5 Benefits Of Offering Regular Discounts To Your Customers
Offering a sales discount to customers is a surefire way to keep them interested in both your brand, and your goods and services, and is something that takes place across virtually every industry, but especially throughout ecommerce and retail.
The term ‘discount’ is generally applied to any price reduction put in place by a seller, and price stickers are usually used to indicate that something now costs less than it originally did. From clearance and seasonal sales, to flash sales, campaigns promoting prices must be advertised well and clearly visible in-store if they’re to have the desired effect on consumers.
As a means of generating additional revenue and demand, sales discounts can be incredibly effective, and here are 5 ways in which offering regular discounts to your customers could boost your brand, and your bottom line:
1. Drive short-term sales quickly
If business has been a little slow of late, and you’re seeking to try and drum up some trade, offering a sales discount is a great way to achieve that. Whether you want to encourage customers who already like your brand, to like it even more, or whether you want to attract a whole new audience, creating a seasonal or flash sale is sure to get people talking, and credit cards smoking!
Do note however, that if you offer your customers long-standing discounts, they will likely come to expect those prices from your shop or brand, all of the time, and putting the prices back up again could lose you valuable trade.
2. Help you get rid of outdated inventory
If you’re not able to move your existing items at their current price, and need to update your inventory in order to offer customers something fresh and new, a discount sale can be a fantastically effective way of shifting older items to make way for the new.
3. Boost demand for a new product
A great way to promote a brand or particular business, sales discounts have the ability to generate a lot of interest. If you feel as if you need to get heads turning and drive demand for your goods or services, try offering a promotional discount for a limited time and watch as customers start queueing up at the door!
4. Attract new customers
As mentioned above, promotional sales can generate a lot of interest in your brand or your shop, and when done right, you could find yourself appealing to a whole new genre of customers eager to spend their money on your goods and services. For instance, some consumers only shop when there are sales on, but their money is as valuable to you as someone who is able to buy from you at full price, and by attracting them, you could win their loyalty and turn them into full-price paying customers, too.
5. Enhance your reputation
Carefully planned sales with eye-catching use of discount stickers can be designed to target specific demographics, and help you entice a whole new type of customer into buying from you, and recommending your business to friends and family.
While your financial circumstances may well dictate how often you’re able to offer sales discounts to your customers, there can be little denying as to how effective sales can be for boosting sales and generating interest in a brand or business.
