You can mix classic sales strategies with modern services

Something Old, Something new: Combining classic sales strategies with modern Try | Stage Try

Online stores are becoming more and more prevalent, and as demands increases, the offer has started to see a change. Buying things from the internet is not a new trend, and for many years, the proposal stayed the same.

Customers had to accept they would have to pay for goods before they could touch them or try them on. Lately, this tried and tested version of online shopping is being quickly replaced by new models, like Try Before You Buy.

According to a recent study, online shoppers are more likely to make a purchase if they are given the opportunity to try before they buy. In fact, nearly 60% of respondents said they would be more likely to buy from an online retailer if they were given the chance to try out the product first.

There are a few reasons why Try Before You Buy could be a valuable proposition for online retailers. For instance, it allows shoppers to get a feel for the quality of the product before they make a purchase.

Also, it builds trust between the shopper and the retailer. And finally, it gives the retailer an opportunity to upsell the shopper on other products or services that they might be interested in.

But does this new model -and those similar to it- mean the end of traditional offers and ways to capture new customers? No. In fact, they complement each other and with some planning, they can all benefit your store in the long run.

Combining the attractiveness of discounts and cashback promotions to new customers, with the long-term, trust-building customer loyalty effects of Try Before You Buy, your e-commerce could be sitting on a gold mine. Let’s explore how you can implement the trusted oldies with the brand-new service and the results you can expect from this combination.

 

Why you should keep using old-fashioned promotions:

Classic sales strategies have a lot of benefits

  1. They can help you move inventory quickly.

If you have items that you need to clear out of your inventory, discounting them can be an effective way to do so. This is especially true if the items are seasonal or have been sitting in your inventory for a while.

  1. They can attract new shoppers.

If you’re looking to attract new shoppers to your store, offering a discount can be an effective way to do so. This is because shoppers are always on the lookout for a good deal, and a discount can be just the thing to get them in the door.

  1. They can help you boost your sales.

If you’re looking to boost your sales, offering a discount can be an effective way to do so. This is because shoppers are more likely to purchase items that are discounted, so you can move more product with a discount than you would without one.

  1. They can help you build customer loyalty.

If you offer discounts regularly, shoppers will begin to see your store as a place where they can always find a good deal. If you pair this with a service like Try Before You Buy, you can create solid customer loyalty. This loyalty can lead to repeat business and customers who are more likely to recommend your store to others.

Be aware of these side effects of old-fashioned promotions

Be careful when using discounts in your store

  1. They can eat into your profits.

If you offer a discount, you’re essentially selling your product for less than it’s worth. This can eat into your profits and make it difficult to keep your business afloat.

  1. They can devalue your brand.

If you offer discounts too often, shoppers may begin to see your brand as being cheap or unworthy of their full purchase price. This can lead to a loss of customers and a decline in sales.

  1. They can attract the wrong type of shopper.

If you offer a discount, you may find that you attract shoppers who are only interested in getting a good deal. These shoppers may not be interested in your product or brand, and they may not be interested in becoming repeat customers.

  1. They can lead to decreased sales later on.

If you offer a discount, you may find that your sales decrease when the discount is no longer available. This can be frustrating for shoppers and lead them to take their business elsewhere.

 

Let’s talk about discounts

There are many ways to set up discounts in your store

Discounts are a common marketing tool used to attract and convert customers. There are a few things to keep in mind when offering them to online shoppers.

First, don’t discount too heavily or too often, as this can train shoppers to expect discounts and erode your profits.

Second, focus on offering discounts on items that have a high margin so that you’re still making a healthy profit even after the discount is applied.

And finally, make sure to communicate the terms of your discount offers clearly so that there are no misunderstandings down the road.

When used wisely, discounts can be a powerful tool for online retailers. Here are some ways you can apply discounts to your products:

  1. Offer a Percentage Off Discount

One of the most common ways to offer a discount is to give a percentage off the regular price of an item. This type of discount can be effective in getting shoppers to purchase, but you’ll want to be careful not to discount too heavily as this can erode your profits.

  1. Offer a Fixed Amount Off Discount

Another common way to offer a discount is to give a fixed amount off the regular price of an item. This type of discount can be attractive to shoppers, but you’ll want to make sure that the fixed amount is significant enough to get shoppers to pull the trigger on a purchase.

  1. Offer a Buy One, Get One Free Discount

One way to offer a discount that can be very attractive to shoppers is to offer a buy one, get one free deal. This type of discount can help you move inventory quickly, but you’ll want to make sure that the items you’re offering are ones that you’re comfortable selling at a discount.

  1. Offer a Free Shipping Discount

Another way to offer a discount is to provide free shipping on orders over a certain amount. This type of discount can be effective in getting shoppers to purchase, but you’ll want to make sure that the free shipping threshold is high enough so that it doesn’t eat into your profits too heavily.

  1. Offer a Limited Time Discount

If you want to create a sense of urgency around a discount, you can offer it for a limited time only. This type of discount can be effective in getting shoppers to purchase, but you’ll want to make sure that the time limit is realistic and that you can honor all orders placed within the discount period.

 

And what about cashback?

Cashback offers have become very popular and can help you bring in new customers

Cashback offers are a type of discount that allows shoppers to receive a percentage of their purchase price back in the form of cash.

This can be an effective way to attract new shoppers and boost sales, but it’s important to remember they can eat into your profits rather quickly.

You’ll need to carefully consider whether a cashback offer is right for your business before implementing one. Here are some ways to use cashback offers in your store:

  1. Offer a Percentage Cashback Reward

One way to offer a cashback reward is to give a percentage of the purchase price back to the shopper. This type of reward can be attractive to shoppers, but you’ll want to make sure that the percentage is significant enough to get shoppers to pull the trigger on a purchase.

  1. Offer a Fixed Amount Cashback Reward

Another way to offer a cashback reward is to give a fixed amount of the purchase price back to the shopper. This type of reward can be attractive to shoppers, but you’ll want to make sure that the fixed amount is significant enough to get shoppers to pull the trigger on a purchase.

  1. Offer a tiered Cashback Reward

One way to make your cashback rewards more attractive is to offer a tiered reward system. This type of system can be effective in getting shoppers to spend more in order to earn a higher cashback percentage or amount.

  1. Offer a Limited Time Cashback Reward

If you want to create a sense of urgency around a cashback reward, you can offer it for a limited time only. This type of reward can be effective in getting shoppers to purchase, but you’ll want to make sure that the time limit is realistic and that you can honor all orders placed within the discount period.

And now we mix them all together:

Combine old and new strategies for the best results

Offering a combination of cashback, discounts, and Try Before You Buy can be a great way to attract new shoppers and boost your sales. This is because shoppers are always on the lookout for a good deal, and a discount can be just the thing to get them in the door.

And this is where the Try Before You Buy service comes in. They’re already in your stores, looking at those discounted products, imagine if now they discover they can try them -and many more products- before investing a single penny. They’re yours now.

If you want to get as much out of each of these options as you can, make sure to plan them very carefully, keeping your earnings margin and operation needs in mind.

Services like Stage Try’s Try Before You Buy toolkit are a blessing when it comes to implementing all these sales methods. You can offer a Try Before You Buy service with a one-click, no hidden fees check-out button.

We also offer a complete Store Dashboard, which includes all the tools you need to manage discounts and cashback promotions, as well as your new service, and even more marketing tools.

We would love to tell you all about the Stage Try solution for online stores, so book a demo today, and let’s talk all things e-commerce!

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