15 ideas for special offers for marketing your online business
Offers and incentives can be a great way to help you replace the 5% – 10% of the customer base that every company loses each year. While the profit margin can sometimes be a little lower, offers to stimulate repeat purchases from existing customers and attract new loyal customers which is very beneficial in the long run! Always remember: “When you give a little, you gain a lot.”
We present you with 15 ideas for special offers that can be used to attract attention on social media, motivate your customers to participate, and most importantly – gain additional sources of income!
1) Buy one, get one for free
This is a very common offer, most commonly used for lower-priced products, offers often made by large companies that sell large quantities at a lower price. Results show that this offer works much better than a 50% discount.
2) Prize games
Highly successful in promoting high priced products and services, the greater the incentive, the more people will compete. For example, many travel companies offer the winner a free vacation, or furniture companies awarding an expensive piece of furniture.
3) Free shipping
It is used by companies that provide delivery service. Especially useful for fast food businesses. This offer is becoming increasingly popular in online stores such as eBay and Amazon where customers shop online and have products delivered directly to their door.
4) Gift vouchers
Vouchers can be used to give customers a discount when paying for a product or service or to request a free gift. It improves customer loyalty and makes customers feel appreciated.
5) 10% or 15% discount
This offer is especially good when selling a product that is outdated or the sales of that product are declining. It is also a good idea to offer this if you are focused on a target group, such as student discounts, as they tend to have less disposable income or clothing stores that target younger customers.
6) Loyalty cards
Loyalty cards have been very successful in the last 10 years with the rise of fast-food chains and online clothing stores. This gives you a better chance of gaining a loyal customer base.
7) Free workshops
Good tactics for companies that organize workshops, courses, seminars, or need to explain how they work or use the products.
8) Discounts for students
Student discounts have been used successfully for years and they are especially useful for selling clothes, accessories, and food. Many clothing, fast food, restaurant, social business companies such as movie companies and online stores offer student discounts of around 5% to 20% to attract one of the largest demographic groups.
9) Free testing / Try before you buy
It is often used because the customer does not fully trust the product or does not understand it, so the company offers a trial period, and customers buy it after the trial period is over. It is especially used by companies that sell products at high prices or companies that offer software for computers and other technology. It also works great for food and beverages – a free sample often leads to order.
10) Cashback / Refund of a percentage of paid funds
Many companies have started offering money as an incentive for customers to buy into their business. This option is most suitable for large businesses but can be a motivator for the customer to buy from you, not from the competition.
11) Gift Cards
Gift cards can be a great way to attract customers, and they are especially great for the holiday season. For example, one of the best ways to use gift cards is around Christmas, when families buy each other
presents. If the customer does not know what to buy to their loved ones, they can simply give the card as a gift. This is a great way to get new customers.
12) Package deals
You can create a group of products or services in a “package” to make people spend more than they would otherwise. This offer is especially popular with travel agencies which instead of offering flights and hotel separately, include everything in a package and sometimes offer a discount for customers who do it this way. Another example would be grocery stores that sell “package meals”, where customers can buy a sandwich and get a drink or french fries for a lower price.
13) Buyers guarantee
This offer can work great for businesses like technology and other higher-priced products/services. Also great if you have a new product that you want to introduce to the market. Customers are more careful when buying products at higher prices such as laptops, washing machines, tablets, mobile phones, and such. However, if a company provides a money-back guarantee – for example, “if the product breaks down within a year, we will refund your money or get a new product” – the customer will probably be persuaded to buy because it will feel safe.
14) Better payment terms
For example, “buy now, pay the whole year.” This offer is very successful for large automotive companies and high-tech companies. This offer allows customers to buy a product and either pay the full amount a year or two later (with additional interest) or pay a fixed monthly amount. Works very well when customers can not pay the full amount. For business products or services, you can offer terms such as payment on delivery, payment on results obtained or payment on completion.
15) Free initial reports or consultations
This offer will help you to make your customers feel comfortable with your services, after working with you for an hour or receiving an initial consultation, this will give you more confidence and customers will more easily decide to trust you.