Great Ideas! – How to Capture Market Share and Show Growth
Great Ideas! – How to Capture Market Share and Show Growth
Marketing strategies – reduced prices, specials and vouchers. At some point, your website business needs has to take action in applying formulated growth-strategies. Caution needs to be exercised however, to ensure that no harm is done during this phase of the marketing venture.
Following here is a number of pointers that will research marketing strategies, the benefits as well as the pitfall to avoid. We will also look at consumer price incentives, their adherence to a certain product and business sense that will be of benefit.
As part of this discussion, we will make reference to such things as reduced prices, vouchers and other related means as “specials”. We will look at the following points:
• Benefits and pitfalls of web-based specials
• The target market for specials-deals
• Various designs of specials-deals
• Applying principals in establishing specials with consumers
• Being creative in specials, vouchers and deals
Benefits and pitfalls of web-based specials
As a start, its a good plan to first examine the benefits and pitfalls associated with special-deals, prior to delving into the design and layout points.
Benefits in web-based special deals:
• Simple and user friendly with online services such as ConveyThis.com
• Smart-tools located within ConveyThis.com that will facilitate process
• Raise product demand
• Raised acceptance
• Fast turnover of product
• Achieve projections
Pitfalls in web-based special deals:
• Lower returns on sales and income
• Product looses market acceptance
• Loose potential customer acceptance during low special-deal times
• Possibility of cost-comfortable customers down focus
• Reduction of volume requests from consumers
• Reach a consumer-base not related to product
The target market for specials-deals
Noted above, web-based special deals brings a strong means to draw client incentive and product acceptance. Also, take careful note of the total product and marketing approach, prior to placing special-deals on the shelf.
With this in mind, should the product be superior in nature, it makes business sense in providing trusting-client incentives rather than daily specials. In retrospect, should business be exceptional, a good special-deal on a regular basis may suite your needs well.
In the end, take note of deals that is positive to product performance. Establishing a profitable web-based presence takes time to design, implement and grow. A knowledgeable start, would be deciding on a specific area of approach and individual areas to focus on. Use a marginalized approach from the outset to test market sentiment and gather usable data.
Various designs of specials-deals
A number of special-deals and voucher may be considered. Here is a few of note:
• Ratio-specific deals
• Currency rate deals
• No transport costs
• Incentives on-offer
All of the above may-be made available via the following type deals:
• Ongoing regular specials
• Special-deal numbers
An effective means to introduce special-deals, is via a ratio-based method. Using this method, lower ratios on deals, for instance – figures in the region of five-percent and ten-percent reduction in price or may be greater at twenty and twenty-five and even as much as fifty-percent and over in moving stagnant and outdated product. A variation of prices may be introduced across-board to merchandise in categories and areas. An example will be – purchase 2 and get half-price on another.
Currency-rate deals may be offered as an incentive value. Customers will conclude that not using the offer, is a bad idea. An example would be to offer deals such as “buy for 150 Dollars and have a discounted 15 Dollars at checkout”.
An common-sense idea , when faced with the decision of ratio over specific-amount deals, notes to the concept of “one-hundred”. Should the product be lower than one-hundred Dollars, make use of the ratio deal, if above that amount, the specific special-price deal applies. Its noted as an mental-concept, sensitizing the client to a “good-deal” idea.
No transport costs:
One of the largest rejections from customers is transport costs. Providing a service with a no-transport tag, will draw clients and maintain business.
Providing a “no-transport” cost-incentive, coupled with a certain spending amount to use the offer. Also ad another monthly or other type incentive here, related to online buyers getting an extra-off when using a prior special-deals tag.
Handing special-Incentives as a offer to individual buyers, will make happy clients. It may also be applied to raise purchase volume and stationary-standing stock. Use this same principle for instance, in advertising the purchase of a minimum number of items, that will get the client special incentives.
Ongoing regular specials:
Regular specials will form part of all orders placed. These will be advertised on buyers sections prior to purchase. This is an excellent means in providing special stock-deals to clients and exclude number-tags related to specials, that take time.
Excluding the number-tags makes shopping a breeze and saves time all round. Its noted within the American market this year, that consumers that held special vouchers have a greater possibility of buying, than should they not have had such a voucher in hand. Also, their buying response is up to twenty-five seconds faster with readily included special tag-deals than those with just manually entered and time consuming number-tags.
Not withstanding, its noted too that should there be a special voucher in place with in the buying online page, the client has no need to look up a voucher number-tag, and no problematic communications if not found. These pointers will make for a happy client and a definite return to shop the site.
Special-deal numbers are digits for the clients buyer-page service. In other words, when purchasing, the client enters the numbers to access a special-deal. This method works well with certain customers including regular buyers and first-time clients.
These special-deal numbers, may guide and keep records of effectiveness within the advertising efforts and strategies. During advertising processes, holding separate special-deal numbers for each, will guide the successfulness and responsiveness of the process overall.
The way to disseminating special-deals to increase client responsiveness
Multiple many avenues may be navigated to draw client attention, interest and trust. We will have a look at few of the top-notch approaches in the market today:
A. Calendar deals
The regular styled approach to draw attention. Also implemented in calendar-day sections to boost income during quite spells.
B. Opening deals
Should the company not yet have gone live online, opening deals are a sure-fire way to attract attention and potential clients, as long-standing active buyers.
A brief case study: A toy shop employed the method to great benefit. Customers handed personal contact information over and in return received a twenty Dollar, special-deals voucher. Marketing was undertaking via a social media platform.
C. Special and vacation days
These special -day deals and vacation times have great potential. Also remember other days of significance that will provide opportunity to implement incentives to your clients.
A brief case study: A company focuses on vacation styled days. There marketing strategy is to head-out to new and current clients via the multitude of online platforms available.
D. Non-collected specials
Its estimated that around seventy-percent pending orders are never flowed through on. This is a great incentive to draw a client to return to market. Extra deals and voucher can be a appetizing treat.
A brief case study: company XYZ hosts a website and publishes that non-collected buy orders, carry a special at offering a one-Dollar transportation deal if the buy-order is completed. Buyers will find this alluring and help a decision to finalize the order.
E. Media incentives and deals
Gathering customer information stays top priority with businesses. Having an incentive deal at hand in return for potential client contact information is sound practice. This method will take you to the client directly to negotiate trust and partnership for a long term deal.
F. Special vouchers and deals for spreading your product line
The difficulty faced in advertising a start-up website business, is well known. Providing a shopping voucher or special-deal to get the the site on the map, is a time stamped method of advertising spread around between people.
G. Customer-driven marketing
Potential client will be draw by other like family and friends that also shop at the store. Provide incentives to customers if a new client is directed to the store or for a successful purchase. This is often a very appetizing way to draw business.
A brief case study: Food outlet ABC provides a excellent service and does business via these means. Specialty deals are on the table for directing business to the outlet. Giveaway deals are very popular with them and large and lucrative incentives brings loads of business to the door.
H. New customer deals
Introducing great specials to new customers is a push in the right direction to engage in a real online buyer experience. Giving deals such as fifty-percent off for a new customer or a an percentage off a specific item will be regarded as a good deal.
I. Special price on certain amount purchases
Advertising a special offer should a client spend a certain overall amount, is good business. This can be extended to larger orders with higher incentives. A good way to approach this is by understanding the regular amounts spent during a period, then to provide special deals or no-cost transport, if say ten to twenty percent above the purchase amount is bought.
Having good deals on itemized goods that are sure to sell, also make sense. Dropping the price on selected goods is also very attractive.
J. Special advertised deals
Special media deals advertised is also a excellent marketing strategy especially for regular client base. This will also expand the media footprint of the business and open new opportunities in marketing. Great deals can be placed on media platforms routing one to the other with say fifteen-percent discount on a buy order.
K. Long-term client deals
Providing long-term clients with specials, is bonding partnership into the future. Also special-deals to clients that bought from the site. Identifying specific client and targeting them with special-deals. Using data systems to selective clients shopping habits will help to identify them for incentives.
L. Leaving incentives
Should a potential online user prepare to leave browsing the site, a message can appear with lucrative deal on hand. This can also be further expanded and take on the form of message sent to the person giving a more lucrative deal to return and continue to conclude a buy.
M. Running a specials over
Running a special deal again can inform the client that the deal is still on the table should they wish to return. The platform is already familiar with them and suggests to re-look at the products available. Media can also be used to lure a customer with say a special twenty-percent better deal.
N. Status & Significant relations
Getting well know faces to sign or market a product can attract volumes in business. Followers may be lured with special-deals to the site. These associations can also be monitored to know what signature persons brings in the most client to the site.
O. Long-term client special-deals offers
Providing the long-term client with a special-deal as thanks to their support and partnership, builds strong bonds to the product and ongoing sales. Having a long-term client scheme strengthens relations and trust in the client.
P. Website deals
To promote the website by providing deals when engaging the site. Either for further development and to bring a more diverse buyer on-board in handing out great deals. A way to approach this can include the website buy and collection in person at the shop. Consumers will find this satisfying and return for more.
Q. Vouchers at the store
Providing vouchers when a customer makes a buy at the store is also a great incentive. These can be extended to other functions in and around the area. Vouchers can be sent out and used in-store by customers when they ready.
R. Outside venue deals
At functions or venues special vouchers can be handed out as incentives. Potential client will be pressed to use these and more deals may be offered during visits to the shop or online. It will also advertise incentive towards a next function or venue hosted.
S. Long-term goals & deals
With long-term schemes on offer, reaching set goals will provide a opportunity to engage clients. That may include such things as special dates for the client and membership of the scheme, joining date and so on. Also reaching a selected amount of bought items that triggers incentives on the scheme.
Much ground was covered during this discussion. However, with this in mind, some companies may not take to this off the bat, but with a strategy in place and a solid product base, good incentive deals will mean good business.
For building websites in multiple languages that will provide a global business footprint , please contact us today at ConveyThis.com and discuss our special deals on offer.