Special offers are usually the first thing you notice when visiting a major business’ website.There’s flash sales, ongoing discounts, loyalty programs and subscription offers. It can be very overwhelming, but for a busy website that receives thousands of visitors everyday, these offerings are guaranteed to have something to interest everyone.
It’s difficult to offer every perk on Earth when you’re a small business. After all, with such tough competition out there, you have to consider your profit line. And while offering discounts might attract new customers, it could hurt your revenue in the end.
You don’t need to have a permanent sales fixture on your business’ website, but you can offer small discounts that will leave both you and customers feeling very satisfied.
Reward Customers For Spending
Create a loyalty program to reward returning customers and encourage them to continue making purchases. Loyalty programs work in different ways. Programs that return a percentage of money to the purchasers’ accounts are popular with retail and grocery stores.
Many online businesses offer a loyalty program where customers receive a perk like free shipping or first dibs on new products. Another popular program categorizes customers in tiers based on how much they spend.
While offering discounts might attract new customers, it could hurt your revenue in the end.
Sephora is a multinational company which has turned its loyalty program into a business on its own. By placing a high value on the membership, Sephora members are encouraged to spend just so they can receive exclusive gifts and discounts each year.
If your business doesn’t have the resources to create your own loyalty program, consider leveraging other well-known ones like a travel program or an external money-back program. For an indecisive customer, it may be the deciding factor between you and a competitor.
Organizing product giveaways is a great way to encourage customers to buy a product or service. Entering customers’ names in a lucky draw after they’ve purchased something can be the push they need to spend money on your business.
This is a great option for small businesses because they can get an upsurge in sales in exchange for writing off the cost of only a few products or services. Done properly, giveaways are far more cost-effective than discounts and can keep customers visiting your site and making purchases. In the case of physical products, it’s also a great way for small businesses to offload leftover stock.
Done properly, giveaways are far more cost-effective than discounts and can keep customers visiting your site and making purchases
Small businesses that aren’t ready to offer a permanent rewards program can test their consumer reach through these giveaways. Giving away different products will also give business owners an idea of what products and services their market cares more about.
Offer a Moral Perk
Moral perks will be especially popular with people looking to support the local economy and give back to society. Customers will love the idea of a small business looking to help others despite its size and smaller profit share. Seeing a direct connection between spending their money on your website and some good being done in the world will be all the excuse they need to buy your products.
The shoe company, Toms, has long remained in the public consciousness for its ongoing campaign to donate a pair of shoes each time a customer buys one.
Seeing a direct connection between spending their money on your website and some good being done in the world will be all the excuse they need to buy your products
Twice as Warm, an apparel company which donates winter clothing to people in need for each one purchased has also received lots of attention from the public, something which will likely lead to higher sales.
Consider offering a moral perk, not just to make your customer feel good about spending, but to also gain major points for charity work.
You don’t have to break into your emergency savings to provide perks to your customers. Small businesses can find inspiration from these ideas or find others that are more in line with their values.
If you don’t feel ready to offer any perks at all, don’t stress. If your product is a good one, you can be sure your devoted customers will stick around no matter what.