Effective promotional campaign spurs engagement and conversions — and leads to major growth for your brand.
eCommerce sales promotions arouse love and hate alike. On the one hand, they serve to encourage sales and that is always good.
But on the other, it involves lowering the profit margin, which is not always pleasant. But if you want to get your client to choose you over your competition and inspire customer loyalty, it is very important that you offer them different ways to save money.
With solid planning and strategy, you will be able to find the right point between a good promotion for your client and a good return on investment for you.
In this article, we will tell you the 5 most effective eCommerce strategies for running promotions and which one is best for your business.
1) Offer discounts
They are the most awaited by customers. But to really stand out from the rest, we recommend offering attractive discount percentages, that is, from 40% upwards. Yes, this can sometimes be difficult to do with limited margins but it can be incredibly effective if done correctly.
Oftentimes you will more than recoup your losses on additional purchases by your customers. To make this action stronger and more tempting, you can also offer them in your star products or in a specific product line.
If Marc Jacobs was able to do this at his pop-up shop opening in London, then why not try it too. This method involves offering free products in exchange for social mentions. In Marc’s case, it was free clothes.
In e-commerce, this is possible by offering a discount coupon if the user mentions their purchase on social networks (which is also social proof, too ). In WooCommerce it can be done after you install a WooCommerce Social Share Discount Coupon plugin which makes the process easy.
3) Product Storytelling: Stories to promote
It is a strategy that showcases the value of your products to the target market in a different way. This strategy strikes an emotional chord with the consumer's feelings. This is achieved through a figurative or real story that taps into the customer’s subconscious and creates a connection with your brand.
Above all, good stories have an emotional reach, where these sensations create a memory that never fades. This in effect shows that stories attract the attention of the public, and in so doing can help create an emotional attachment to your products by the target audience. Today there are many examples of this type of action, as you see not all of them have to be real, what they must achieve is to transmit and communicate.
4) Create limited editions
Who does not want a unique and unrepeatable product? This strategy often makes the client buy from you because they know that they will not have another opportunity ( the feeling of scarcity and urgency works against it! ).
Limited editions are products offered at a limited period of time. They sell greatly particularly if marketed to collectors and people who love rare items.
Any item or product can be sold through their limited editions. This can include shoes, clothes, cars and even magazines.
5) Gamification: Sell by playing
This strategy is very popular in the gaming and sports industry. It can also be applied to online store business as an avenue of attracting participants to achieve an objective set by your company.
This can be done through discounts, loyalty programs, free versions of your product and service, coupons, and loyalty programs.
In this strategy, levels of improvement must be set based on previously established objectives. As if it were a tiered video game, competitiveness must reign so that this action is in full motion throughout its duration.
It is also important to show the customer what position they are in and how far they have progressed with weekly reports or messages for them to share on social networks, “I have reached level 5”. This type of communication makes your audience want to compete against each other and beat the high score, and in so doing making the action go viral.
