In today’s Coronavirus world where the consumer are nervous about what is coming in the future and are looking to control their outgoings. You need to consider discount offers? and which type of offer is right for your companies brand. Building an online business will generally involve a lot of research to understand what works best for the company. The best approach is to choose an end goal for every digital campaign and offer deals, start small and analyse the results. accoding to www.softwherediscounts.com
There are multiple types of discounts and offers you have at your disposal. Percentage-based discount, Dollar/Pound value discount, free shipping and a free gift.
One popular way to offer discounts is through percentage-based discounts. This can include smaller incentive percentages like 5% or 10% off, or much more significant discounts to really drive sales like 20% and 25%, or significant percentages like 50%+ to liquidate old merchandise.
Monetary value discount can be positioned as a credit. This makes customers feel like they’re wasting money if they don’t use the credit. Pair one of these with a minimum purchase amount to increase its impact, like “Spend $250, get $30 off ”.
Free shipping: Shipping costs are one major reason for shopping cart abandonment. Offering free shipping is a great way to mitigate this and increase conversions.
Use free shipping in conjunction with a minimum purchase requirement to bump up your average order value, which you can set up as a shipping setting in Shopify. You can even combine your free shipping offer with other seasonal promotions, like a 20% discount code for email subscribers, to increase the value of your offer.
A free gift with a purchase can be a great way to provide extra value to customers. If used properly, it can also be used to increase your average order size or to get rid of product that isn’t selling.
Skipping the code can help encourage orders, and speed up checkouts too. U.S. customers who started checking out with a discount already applied were 1.8 times more likely to place an order than without a discount, and they checked out 25 seconds faster with an automatic discount compared to a discount code.
Another major reason for cart abandonment is security concerns: many customers decide not to finalise their purchase because they are worried the payment will not be secure. Make sure you offer secure payment options that make customers feel confident that their private financial information will not be compromised. This is particularly important in the context of the COVID-19 pandemic as cybercrime is on the rise .