3. Discount offers
way. You don’t give the discount right away, so it doesn’t hurt email data your margins. Instead, people pay for the product and ask for the discount later. It’s like saying, “Hey, I’ll give you a deal, but you have to work for it.”
Example
Menards has an offer where you get 11% back after purchase. It’s like saying, “Sure, you pay full price now, but they’ll give you back later.” Refunds are classic examples of sales promotions that give customers a sense of savings while keeping revenue up front.
How to do it:
- Keep it simple: Tell people exactly how to get their refund. Don’t make it confusing.
- Push it: Make it public: on your website, in-store, via email.
- Remind them: Send follow-up emails to make sure they remember to send the refund before it’s too late.
4. Discounts on subscriptions
Who doesn’t love a good deal when you’re committing to something one of the tools that offer many different features long term? Membership discounts are a great way to lock people in and offer them savings. Plus, you get recurring revenue.
Example
Netflix does this by offering a discounted rate when you pay for fresh list a year up front. It makes sense because you are saving them the hassle of monthly payments and they are guaranteeing you that income. Subscription offers are great sales promotion ideas to build customer loyalty.
How to do it:
- Highlight savings: Show them exactly how much they are saving by paying up front.
- Add some perks: Offer bonus features, like free shipping or exclusive content.
- Targeted Renewals: Reach out to people who are about to end their subscription with a renewal offer.
- Keep an eye on it: see how many people stay after the renewal offer.