DIGITAL MEDIA GHOST
  • Publication
  • #GhostsWriteIt Spotlight
    • Writer Spotlight Submission
  • Services
    • Digital Strategy
      • Content Marketing
      • Law Firm Marketing
      • Social Media Management
    • Ghostwriting
    • Public Relations
      • Social Sabotage & Online Privacy
        • Social Media Policy Template
  • About
  • Publication
  • #GhostsWriteIt Spotlight
    • Writer Spotlight Submission
  • Services
    • Digital Strategy
      • Content Marketing
      • Law Firm Marketing
      • Social Media Management
    • Ghostwriting
    • Public Relations
      • Social Sabotage & Online Privacy
        • Social Media Policy Template
  • About
Search

The Marketing Tactics Of Deals And Discounts

10/10/2017

0 Comments

 
Picture
By Ben Allen, Guest Contributor

People love the feeling of getting a good deal. The idea of saving money but still getting a product they want can entice even the thriftiest of shoppers to drop some money.


Finding the right balance between discounts and profits can be hard, and if you present your deal incorrectly, it won’t do anything. To help, here are some tips on how to market your deals and get people to buy more from your business.



Tips on how to market your deals and get people to buy more from your business.



​Money Is Tight, People Shop the Sales
In today’s economy, a lot of people view themselves as struggling. Even people who have big paychecks and tons of spending money are being more thrifty. This might be because it costs more for the newer generations to do anything than previous generations.

Because of this, consumers are on a constant hunt for sales. Many will turn away from a product they really want if there is no discount attached to it. If there is a variety of products that all accomplish similar things, but there are more expensive options for extra features, they’ll typically go for the cheapest option.

So, if your target audience falls in a demographic that wants those sales (like most consumers) you will need to include deals as part of your ongoing marketing strategy.

The Illusion of Savings
In the world of B2C marketing, savings are essential. People need to see and feel like they are saving money, even if they aren’t. The illusion of savings is one way to still get a good profit but keep consumers happy. In fact, many consumers demand that illusion of savings over simply a lower normal price.

For example, JCPenney once tried to get rid of their illusion of savings. The experiment was to get rid of coupons and instead provide constant low prices. Basically, they got rid of the illusion of savings and instead said “We will give you low prices instead of marking up products and then putting them on sale.” The result was that people stopped shopping at JCPenney because they didn’t feel like they were getting a deal.

Even if you feel like you can’t give a real deal to your customer, the illusion of savings is a necessary evil. Even a tiny amount of “illusory” savings can make a difference between consumers flocking to your business versus a competitor.

Creating Urgency With a Timed Deal
One particularly effective pull with a deal is that people don’t want to miss out on saving money, even if they buy something they aren’t positive they need. It’s why stores have clearance weekends, coupons have expiration dates, and deals rarely last longer than a week.

If deals were to last a long time, people would put off making purchases, and potentially forget about the deal. Having a firm deadline, or not having the exact knowledge of when a deal will end but knowing it will soon, forces consumers to act. Either they have to make the conscious effort to decide not to make a purchase or they have to go out quickly and take advantage of the deal.

If you are wanting to get a burst of sales, consider doing a larger, limited-time sale. This can give potential customers the push they need in order to drop the money necessary to buy a specific product.

Discounting to Make the Sale
A small discount could make the difference between getting a sale and not. Even a 10 percent decrease can be the tiny push between a customer leaving your store/website and making the purchase.

If a consumer has gone through your marketing funnel and gotten to the point where they are about to buy your product, but decides at the last minute not to, there are things you can do to make them reconsider. If you have their information and they put your product in a cart, only to leave it there, you can offer a small discount, or free shipping, to pull them back. If a potential customer is about to exit a product page, utilize a pop up that offers a small discount if they complete the purchase

Capitalizing on a Money Saving Culture
Being able to save tons of money is quickly becoming a subculture by itself. Savvy shoppers look for ways to stack savings anytime they go shopping. While most people don’t go to the extremes to get a hundreds of dollars in savings every month, average people will look for relevant coupons and savings.

If you have a lot of repeat customers, providing coupons can encourage further purchasing from them, but they might also share that deal with others. There are entire businesses and websites dedicated to spreading information about savings and getting one of your deals shared on them can bring in a ton of business. Especially if you sell products that appeal to a large, general market, getting people to share your deals online and through word of mouth can be very powerful.  

Need-to-Have Deals
Your business needs to offer discounts and deals regularly, especially if you are in the B2C market. It’ll help you stand out against competitors and can make potential customers view your products more favorably. Even if you have to use the illusion of sales, make your customers feel like they are getting a deal.
​

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Picture
    Become a Ghostwriter!
    Picture
    Contribute to DMG
    Picture
    BECOME A GUEST CONTRIBUTOR
    Picture
    PROMOTE YOUR BUSINESS BY GUEST POSTING
    Picture
    ARE YOU A GHOSTWRITER? WE WANT TO KNOW!
    Picture
    DO YOU HAVE A GHOSTWRITING BUSINESS?

    RSS Feed

    Categories

    All
    Agency Spotlight
    Business
    Digital Marketing
    Ghost In A Flash
    Ghostwriting
    Media Relations
    Privacy Concerns
    Social Sabotage
    Technology
    Writer Spotlight
    Writing

    Advertising Disclaimer

    Archives

    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    May 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012

Find your domain and create your site at Weebly.com!
Digital Media Strategy
Content Marketing
Law Firm Marketing
Search Engine Optimization
Social Media Marketing
eBooks
Writing
Becoming a Ghostwriter
Blogging
Content Marketing
Ghostwriting Services
Guest Post Guidelines
Media Relations
Online Crisis Management
Personal Brand
Public Relations
Reputation Management
About
Our Team
Our Results
Testimonials
Contact Us
Locations:
New Orleans, LA
Nashville, TN

DMG University
Privacy Policy | Terms & Conditions | Cookie Policy
Digital Media Ghost  @2020
  • Publication
  • #GhostsWriteIt Spotlight
    • Writer Spotlight Submission
  • Services
    • Digital Strategy
      • Content Marketing
      • Law Firm Marketing
      • Social Media Management
    • Ghostwriting
    • Public Relations
      • Social Sabotage & Online Privacy
        • Social Media Policy Template
  • About