4 Effective Discount Strategies to Boost Sales
Discounts are often a mainstay strategy for many business people to boost sales. However, not all businesses like discount strategies for several reasons.
Before actually implementing a discount strategy, you need to plan carefully so that you don’t experience losses. Some steps that can be taken are:
- Identify profit margins and price markup that make sense
- Find a discount model that is still profitable
- Learn how your competitors are implementing their discount or promotional strategies
- Think of alternative ways to increase sales without applying a discount
After you have done the steps above, then you can try applying a discount to increase sales. Here are 4 strategies that are effective enough to increase sales:
1. Discounts for subscribers
Subscribers are those who are willing to register their email to receive messages from your brand. If email marketing is done right, you can generate higher conversions than any other marketing strategy.
As soon as someone registers their email on your website, immediately send out a welcome email. If you previously promised a discount or promo code, you must also include this in the email.
Remember that those who register their e-mails on your website are people who have an interest in what you have to offer, so don’t give a bad first impression.
2. Discount on Installing Applications
Does your business currently have a mobile app that your customers can download? If so, try to make an attractive offer for consumers who are willing to install your application for the first time.
These offers are usually in the form of discounts or free products for the first time purchase through your mobile app. This method has been proven effective and is even applied by big brands like McDonald’s, Gojek, and many more.
Mobile apps have tremendous potential. According to Magnus Ekbom – Lazada Group’s Chief Strategy Officer, around 80% of smartphone users in Indonesia have 10 to 15 mobile apps, and around 10% have more than 40 mobile apps.
Besides that, almost everyone installs online shopping applications on their cell phones, and 50% of the install 3 to 5 applications at once.
3. Influencer discount
You can work with influencers on social media that fit your business industry. This method is usually done by providing a special promo code to the influencer, which will then be disseminated on his channel. The promo code can later be used by the influencer’s audience.
As a token of appreciation for this collaboration, you usually need to provide a certain amount of money or a product according to the agreement between you and the influencer.
You need to know that something that is said by an influencer is more trusted by their audience than what is said directly by a brand. This is why this strategy is quite effective at increasing your sales.
4. Retargeting discounts
Many people knowingly or unconsciously leave their products in shopping carts when shopping online. In other words, the consumer has certain reasons for canceling the purchase.
In such cases, retargeting is a very effective way to get customers back to seeing shopping carts left on your website. Retargeting can provide an impetus for completing purchases.
With additional discounts when retargeting, your consumers will be more motivated to complete purchases because the products they target have been discounted.
This is a discussion of 4 effective discount strategies to boost sales. For your business to grow, don’t forget to advertise through the Froggy Ads service, you can start by advertising your products so that later you can increase visitors on your online business portal. Froggy Ads is an online advertising service that can help you control all your product campaigns. helps you target your desired marketing target and gives you many options to market your product.