The reason why you’re in business is to make a profit and maximize it for that matter. One of the ways you can achieve this is by looking for ways to intensify sales. For you to realize this, however, you must employ ways to bring in more customers and win their loyalty. Whether you’re running local retail or an online store like a WooCommerce website, you have to always be proactive and creative to renew customer trust and enthusiasm towards your business.
Some of the giveaways you can employ are discounts, seasonal offers, and deals. At the end of the day, customers are always interested in getting the best deals at the least possible price. By best deals, they’re looking for quality, quantity and a good price.
That’s to say, regardless of whether you’re using a WooCommerce discount or any other offer, the three – quality, quantity and a good price – must be taken care of.
Statistics Relating to Sales Promotions
Research shows that close to 93% of customers use coupons to shop and more than 90% always search the web for deals whenever they want to buy something. A combination, therefore, of quality products and a discount, offer, or deal is likely to result in higher sales.
Up to 55% of those who trust email marketing prefer deals that give them lower prices. And if you choose free shipping with all other factors remaining optimal, you’re likely to see a 4 to 5 times rise in sales. There are so many other approaches to promotion, including using a bonus pack. In fact, research conducted by Akshay Rao of the University of Minnesota’s Carlson School of Management found out that consumers prefer being given bonus packs more than a reduced price.
The reality of online commerce is what has compelled eCommerce systems like WooCommerce to do a lot more to meet the dynamics of the market. The WooCommerce discount, offers, and similar tools have been introduced into the WooCommerce plugin simply because the market’s demand for such services has grown over time.
Moreover, research has also revealed that more customers are willing to remain loyal to a business, provided the business offers them quality products and services, as well as pocket-friendly prices.
Planning for Promotions with WooCommerce Offers
Before effecting your discounts or deals, you must do some groundwork. A little research for a better understanding of the market is necessary. It would be a disappointment if you run a promotion only to end up realizing zero increase in sales. What would work best for you? Is it discounts? Could it be an offer? How about bonus packs? Is a combination of a few options likely to give better results?
In addition to understanding your target market and the approach to use, determine the promotion duration. In some cases, however, the duration could be dictated by the season.
As part of the planning, identify and prepare the tools needed for the promotion. Understand them well, including deployment and how to effect modifications where necessary. If you’re using discounts and offers, most eCommerce platforms come loaded with the right tools to help you get started. In WooCommerce, for example, the WooCommerce discount is actually pre-built. All you need to do is activate it. The same is true of WooCommerce offers.
On matters pricing, do a little research on what your competitors are offering and how the price you settle on would affect your profit margins in case sales don’t rise and vice versa. As you do this, also consider what kind of impact either scenarios would have on the health of your business.
Breaking the News to Your Customers
Deployment of your promotion would make the difference between whether customers buy or not. Let it come with a bang. Make it convincing. Ensure it makes the target market feel a sense of urgency. In WordPress, the WooCommerce discount can be released using text, posters, email blasts and integrated social media management tools or APIs. This must be done in such a way that both the existing and potential customers feel the need to purchase right away if they’re to reap the outlined benefits. Phrases like “as long as the stock lasts,” “first 10” etc can be injected in relevant promotions to entice the customers to make their purchase as soon as possible.
The beauty of using WooCommerce is its many promotional options. WooCommerce discount, coupons, offers, points and rewards, vouchers, and more are available either as part of the WooCommerce core or as plugins. These make the whole promotional process effortless.
You can also employ free shipping, product bundle discount, minimum order discounts, members-only offers and discount on return purchases.
Stock Taking After The Promotional Season
A substantial increase in sales due to promotion would be quite obvious to you. For a better understanding of the benefits, however, a deeper analysis is necessary. You’d definitely want to know how every day performed, whether new or existing customers made the highest purchases, and which promotional approach gave the best results. If you used WooCommerce offers, you can easily retrieve insightful reports relating to the promotional period from the system.
Whatever tool you used, there must be a way to fetch sales reports so as to get a better picture of how effective the promotion was. When examining the reports, try as much as possible to establish the strengths and weaknesses of the promotion, what worked and what didn’t and whether there are things you need to adjust in your next promotion.
Where possible, seek feedback from customers regarding what they think about the promotion and what kind of offers would appeal to them most.
Things To Always Remember
Discounts, offers, and deals have become quite common. And it’s because they’ve successfully been used by businesses to boost sales. In fact, that’s why WooCommerce offers and discounts nowadays come as part of the plugin. Yes, the developers are well aware that at some point, users will need these tools. The good reports by businesses notwithstanding, it’s important to be aware that promotions aren’t always successful and that’s why you must always approach it with due diligence, but also with an open mind.
The other thing you shouldn’t mistake is that low prices will automatically attract customers to your business. No one is going to buy a substandard commodity or service simply because it’s low-priced. Therefore, quality must be part of what defines your business.
Of course, you’re already aware that packaging too can’t be overlooked.
For example, if it’s a WooCommerce discount, offer, or deal, it must be accompanied by a professional design that would attract the attention of your customers, existing or otherwise.
Always try your best to have an edge over your competitors. Isn’t that obvious?
Happy promotion! Happy selling!