A simple mental process, although simple and logical, might also be wrong. Thinking “the more one item costs, the more I, the seller, will gain from selling it” is not logically wrong, but the market system is not this linear.
That’s why you shouldn’t think that offering discounts on your products could decrease your income… you could actually gain a lot more by offering discounts.
According to a marketing research performed last year in the UK, more than half of the consumers only buys items when they find deals or offers available.
It’s no coincidence that the world’s biggest online stores (Amazon, Aliexpress…) display daily offers and create themed events around them. Which is the same reason why people in the US go crazy for the Black Friday sales.
Just like any other tool, you need to know how to use it in order to realize its full potential.
A good deals and offers system:
- Will keep your customers loyal
- Is a quick and easy system which is simple to keep track of, offering a lot of data for analysis.
- Increases the conversion rate on your store.
- Keeps new customers coming to your store..
Let’s now see in detail which kind of deals you may offer on your WooCommerce based store and how to offer discounts in order to achieve a higher income.
Show your discount
First off, it you wish to offer deals to your customer, you better make them aware of it as soon as you can.
That’s why it’s always a good idea to apply a mark on the image of a discounted product, to make it stand out among the other products and catch the viewer’s attention.
As you can see in the example above, in case of discounted items, a superimposed mark was applied, effectively notifying customers of your discounts at a first glance.
This mark, other than showing the discount rate, also shows how much money is effectively saved on that specific deal, which looks immediately more motivating for customers.
Besides, the mark makes a discounted product stand out in the items list and customers who are browsing your website immediately receive a positive feedback.
A quick and easy way to do this on your WooCommerce store is by using the Badge Management plugin which allows you to create icons containing specific words, discont rates and much more.
Don’t underestimate the power of displaying your discounts: the Corkscrew Wine Merchants showed a 148.3% increase on sales after offering discounts.
Use discounts as rewards
Another effective way to exploit the deals and offers system to earn more money is to save certain deals for customers who perform a specific action only.
For instance you may offer discounts as rewards for customers who leave product reviews, which will work as a strong incentive for these customers to make further purchases.
But this concept may have many other uses as well:
- A discount in exchange for a “share” on a social network – Social networks are one of the most powerful marketing tools in the world and for this reason, offering a discount in exchange for thousands of extra views can be a great move for your store! (a great way to do this easily is using the Share for Discount plugin).
- A discount for customers who reach a given amount of reward points, setting up a loyalty program will keep customers coming to your store and make them feel rewarded for this.
- A discount in case of customers performing multiple purchases, once a given amount of items or total price is reached.
Another very effective use of promotions is to make them last for only a given amount of time.
For instance, it would be a wise idea to show a countdown in the product page (in case of a single item):
Or even in your homepage (in case of a specific offer):
And these were only a few uses for deals and offer systems that can help you in your business.