly rush to finally purchase it and have it at their disposal. Simply put, seasonal offers are a beckoning bell for many clients who wait on the wings hoping for product prices to fall.
For instance, the popular Black Friday is an event in America that usually witnesses a significant number of consumers flocking various retail outlets that offer organized special, eye-catching discounts on items. It has become an event that customers always await eagerly. If you didn't know, creating seasonal offers or seasonal marketing campaigns show that you value your customers. Holidays are a time when emotions are usually high and most consumers have taken time off work to spend quality time with their loved ones. Start your marketing campaign by offering enticing seasonal product offers that resonate with your customers' emotions during holidays.
However, it is imperative to note that not every annual event will apply to you. Depending on the types of services or products you offer, there will be certain times during the year when you get to realize the most revenue. It is during this time when a promotion is most promising. Seasonal product offers can help boost your sales by increasing your visibility among consumers and give you a revenue lift while at the same time give you potential new customers.
In the past, most businesses were somehow reluctant to give away stuff freely. However, in the modern age, organizations have realized that there are potentially endless benefits associated with being generous towards your customers. A gift to a client can potentially give a company returns far beyond the cost of that particular item. Gifts serve to create a lasting bond between you and your audience. It has been proven that businesses that strive to create meaningful connections with their customers are more likely to experience increased customer retention as well as repeat business.
Given a choice between doing business with an organization that offers gifts, and one that doesn't, most consumers will choose the company that genuinely demonstrates appreciation for its customers. It is also imperative to mention that free offers are highly effective vehicles for advertising. For instance, if you give a few of your customers some items freely, they are likely to share those gifts with their friends who will equally see the name of your business. With time, this could lead to a conversion!
Free offers will also boost your brand awareness. By giving a gift that potential, as well as existing clients, will use over and over again, you'll be helping build a brand. Whether you are in a brick and mortar or eCommerce industry, you can always find something to give out. Anyone with a product or service of any sort can always surprise her/his customers with something. To randomly selected prospect or your loyal customers, there is always a chance you can delight people with spontaneous samples, gifts a well as new product lines.
Companies that give freely are paid special attention to their customers. Perhaps this is because people are always obliged to give back if someone gives them something back first. You must have noticed in the supermarkets, particularly during weekends, the counters usually get filled up by consumers enjoying free product samples and inevitably making a purchase. It is not because these customers went there just to purchase that particular item. They let their guard down when they received an appealing offer freely, and the urge to return the favor was somehow irresistible.
Most consumers will do everything they can to avoid interacting with brands they don't like. This is why brands always try to be emotional. Happiness experts find that nearly half of someone's happiness is built in moments remembering and anticipation. This only implies that if you want to win over your clients, your product offers must appeal to their emotions. Even though most consumers believe the choices they make result from a rational analysis of the available alternatives, the fact is that emotions are the major driver in the whole decision-making process.
One of the best ways to trigger your customers' emotions is by being trustworthy. Establishing trust with your customers is an effective way to encourage sales. When consumers trust in your brand, they are likely to become loyal clients. Loyal customers will always spend more money. However, you need to ensure all your gifts, special deals and offers are transparent for your customers to perceive your brand as trustworthy. You should never surprise them with any hidden fees or costs when they are making a purchase. Offering free returns, a secure checkout process, and exceptional customer service are arguably some of the best ways to enhance your customers' trust.
Another way to trigger the emotions of your customers is to leverage the power of fear. If you didn't know, fear is one of the most powerful forms of emotions. As a result, you can use it as a sale tactic in many different ways. For instance, you can create the fear of missing out on something by running a flash sale offering 30 or 40% off everything on your store, let's say for the next five hours. This type of marketing strategy will make your customers act fast because of the fear of missing out on the offer.
As we previously explained, what most companies do to make their offer more appealing is to drop their commodity prices. The majority of players in the industry love this strategy because it's arguably the easiest. After all, dropping your price requires nothing special. However, for you to entice your customers, you need to be creative. A significant number of customers that are looking to make a purchase are much more intelligent than to be easily swayed by a cheaper product. If you didn't know, lots of customers are looking for much more than just affordable prices.
This means that your offer must be of a certain quality, appeal to them emotionally, and satisfy their needs in some way. Your customers should have the perception that whatever you are offering has some substantial amount of value and thus deserves their time, money, or attention. You can make your offer more appealing by stretching the distance between the value your customers perceive your offer has, and the cost needed to acquire that particular offer. The further the two are far apart, the greater the tension in your customers' mind, and the more irresistible the urge to make a purchase becomes.
You need to convince your customers that they are getting a highly valuable product at a relatively affordable price. If they notice a big gap between the value you are offering and what you are asking for, they are likely to do whatever it takes to have that particular product on offer at their disposal.
If you are a businessperson or an entrepreneur who is concerned about the value of your product offers in the eyes of your audience, we have provided you with highly effective tips on how to make your offers more attractive. With these tips at your disposal, you'll have a great chance of making both your loyal customers and prospects anxious and willing to take advantage of whatever you are offering. Even during an economic downturn there are ways to market your products, check out this Harvard Business Review and find out how. Of course, you must never forget about the power of exceptional customer service!
2 ani în urmă by Nichita Herpuț - 2 min read
2 ani în urmă by Nichita Herpuț - 2 min read