A well structured Special Offer can be a great way to:
- attract new buyers who can then be introduced to your other products … at FULL price!
- entice back “lost” customers
- get existing customers to return to your business more regularly
- generate repeat business
- boost short-term revenues
- move slow-moving items or “end of season” stock
- fill excess capacity
- achieve other business goals.
Don’t be Half-Hearted! Make it an attractive offer!
Not many people are going to change their buying habits for a 5 or even 10% discount.
If you’re looking for offers to really drive more new customers, you need to think of the discount you’re giving away as the cost of acquiring a new customer – part of your marketing investment. If your customers generally go on to generate a lot of repeat business, then you can probably afford to be very generous with your new customer offer.
- Percentage Off is the least enticing (unless you’re able to give away more than 30%)
- Offering a fixed value off sounds more attractive (even if you need to put a minimum spend as part of the offer conditions)
- Something Free is even more enticing, so long as it’s something customers actually value (free delivery, buy something – get something else free, buy 2 – get a 3rd free, etc
- You might want to prepare your offer to generate repeat business. For example, “start your weekly clean this week and get your 3rd week FREE” or “Get your Nails done today, and Get a Voucher for the next Manicure FREE”.
- Consider the different ways in which your package could be offered. For example: “25% off!” or “Save R50 (when you spend more than R200)!” They might each cost you the same, but could produce different levels of response.
- Bundled offers can work very well, such as a beauty salon offering a treatment along with a beauty product
- The “special” or giveaway need not even be something from your own business. It could be something you purchase from an allied and relevant business (which you buy at a special price, of course!) or a product you know will appeal to your target audience. An example of the latter is when a popular movie relevant to your product or service is released on DVD … do a deal with a DVD rental store and offer a free rental voucher (we can print those for you!) with a specified purchase.