Ditch the Discounts: Implementing a Promotions Strategy That Protects Your Bottom Line
If you're ready to optimise both your promotional tactics and customer engagement efforts, our expert team can help in crafting and implementing any of the following promotional strategies...
Retailers are constantly seeking effective ways to boost spending and build customer loyalty while preserving their profit margins. Heavy discounts can attract customers, but often erode margins and dilute brand value.
With discount activity surging in the lead up to spring, PH Digital’s expert strategists can advise on a variety of strategic promotions that encourage spending without compromising your bottom line.
Gift with Purchase: Offer a complimentary item when customers make a qualifying purchase. This approach adds value without directly discounting the main product, enhancing perceived value while protecting margins.
Spend and Save: Implement tiered discounts where customers save more as their purchase amount increases. For example, offer $10 off on purchases over $50 and $25 off on purchases over $100. This encourages higher spending and drives sales volume.
Double Points or Loyalty Rewards: Enhance your loyalty program by offering double points or extra rewards during promotional periods. This incentivizes repeat purchases and increases customer engagement without immediately impacting margins.
Free Shipping: Offer free shipping with a minimum purchase threshold. This can boost average order value and reduce cart abandonment, encouraging customers to spend more to qualify for the shipping benefit.
Exclusive Access: Provide early access to sales or special products for loyal customers or loyalty program members. This strategy strengthens customer loyalty and creates a sense of exclusivity.
By diversifying your promotional tactics, you can drive sales, enhance customer satisfaction, and protect your bottom line.
Want to know more? Talk to your strategist or email us today at hello@ph.digital.