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Are you an eCommerce owner? Are you offering discounts to generate new customers? Do you know the basics of a discount marketing strategy?
Here are some stats and facts you need to know.
eCommerce Tips: Discount Stats and Facts You Need to Know
Performance metrics
Top benefits of discounting
Discount testing
Keeping customers engaged
Discount timing
Discount is one of the most popular and effective ways to drive sales and increase profits.
But discounts can be a double-edged sword. Discounts will attract customers, but executing discounts the wrong way could kill your profits and eCommerce business.
You need to create a discount marketing strategy. Decide what products to put on discount when to do it, and how big the discount you offer.
Measure the results and improve your marketing strategy.
eCommerce and Discount Tips
Reward Loyal Customers.
If customers spend a certain amount on your eCommerce site, you can offer them a discount code on their next order.
Statistics show that 76% of customers want personalized offers based on their purchase history.
Rewards based on your customer’s previous purchases are an effective way to personalize offers and increase sales.
Offer Free Shipping.
Free shipping is an attractive method. Statistics show that people will pay for shipping but they love free shipping.
Also, many eCommerce reports show that free shipping can increase sales.
Have One Welcome Discount Code.
A welcome discount works well for things like signing up for your email list or placing their first order.
Keep It Simple.
Keep your discounts super-targeted and limited. There is no need to have many discounts or promo codes on your eCommerce site.
Focus on value and quality than discounts. It’s a better long-run business strategy.
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