Deals, of late, have become the lethal weapon of online retailers to lure customers. As shoppers find these deals to be lucrative, their decision to buy just one or what they’ve planned for gets influenced and they eventually get driven into a shopping spree. However, deals do not work out all the time. They churn out positive results only when they satisfy certain expectations of shoppers apart from being a money saving offer. A recent study made by digitalintelligenttoday.com has revealed a few insights on expectations of shoppers before going in for a deal purchase on daily deal websites.
According to the study, 34% of shoppers look out for a free shipping service. Most of the online retailers avoid offering free shipping service as it takes a toll in their profit margin and smartly limit the service only for certain brands and for purchases made above a set threshold limit.
So, chances are more likely for these ecommerce store runners to miss those who’d like to make small purchases. So, what are the alternatives which could help web stores to make sure that a free shipping concept doesn’t affect their profit?
For loyal customers, web stores can offer annual shipping package through which a onetime payment could earn customers a year-long free shipment for all the products they buy. In such cases store owners can educate customers on how much they could save a year.
Flat rate shipping is another strategy which can serve as a benefit for both customers and retailers. Instead of demanding a shipping charge for each product, retailers can provide a flat shipping rate for any number of products bought in a single purchase. By doing so, customers save paying for shipping rate for each product and retailers will have something charged instead of shipping products for free.
Most of the discounts are deceptive. While it is a business strategy form a retailer’s point of view it gets a buyer irritated almost all the time. Offering real time discounts would help in improving the satisfactory feel of your customers. Real Time discount means that there are no hidden conditions that customers would get the proposed discount on products only if their purchases are above a certain threshold purchase amount. Instead, offering the proposed discount for any single purchase would please the customer a great deal and encourage them to go for more.
Daily deals and flash deals
Flash deals are catchy and tend to grab the attention of customers quite easily. A buy one get one free offer, cash back or reward points offer are the most influential flash deals that’ll bring bigger benefits. For instance, if a flash deal of ‘Get a reward of $10 for a purchase above $150’ is sure to engage a shopper as they could get a reward of $10 either as cash or reward points which can be used for another purchase in the future. In this case both the buyer and seller end up in a win-win situation. The chance of upselling goes high and you also earn a return visitor in no time.
Discounts on items browsed in the past
It wouldn’t be exaggerating to say that ecommerce success is now limited to the extent of personalization. Personalization has become the key in improving conversion rates. Most of the shoppers prefer personalization as it reduces their time and effort in finding what they want from a millions of options available. Have a track of your loyal customers’ purchases and previous browsing patterns and offer them discounts based on it. By doing so, the discounts will act as an added encouragement for the customer to buy the product they have interest in.
Another great idea would be organizing a remarketing campaign. Remarketing is a way of connecting to people who have visited your ecommerce website or mobile phone app and left it without buying anything. Once you initiate a remarketing ad campaign, those who have abandoned your website will receive ads of yours as they browse the web or use other mobile applications. Dynamic remarketing is an advanced level of remarketing which helps in projecting the details of the particular product or service which people have viewed on your website, within the ads.
Loyalty offers or club rewards
Loyalty programs are the one of the best ways to retain your return visitors or loyal customers. In general loyal customers purchase a lot more than new customers. Moreover, your loyal customers keep coming back without demanding your efforts, while driving in new customers demands a lot out of your wallet.
Your loyalty campaign should be designed in such a way that the rewards you provide are useful to the customers. Another important factor to be kept in mind is that none of your loyalty programs should have complicated terms and hidden conditions rather they must be clear, straight and simple. Unredeemed rewards results in waste of time, effort and money for the online business owners and the customers get no benefit in return for their loyalty.
For instance, online stores can tailor a sequential reward program through which customers will be given a small reward for their initial participation or purchases made. Based on the frequency and regularity in purchasing, the same person can be rewarded with better benefits. This type of rewarding campaign will help customers to keep in track of their points and reduce chances of leaving them unredeemed.