When your business hits the slow season and your sales have fallen uncomfortably low, you’re bound to be a little nervous. And while any good store owner knows to look at the big picture and think of average daily sales across a year, it can still be tough to feel secure when you’re not getting the traffic that you’re used to. That’s why many companies and small business owners have been turning to online vouchers. If you already have an eCommerce website or any sort of online presence, this is an easy solution. If not, it’s still doable but we strongly recommend building a website.
Online vouchers are codes that apply a discount (with specific parameters) to anybody who uses them when purchasing on your website. They can be either given only to certain partners to use as rewards or distributed freely to one of many voucher websites (for example, you can find great deals on Phase Eight products at https://www.myfavouritevouchercodes.co.uk/phase-eight-voucher-codes).
Navigating through a slow season can be a challenging feat, but strategic use of vouchers coupled with an efficient payment processing system can be great for boosting sales. The key lies in providing customers with irresistible discounts and promotions that not only entice them to make purchases but also foster loyalty. However, the success of such initiatives heavily hinges on seamless payment transactions. Customers, even during a slow season, expect a hassle-free checkout process, and any friction in payment can lead to cart abandonment.
Due to this, ensuring that your e-commerce store is equipped with an efficient payment processing system is paramount. From credit cards to digital wallets, offering diverse payment options is crucial to accommodate various customer preferences. To maximize your e-commerce potential, it’s essential to stay ahead of the curve and ensure that you get the best merchant account for your ecommerce store. This ensures secure transactions, builds trust, and ultimately contributes to a positive shopping experience, even in a challenging sales environment.
You Gotta Give to Get Something Back
How can giving out discounts on my merchandise increase my sales? It’s simple: people can’t resist a good deal. For every 10% off you give to 10 people, you’re likely to have enticed more than 1 person to buy. In addition to this, many people who are drawn to shop with you will realize they want to buy some other things you have to offer. This leads to increases in sales of related products that you offer, even if those are not discounted.
This is a tried and true method for boosting sales during slow periods, but you must be careful to design your discounts well. You don’t want to give so much away that the extra sales won’t supplement the loss, and you don’t want to give discounts that nobody will really want to use.
This is especially easy to do if you have something you want sold quickly or otherwise would have to get rid of, like an obsolete model or a perishable item. With vouchers, you can discount these items and sell them before you have to cut the loss.
Finding the Best Way to Present Them
Timing is crucial when it comes to presenting vouchers to boost sales during a slow season. Identify periods of lower customer activity or slower sales, such as off-peak months or weekdays, and strategically launch your voucher campaigns during these times. Offering exclusive deals during these lulls can incentivize customers to make purchases they might have otherwise postponed.
One often overlooked aspect that can significantly enhance the effectiveness of your voucher strategy is the design of your website. A visually appealing and user-friendly website not only attracts potential customers but also plays a pivotal role in presenting your voucher offers in an enticing manner. Doing an online search for “reliable web development companies near me” and availing their services can ensure that your website not only reflects the essence of your brand but also seamlessly integrates the voucher system, which could subsequently improve user experience.
Moreover, consider the strategic use of your website’s elements to capture the attention of potential buyers who may be on the verge of leaving your site. For instance, you could read this article to learn about exit-intent pop-ups and figure out if you can offer vouchers through them. Additionally, analyzing past sales data can help you pinpoint historically slow periods and strategically deploy vouchers to counteract these dips.
How Much Is Too Much?
When designing your discounts, you want to make sure that you’re making an offer people don’t want to refuse. However, you also need to make sure it’s an offer you can afford to be taken upon. This will vary greatly depending on your type of merchandise and target demographics. For example, you may want to give a higher discount on cheaper items that people might be likely to purchase more than one at a time because bulk shoppers love a deal more than anyone.
Generally speaking, the discount you should start with as a general rule is 20%. This is because you know that for every 5 people that buy your product, you need 1 extra person to buy this product to break even. Whatever the case is for your business, vouchers can be a great way to significantly boost your daily sales during those slow periods.
You must be logged in to post a comment.