The Festive season is the best part of the year for any business to gain more profit.Customers look for attractive deals and offers during festive time and this increases the opportunities for businesses to increase sales and build brand loyalty.
Let’s discuss the 5 powerful offers that can be used to drive more conversions during the festive season.
1. Discount and Price Cuts
Strategy:
Discounts are the most famous offers that can be given during a festive season.People love to buy their favorite products that they have been eyeing for a while or kept in a cart for a price lower than the usual price.
A discount of 10-50% can convert a potential customer.
Discounts can be given for different product categories or for a particular customer segment.
Special discounts can be given to regular customers or customers who have a high AOV.
The High Margin products can be given for a higher discount or a bundle of small margin products can be combined with a best seller just to move ant stagnant inventory.
Examples:
- Festive specials: Get 30% off on all products during our diwali sale!
- Category Discounts: Get 20% discount on ethnic wear for men ,women and kids this Diwali
- Tiered discounts: Purchase for Rs.3000 and get 20% off
Tips: The offers should be simple and clear so that the customers do not get confused.Also highlight the original price Vs the discount given to attract your customers.
2. Buy one Get one offers (BOGO)
Strategy:
The buy one get one get one offer is a good way to increase the spend of the customers.It could be offered for products that customers buy as multiples such as cosmetics or clothing.
The buy one get one or buy 1 get 50% off is the offer that helps to move inventory and create a sense of satisfaction and value to the customers.
Examples:
- Straight BOGO: Buy one Shirt, Get another FREE!
- Bogo 50% : Buy one,Get another for 50% off (Applicable only for skin care products)
- BOGO on bundles: Buy one Gift Box, Get another for 30% off
Tips:
The BOGO offer could be applied for stagnant inventory or complementary products.Also highlight this offer on the homepage of your website to attract potential customers.
3. Free Gifts and samples
Strategy:
People love to get free gifts.Offering free gifts and samples of other products can increase the AOV of a customer and be an opportunity to introduce a new product to the customers.
Free gifts that are given for only the first 100 customers or limited -edition can further lure customers towards buying.
Examples:
- Freebies on Purchase: Get a free Coffee mug for purchase above Rs.699
- Tiered Gifts: Buy items for Rs 3000 and get a premium GYM BAG Free!
- Sample Add-ons: Buy Beauty products of X brand and get free samples of Y brand absolutely free.
Tips:
Make sure the freebies are aligned with the products they buy or are a usual product that adds value.
4. Flash sales and Limited time offers
Strategy:
Flash sales and Limited time offers can work well during festive seasons.These offers create a sense of urgency so that the customer makes quick decisions.The intent of the people to buy is high during festive seasons but they will be looking for good deals that are profitable for them.
Flash sales can also be used to give exclusive discounts for loyal customers to value them.
A well planned flash sale or limited time offers can drive more customers and get more profit for a brand.
Examples:
- Hourly deals: 24 hours flash sales,new items added every hour.
- Day Specific offers: Black Friday -Get 40% off on all products.
- Count Down timer:Use countdown timer on your website to create urgency or Use only 5 slots left or offer valid for the next 20 customers to push the customers to make a quick decision.
Tips:
The flash sale could be promoted well in advance on social media or through E-mail marketing so that people can be well aware of it.Also use words like “Don’t miss out”, “Last chance”,”Hurry -Limited Stock” can help attract more customers.
5. Loyalty Rewards and Referral Programs:
Strategy:
With an intent to make customers repeat customers and to retain them ,loyalty rewards,bonus points and referral bonus and gift vouchers can be given.
Examples:
- Double bonus points: Earn double points for all purchases during Diwali Sale.
- Referral Bonus : Refer a friend and both of you get 10% off in your next purchase
- Festive Rewards: Spend Rs.3000 during Diwali sale and gain rewards points in December.
Tips:
Make the rewards and referral program easy to understand and redeem by your customers.
Highlight the long term benefits that the bonus points give during future purchases so that your customers engage with your brand beyond festive seasons.
Other strategies
- Cross Channel Promotion: Promoting your offers on different social media channels like Email,Social media and Whatsapp and Sms can give your brand more visibility across each platform which has a specific audience segment.
- Clear CTAs: Set clear CTAs to create urgency and make the customer take action.CTAs like Shop now, Limited Offer ,Offer ends soon can help get more purchases.
- Responsive landing page: With many customers purchasing on mobile phones, Make your landing page responsive so that it gives a better checkout experience for mobile users.
- Emphasize on festive spirits: Your creatives should be aligned with the festival and create a festive vibe so that people can relate to your offers and feel more connected towards your brand during the festive season.
Conclusion:
The festive season is the ideal season to target more people and boost sales, clear inventory and create brand loyalty among the customers.Offers like Flash sale,Discounts,BOGO, referral programs can get you more customers and increase your sales and revenue during the festive seasons.
Your offers should be visually appealing and create a sense of urgency so people develop a fear of missing out (FOMO) and make quick decisions.
Each offer has a unique value and strength to drive traffic so it is necessary to choose the ones that work best with your brand and create a valuable and memorable experience for your customers.
