Author: 02 Dec 2022minutes read
Deals and discounts are a great way to attract new shoppers and build customer loyalty. In the post-pandemic, high-inflation era, promotional discounts are a way to engage cost-conscious shoppers.
According to a RetailMeNot survey, about two-thirds of consumers have made a purchase they hadn’t originally planned for because they found a coupon or discount, and 80% said they felt encouraged to make a first-time purchase with a new brand because an offer or discount was available.
Throughout the pandemic, consumers flocked to online stores—a boon for ecommerce businesses. Research from Digital Commerce 360 suggests that the pandemic boosted ecommerce sales in the US by more than $218 billion from 2020 to 2021. With a compelling promotional marketing strategy, online brands like yours can tap into a new generation of online shoppers.
Consumer preference for deals, coupled with the growth of ecommerce, highlight how setting up promotions can be critical to helping you achieve your business goals.
You can use coupon code promotions to entice shoppers to visit your online store. This can be done by either featuring the coupon code in an ad or creating unique codes for influencers or other partners that you’re working with. Unique codes are a great way to track the success of a particular advertising channel, promotional campaign, or partnership.
Promotional codes can be used to encourage shoppers or existing customers to try one of your new products. Because it can take time to gain traction on and build up reviews for a new product on your site, promotions can be used to bridge the gap, allowing shoppers to try out the product at a discount. Promotional discounts can be used as an incentive for shoppers to give products from a new brand a try.
Once you acquire a customer’s email address, you can build a direct relationship through remarketing engagement emails. There are several ways to acquire customer information from your ecommerce site, two of which include: 1) when a shopper places an order, and 2) if a shopper signs up for your newsletter or mailing list. To encourage shoppers to sign up for your newsletter or mailing list, you can offer a promotional code that activates after they validate their email address. For example: A shopper submits their email address on your site and then have to validate it in an automated email they receive.
Promotions are a great way to sell products with excess stock, especially when you have additional inventory after a big campaign or peak shopping season such as the holidays. Running a promotion on overstock inventory not only helps drive more sales, but also helps reduce inventory storage costs.
Buy with Prime promotions can help you achieve your business goals by engaging Prime members on your site. Shoppers have different expectations when it comes to deals and discounts, but there are two key types of promotional experiences Prime members will love, including:
Brands use a variety of tactics to use discounts and deals to engage shoppers, and below are six tips that can help you build an effective promotional strategy for your ecommerce business:
Learn more about promotions and how to set one up for your Buy with Prime products in the knowledge center. If you’re not a Buy with Prime merchant and are interested in adding it to your ecommerce site, join our interest list.