A time is coming when most online stores will be faced with the tough decision of whether to offer discounts when to offer discounts and most importantly, how much the discounts should be worth. While offering discounts is considered as being one of the best conversion tool, it has its own hidden risks which can easily ruin a brand. In this post, we will define the entire discount idea and at the time review some of the main pros and cons of offering deals for your online store.
What is customer loyalty?
Customer loyalty is when a customer purchases your brand from time to time over any other brand, based on a previous interaction he had with you. Generally, customers are loyal to brands because of their positive experience, quality and consistency. Some also stick to specific brands because of the loyalty programs which reward repeat shoppers.
Are there online techniques for developing customer loyalty?
Yes, there are. As you probably know, e-commerce is fast taking over the retail market. More and more retailers are opening online stores and are doing all they can to persuade customers to make online purchases. Discounting of different goods and provision of deals on purchases made online are just some of the many ways being used by retailers to persuade customers to make purchases.
What are some of the most common online offers, coupons and discounts?
There are different types of offers and discounts that e-commerce websites use to woo clients. Some of the most common types include percentage based discount, dollar value discount, free shipping offers, and free gifts. Percentage based discounts include small incentives of around 10% to 15% off on prices of specific items. This offer is normally used to liquidate merchandise that is old or is not moving.
Free shipping involves footing the entire bill of delivering an item to the person who ordered it. Basically, shipping costs are one major reason for shopping cart abandonment. According to analysts, some shipping charges normally surpass the total cost of the items being purchased. By offering free shipping services, you will easily increase conversations since many clients will easily take note of your efforts to help them spend less. A point to note when going for this option is always to have a detailed understanding of how much money you are making out of the deal. If the free shipping offer will cost you, avoid it. You can do this by simply excluding shipping rates over a certain amount or limiting the offer to specific countries.
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