Promotions on your eCommerce site let you make the best of your platform. They are central to business as they help you :-
- Obtain new customers and higher market share
- Incentivise existing customers to shop again
- Increase brand penetration
There are a variety of occasions when you can have an online promotion to spur seasonal demand. Some of the popular types of promotions are:
- End of season sale
- Introductory sale offer (for the launch of new products or product ranges)
- Clearance sale
- Exclusive promotions (Accessible only to a segment of your customers)
- Holiday or festive sales
People online are continuously hunting for good deals. With promotions, the idea is to push them to make a purchase. There are variety promotions you can choose to have for a product. The rules for your promotions can range from being extremely specific to complete straightforward.
A sneak peek into MartJack Promotion Engine
MartJack Omni-channel platform offers enterprise class promotion engine with a wide array of options put together based on years of research. Moreover, the engine has promotion ideas, which are widely used in offline retail world.
Here are three ways to make the best use of promotion engine:-
1)Select the best promotion idea
Cart promotions are promotions that are dependent on the item present in the cart. We have compiled a list of popular cart promotions on the MartJack promotions engine that will add spice to your sales.
|Buy X get Y free||Combination deals such as these are very enticing for customers to buyExample: Buy a Smartphone get Flipcover free|
|Above price X, shipping is free||Free shipping gives your customers a sense of security, assuring them that they would not be losing their money if they did not like the product. It was found 80% of customers would be more temped to buy from Amazon if free shipping was offered!However, if you want to optimize your margins by setting a threshold over which shipping is free, you can use this option.|
|Flash Sale or timed sales||Flash sales are offers or deals that are available only for a limited time period. This kind of promotion is great as it creates a sense of urgency to buy. Flash sales are a good way to get rid of your surplus stocks.|
|Free gifts above a price limit||Everyone loves free goodies! – There is no denying that. Giving freebies about a cart price limit makes customers feel special, as well as lets them try out your products. It can be a good way to promote a new range of products.|
|Discount percentage based on the cart value||Higher the cart value, higher the discount. This calls the customer to buy more products from your website to get a better deal. This can be the conversion point for customers who have been eyeing products on your website since a while.|
If a product has multiple promotions running, the hierarchy of promotions that will be applied to the cart can be set on the platform. The MartJack promotions engine is comprehensive and can be used with ease without the requirement of any technical skills.
2) Promote your promotions
Once you have selected the right promotions, it’s time to spread the word!
You can highlight offers on your eCommerce site by :-
- Making a landing page for the sale or promotion
- Puting up a banner on the front of the page to drive traffic to your promotions
- Enabling a filter for product promotions and discounts on your website search engine
- Mentioning the promotions that can be applied to the product on the product page
3) Track and measure the performance of promotions
It is important that you track consumer data during your promotions to observe consumer behaviour. Set benchmarks for your promotions and see that you meet your revenue targets. If you fall behind then it is time to review your promotion and marketing strategies.