A tried-and-true method for generating sales, whether online or in a brick-and-mortar storefront, is to draw consumers using enticing offers and deals. However traditional sales may seem, there is no question that they still incentivize shoppers to buy. According to a recent study, consumers who use coupons spend 37% more than consumers who don’t.
What is it about offers, deals, discounts, and sales that attract customers? For one, they create a buzz. Holidays and seasonal sales are the best examples of this. During Christmas, Halloween, Black Friday and Cyber Monday, businesses all over the U.S. offer the best deals, driving sales year over year. Add to this the sense of urgency that time-sensitive deals create and it’s easy to see why shoppers will wait in line hours to take advantage.
The other crucial factor that makes a sale a success is that it must create an obvious sense of value for the customer. If there is no value proposition, the consumer won’t feel compelled to purchase. Of course, you also need to learn what channels are best for your business. If you’re primarily online, then taking advantage of mobile marketing and other online sales tactics—like newsletter subscription discounts or social media exclusives—is key.
To learn more about how you can leverage sales and offers for your business, check out the Wikibuy infographic below.