How Discounts Affect Consumer Behavior
Consumers are out there actively looking for things to purchase. The job of marketers is to catch their attention and convince them that they should be getting particular products. This isn’t as easy as it sounds given the stiff competition in virtually every product category. Rising above the crowd in a noisy environment takes great skill and smart planning. Most will use proven tactics to get ahead. This includes providing some sort of discount to attract buyers and leap in front of the competitors. There are useful statistics that can serve as a guide regarding the allocation of resources including those below:
The rate cut can come in the form of free shipping which is particularly suited to online sellers. Internet shopping is convenient but the fact that the products need to be delivered from the warehouse to the buyer’s door means additional expenses. Somehow, someone has to pay for it. Efficient logistics have resulted in lower costs per delivery to the point where it can be almost negligible for sellers. It would, of course, depend on the items in question and the difficulty level of the shipment. If the items are small and the combined price is high enough, then sellers can offer free shipping. This is often the case for e-cig vendors which set their own minimum amount.
Another way to turn heads in this game is to offer coupon codes that shoppers can use to lower the cost of their orders. According to a study, up to 93% of shoppers actually use various discount or coupon codes throughout the year. That is an overwhelming majority which supports this type of marketing. And why not? These are essentially free money that’s being thrown around by manufacturers and merchants. It would be a big waste if they didn’t make the most of these deals. For instance, click here for Juul coupon code to try their products. The site https://www.volcanoecigcouponcodes.com also provides some examples.
Psychology plays a big role in marketing. The message should be carefully crafted to ensure a good response from consumers. You could say the same thing in many different ways and each would get you varying results. For example, you might tell the customers that a certain item is being offered at a 50% discount. This is definitely a generous discount that would get them thinking. You could also tell them that you are offering the same item on a “Buy 1, Take 1” basis. The latter is essentially the exact same thing if they do the math but it can be more attractive because they are getting something extra as per the wording.
These discount offers including coupon codes, buy one take one promos, and storewide sales should be published on as many platforms as possible to reach the intended audience. Post them on the store’s front page, on the company’s website, on the social media pages, on mobile app notifications, and on email blasts. There are lots of people who are skeptical about email marketing but it has proven to be a reliable generator of results. According to one study, as much as 70% of respondents used discounts sent to them via email from the previous week.
Yet another way to convince people to buy your products is to provide them with bonus packs along with the primary item. You can see this technique being used in many big-ticket electronic items. For example, laptops are often sold with an accompanying backpack as a freebie. Others might buddle them with mouse and keyboard. These bonus items are low in cost so they don’t really hurt the profits. The important thing is that the main item has been sold in greater quantities. In the same way, e-cigarettes may come with free liquids or carrying case, flat-screen televisions may come with wall brackets, and so on.
Although free shipping is highly sought after, nothing gets people’s attention more than deals that involve price deductions. More than half of respondents in a survey on email marketing said that they prefer taking money off of the purchase price above all, including loyalty rewards. This might be done by including exclusive coupon codes with the emails with a fixed value off or a certain percentage of the total order. Make sure to send a good message along with them.