The Power of Special Offers
If you’re looking to increase your turnover, revenue and profits, then one of the very best things you can do is to run a special offer.
This can help you to sell more products or get more business for your service. Read on and we’ll take a look at why special offers are such a valuable tool.
How to Use a Special Offer
For a special offer to be effective it needs to significantly lower the value of your item while at the same time not going ‘too far’ in that direction.
The potential problem with special offers, is that they can make your product so cheap that people then wonder why they were ever willing to pay the higher price! Make sure your price point is desirable, but not too cheap!
Another important factor with special offers is that they should be temporary in nature. Add a time limit and this will make it all the more effective. The reason is that a timed special offer gives someone incentive to act right away rather than waiting to see if they still want to buy your product later. This is a key to success when it comes to sales because the vast majority of purchases we make are emotional rather than logical. By encouraging an impulsive buy you can encourage buyers to act on their emotion.
Finally, to get even more out of your special offer, consider messaging previous customers and clients to tell them about it. In fact, you can even make this an exclusive offer for them, in which case they’ll be even more likely to act on it. The great thing about previous customers is that you know they have some interest in what you sell – this way you’ve just given them more incentive to come back.
Why Special Offers Are So Effective
From the above, it’s easy to see why special offers might be highly effective. The addition of a timed incentive is enough to trigger more sales and at the same time, your customers will be able to get better value for their money.
What’s really smart about special offers though, is that you don’t diminish your value by reducing the standard price. People will still think that your product must be valuable because they’ll be able to see how much it used to be.
Finally, providing someone with an exclusive deal is a great way to encourage good will toward your brand – making this a true win/win situation.