So you decide that you need an offer but you can’t decide what to run, now what?

It’s easy to get caught between a variety of offers and simply just go with what you know will work without properly understanding just how effective the results will be for you and the business!

We’ve worked with numerous clients who have struggled to scale results while maintaining a strong profit margin to match the results.

We get it... There’s so much to consider!

That’s why we wanted to break down some of our experiences and make sure you’re considering all aspects of your offer and not necessarily going in blind without giving yourself the best chance to generate the incredible results we’ve seen time and time again.

Okay, so where to start?

Let’s start with why we are offering the discount in the first place…

With the help of an offer, we see that the CPA (Cost Per Acquisition) is reduced as the offer is often eye-catching when implemented in headlines and creatives as CTR (Click-Through-Rate) improves, as well as purchase intent, reflected in the conversion rate. As a result, you’re getting more sales for the same amount of spend as you’re influencing purchase habits.

Maybe you want an offer to become more competitive, it’s a public holiday or you simply need to flush out old stock and improve cash flow. 

Whatever the motivation, you need to establish your goals before you decide the best way to achieve that goal. For each of these goals, you can tailor your offer to better boost your performance without severely impacting your profitability.

So we’re going to break down the most common offers that people run and the best situations to use them in… 

Percentage Discount

Benefits:

Issues:

Money Off Total Orders

Benefits:

Issues:

Buy One Get One Free Or 2 For 1

Benefits:

Issues:

Giveaways, Gift Cards & Prizes

Benefits:

Issues:

So they’re the most common offers around, and while they’re not the only offers available, they’re often the types that generate the greatest change in ad performance.

But sometimes you’re not looking to offer a discount or obvious offer… 

Maybe you’re just looking for some consistency.

One of the most simple thing you can offer is FREE SHIPPING.

With the likes of Amazon being a competitor to almost every e-commerce site in existence, you’re constantly faced with the notion that free shipping is expected from your audience… and from what we’ve seen, we can’t argue with that! 

We see that by simply offering free shipping helps with consistent purchases and reduces the drop off rate for when people get to the checkout stage of the customer journey. 

Reducing the number of objections consumers have after they have added to basket will undoubtedly increase the overall conversion rate and lead to more consistent purchasing habits from your audience.

Okay, so you’ve decided on your offer, now what?

There are a few key things still to consider:

How long to run the offer for - If a discount is running for too long, it can potentially change the perception of the brand and make it seem like a ‘discount brand’. Too short and you may not make the most of people’s purchase habits, however, short offers can often have higher discounts and drive higher urgency within a consumer.

Aligning the offer with an event - For example Black Friday, most companies are pushing sales that are at the greatest discount they will offer all year, however, you need to differentiate your offers depending on the event or reason you’re pushing a sale. People often purchase through associations and certain events can increase the appeal of your product, like Valentine’s Day for example. With so many daily holidays, it is imperative that you find the right public holidays that reflect your brand’s personality and ethos.

Testing - Initially, you need to go through different levels of testing and discover which style of offer works best for your brand. It’s not always the huge discounts which lead to the best results, but you need to find what works best within your audience and utilise what you have at your disposal.

Timing - Carefully timed launches can increase purchase intent during times that customer’s purchase habits are already high, using paydays, holidays or national events to choose your timing wisely to scale your results even further.

Well there you have it...

Creating and implementing offers sporadically throughout the year with real purpose and intent is never easy. If you are still unsure of what to try next, how to improve your results or where to turn after reading this article then you may be interested in undergoing a complete marketing audit where we can break down what you’ve done well, where you’re struggling and how to utilise offers to change your audiences purchasing behaviour. 

Our in-house experts will dive deep into your current marketing campaigns and business strategy to identify exactly where you are leaving sales on the table and help scale your business to new heights.

Find out more about our onboarding process and how you can apply for our account audit and we’ll have you fully utilising offers to scale your business in no time!