4 Kinds of Discount Strategies to Increase Your Sales
Discount sales strategy is one of the most widely used strategies everywhere, both in conventional stores such as malls, and in online stores. Discount or discount is a direct reduction in price for a particular product, so that it can increase people’s buying interest, and ultimately influence purchasing decisions.
Discount strategy is indeed quite effective to implement, because it can give suggestions to consumers that the price of the product seems cheaper. However, there are not a few discount strategies where prices have already been marked up. Although there are already many consumers aware of this, the fact is that this method is still quite effective.
In addition to the above methods, here are some sales strategies through discounts that are no less effective and can increase your profits.
1. Price Psychology
You may often find sellers in malls that charge $ 99,998 or $ 17,999. You might wonder why the seller didn’t just round up the numbers? The answer has to do with price psychology or price charm.
When you see $ 99,998, you most likely still believe that the price is still cheaper than $ 100,000, right? Likewise, if you realize that the numbers were just a price game, you might still feel disturbed, and this may influence the purchase decision.
2. Specified Time or Limited Time
You can apply this model discount at a certain time or in a limited time. For example, a “50% discount on all items in every purchase at 12.00-14.00”, or it could be on certain days such as Friday Sale, so every Friday you will give a discount. However, you also should not give a discount just like that, additional special conditions for example by purchasing $ 200.
Likewise, the limited-time discount model, you can give a discount only for a certain duration or until the item is out of stock. This sales strategy is also known as Flash Sale, which requires consumers to scramble to get certain items before the stock runs out. In this way, your customers will be encouraged to buy immediately, because, in addition to discounts, they will feel lost if they run out of goods earlier.
3. Provision of Cashback
The concept of cashback is the same as a discount, the difference is, the discount is given a discounted price directly in the form of a percentage, while cashback can be in the form of money or electronic money balances. For example “Get a 5% cashback of a maximum of $ 200,000 for every purchase of electronic products”.
If you see the example above, if your consumer spends less than $ 4 million, then the nominal cashback that will be obtained is not $ 200,000, but 5% of the price of the goods purchased. For example, if the price of the purchased item turns out to be $ 2 million, then the cashback that will be obtained is only $ 100,000.
4. Free Gift
Who is not happy if someone buys an item such as a smartphone and then gets an additional gift? Whether it’s soft cases, tempered glass, earphones, or others. Gifts can be an attraction for consumers to shop at your store.
This gift can be applied to products that are less in demand in the market. The prize does not need to be expensive, enough with goods that are piling up, and of course, it is still related to the main item purchased by consumers.
You need to understand that, the price after the discount must still provide benefits for you. Remember, a marketing strategy through a discount does not mean selling at a low price and harming you, but rather toward giving suggestions to consumers that your product is being sold at a cheaper price that is cheaper than usual.
Thus the discussion of 4 types of sales strategies through effective discounts to increase your profits. Don’t forget to advertise through the Froggy Ads service, you can start by advertising your product, 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 the marketing target you want and gives you many choices for marketing your product.