Even in these times, when price-slashing seems to have become an epidemic, I’m not a one for recommending cut-price offers willy-nilly. But there are times when a special offer – or price promotion – is appropriate so how to make an offer they won’t refuse?
1. Have an objective and shape your offer accordingly – are you aiming to get new customers to trial your product, bring ex-customers back into the fold, or get existing customers to buy differently?
2. Keep it simple – a clear offer will pull a readier response. Make sure your call to action is a simple one too.
3. Avoid unnecessary conditions – and if you have to make conditions (perhaps to keep within CAP Code rules) be up-front about them. If your customers discover them in the small print, they might feel as though they’ve been had and that’s not good for your reputation.
4. Add value to the customer rather than plump for reducing prices – this keeps their perception of the value you offer steady where a price cut could also reduce their idea of what you sell is worth, making it harder to sell at full price in future.
5. Make it genuinely attractive to your target audience – be original and don’t use your special offer as an exercise in going through the motions. Above all, don’t let is smack of desperation.
6. Add some fun and a reason for customers to engage a little more with your business than simply snapping up a bargain – try a competition or ask for a Facebook like in return.
7. Monitor and evaluate – build in measurements through your response mechanisms or simply by asking where customers heard of the offer to make sure you’ve met your objectives (and, if you haven’t, do something differently next time).
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