The Basic Guide of eCommerce Offers To Drive Your Revenue

A marketing strategy for eCommerce that you’re still afraid to try is using offers. It’s acceptable that you’re not really interested in using offers because you don’t want to harm your eCommerce business. But if you do it in the right way, eCommerce offers can drive revenue to your business and help you to keep the loyal customers.

To Offer or Not To Offer

Before you jump in right in, surely you have to consider the pros and cons of using offers to promote your eCommerce website. Note that the eCommerce offers can be a discount, coupon, free gift, or free shipping.

Pros

  • Better marketing strategy

Who doesn’t love discount? Your offers may attract your potential customers, even attract new visitors to your website and get to know more about your business.

  • Increase conversion

If done properly, your promotion makes you easier in selling your products

  • Clear the old stock

The quick way to unload your inventory is selling it with an offer.

  • Boost customer loyalty

If your customers are satisfied when getting your product before, getting it again with special offers surely will keep them to come back.

  • Drive more traffic

The more people visit your eCommerce website, the more they know about your brand. Offers let you increasing brand awareness and the traffic as well.

Cons

  • Attract unloyal customers

Beside your loyal customers, there’s also a chance that you will have customers who won’t buy your product unless there’s a sale for it.

  • Decrease profit

It’s unavoidable when you give offers. To ensure that you’re killing your business, take a look at your margin first before deciding to try giving offers

  • Devalue your brand

If you’re not careful in giving offers, your brand will be in danger. For example, the quality of your product will be questioned as you rarely sell it on the normal price.

  • Start a price war

As there are so many eCommerce stores out there, having special offers can lead you to a price war because your competitors can also have one. However, you should avoid a price war. It’s not worth it to hurt your brand and margin just for short-term benefit.

Type of Offers

Here are the basic and simple types of offering you can try to use for your eCommerce offers:

First-Time Shopping Offer

Successfully having someone to visit your eCommerce website for the first time doesn’t mean your work ends here. Getting them to make a purchase is tougher. That’s why you should make a great start by giving a discount for their first purchase.

Volume/Cart Size Offer

Another popular method you’re likely to see is volume or cart size offer. The offer can be free shipping or discount with minimum purchase. It can help your upselling or cross-selling tactic too.

Email Subscription Offer

Like the first-time offer, you can give an offer for people to subscribe your newsletter. With this type of offer, not only conversion will be increased, but you can also get their email address to build your newsletter list.

Holiday Offer

It’s the well-known time to get new customers and bring back your past customers! You can join the other eCommerce websites to create a special offer on holiday seasons such as Black Friday and Christmas.

Retargeting Offer

You can use offers to get your previous customers return back to your website. It’s easier to keep your old customers than trying to bait new ones. Furthermore, you can also bring back those who abandon their shopping cart to continue their checkout on your website.

How To Use Offers

  • Make them know what you’re offering. Place the announcement at where people will see, such as using promo banner in Upscale.
  • Don’t make offers for your signature or popular products. Use it for the product that won’t sell instead.
  • Give expiry date to create the sense of urgency. Limited time offer will make the offer much more effective for your business and not hurt your brand.
  • If you choose to give coupon code, don’t make it too hard for customers to type. FALL17 is better than F56HB7, right?
  • Priority your loyal customers to receive the offers. Send them an email with a coupon code that they will happily use when buying your products again.
  • Determine the length of time to target the cart abandoners with your offer. For the first try, you can target them 24 hours after they abandoned their cart.

 

If you’re using WooCommerce as your eCommerce platform, you can easily offer free shipping and create coupon codes for discounting product or cart size offer. Thus, if you need more, our WooCommerce-based theme Upscale has provided everything for the basic strategy of your eCommerce offers such as sale page and newsletter pop-up.

What type of offers did you try to use and what work best for your eCommerce business? Tell us your experience in using offers in the comment section 🙂

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