Types of discounts for sales season

There’s More Than One Type of Sale
Here are our 5 favorite types of discounts for sales season

Black Friday, Cyber Monday or any festive season sale is just a couple weeks away which means time is running out to finalize your holiday sales strategy.

First things first, you need to decide what kind of deal you want to offer. You can have eye-catching ads and a highly optimized landing page, but if your offer isn’t tempting, you’re not going to get the sales you’re looking for.

And we’re not just talking about the size of your discount (although that certainly plays a role in your success). We’re also talking about the type of discount.

So, what type of sale is right for you? Here are five discounts to consider for Black Friday.

Percentage discount
This is probably the most common type of discount and it’s still very effective. This is because percentages often give people the perception that they’re saving more money. For example, 50% off a $10 item sounds a lot better than “$5 off.”

There are a number of ways you can approach a percentage sale. You can simply discount all your products or services, you can offer a coupon if leads perform specific actions, or you can give a discount when customers reach a certain order value. The choice is yours.

Percentage discount
Another approach is to offer customers a discount if they purchase a second item (either two of the same or two different). This could be “buy one get one free”, “buy one get one 50% off”, or any other discount you choose.

This type of offer has a few different benefits. First, it encourages customers to increase their order size. Second, it’s great for moving unwanted inventory. And third, there’s a very high perceived value to this type of deal, as customers are potentially getting two items for the price of one.

Product and service bundles
Creating a special product or service bundle for your Black Friday sale is a great way to both provide value and increase average order value.

This is a similar concept to the “buy one get one” offer. However, with a bundle you’re essentially creating a brand new product. To encourage more sales you can make this “new” product available exclusively for your Black Friday sale.

Bundling multiple items into one allows you to offer fairly generous discounts while still keeping profits high. Plus, it encourages customers to spend more knowing they’re saving big on multiple items.

Early access sale
Want to get a head start on your Black Friday sales? Consider offering an exclusive early discount to some or all of your current customers.

Sure, Black Friday is largely about finding new customers, but that doesn’t mean you can’t monetize existing ones. Plus, by offering customers perks like this you’ll build a solid relationship with them and earn their loyalty.

Referral discount or gift
If you’re looking to increase your sales this holiday season then then offering a bonus to anyone who shares your sale with their friends is an excellent strategy.

The bonus could be in the form of additional savings on top of your Black Friday sale, or a gift such as a free product or service.

Customer referrals are some of the best marketing your business will ever receive, so the more you can encourage it the better.

What type of sale are you going to use?
Evaluate your business and Black Friday goals to determine the best type of discount to use this holiday season.

I look forward to seeing what you come up with.



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