Everyone loves a good deal when spending their hard earned money. In these though times creating promotional marketing strategies can benefit your business by offering something different and of value to your potential customers, while keeping up with your competitors. The trick is to enhance your customer experience through your promotional strategy while increasing your profit margings as you scale your sales.
Making a bride or groom feel important and valued is vital: in a study researchers found that when people recieve coupons and discounts experience a 38% rise in oxytocin levels and were 11% happier than those who bought something without a discount. Notably, younger consumers (the ones that are getting married now) find discounts and coupons more important than other generations.
Using promotions and discounts on your business (and your Zankyou storefront)
You will attract new couples
With a promotional offer, you can tailor your website, Zankyou Storefront and other communication tools (like direct email messages) to attract engaged couples. You can add to your communications a layer of excitement and urgency while showcasing your products, services and brand. Adding discounts, gifts and promotions is a feature of our Zankyou Premium Storefront, which increases visibility in your category and region. this is specially important in the wedding industry, as professionals have to renew their customer base every year.
While promotions can be seen as a cost to your business (as it may seem that you’re descreasing your average ticket value), they can increase your number of sales and leads’ conversion (thus having less people abandon your site or Zankyou Storefront without booking your services).
Increase your Storefront and website traffic
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As you offer new promotions and discounts (and as your customers spread the word), you’ll likely bring more visitors to your site and Zankyou Storefront. Discounts are great for catching attention to your products, but it’s up to your customers’ experience to seal the deal.
Types of discounts you can use this season
This strategy is more focused on added value versus highlighting discounted prices. Offering products in bundles and kits increases the number of items you sell, while also increasing your average ticket value. It’s very helpful when you have products that range widely in price. It’s also a great cross sell solution to introducing your customers to new products.
This is a great option for profesionals in the wedding industry. For example, if the couple pays your services in full at booking, they may receive a very discounted price versus finishing their payment when the wedding ends.
Event or seasonal discount.
The greatest example of this promotion type is Black Friday and Cyber Monday. Consumers tend to look for great deals in these seasons. For example, at Zankyou we hold a Black November each year, offering great deals to couples from our Premium providers (if you wish to participate this year, you can send us an email at firstname.lastname@example.org).
Member get member / Word-of-Mouth
Brides listen to their friends quite a lot. Word-of-Mouth recommendations are very important for soon-to-be-married couples, and offering them discounts if they recommend you to their friends or add positive reviews to your online profiles can be one of the best strategies you can use to spread the word around about your business.
Ensure Profitability When You Offer Discount Pricing
You need to make sure you’re protecting your revenue (and actually increasing it) when offering a discounted price.
The first step is to determine the total cost you’ll take by offering a discount so you can be sure you’re maintaining a profitable margin. You also have to know your customer acquisition costs (or how much you spend acquiring new customers) to craft your strategy.