The amount and variety of special offers is huge in e-shops. So how to use them wisely, so as to gain a maximum sales revenue? I present you the 6 most common mistakes, made during managing special offers in e-shops:
1. Overusing the words ‘special offer’ – we can easily create many kinds of special offers in e-shops (discounts, basket promotions, quantitive promotions and so on). It often happens that while browsing through the shop’s offer, we see that most of the products have special offers. In this case the client stops paying attention to the special offer, because it’s no longer special.
2. Time unlimited special offers – one of the aim of using a special offer is speeding up client’s purchase decision. If a person, who is interested in purchasing, sees that special offers are long-lasting in a given shop, such special offers don’t mobilize clients to make decisions faster.
3. Bundles – if you always offer bundles at lower prices, enable the client to buy each product seperately, but at a higher price.
Very important: emphasize the fact of saving money when the client buys a bundle. The client who has no possibility of buying a product seperately, won’t appreciate saving money when buying the bundle.
4. Too big choice causes that clients hold off their purchase decisions – we want the client to make the purchase decision quickly. Don’t offer to the client 10 bundles, but up to 3 ( one of them must be definitely the most payable). You have then a bigger chance that the client will complete the transaction.
5.We don’t put together (in bundles) products considered as expensive with products perceived as cheap. Such a combination of goods causes that the client perceives the bundle as cheaper (less worthy) so as he’s less willing to spend money. For example: we don’t offer (in a bundle) a bag for $20 to laptop for $2000, we choose an exclusive and more expensive version e.g. $125.
6. Extra product -it’s not so true, as it seems– increasing the price of main product and adding extra product of a low quality. This practise irritates clients very often. Extra product is usually of little value, the product price matters. However if two sellers have similar price of a product, such an extra product may turn out to be a deciding factor.
CEO at Price-expert.net. Has many years of experience in managing IT projects and automating the price management process in e-commerce.