Instead of a generic '20% off' coupon, framing a promotion as pre-existing store credit (e.g., 'You have $21.63 in credit expiring soon') is more effective. This psychological trick makes customers feel they are losing something they already own, creating a powerful motivation to buy.
Instead of offering direct discounts, which can devalue products, consider a double or triple loyalty point event. This strategy incentivizes customers to spend more to earn future rewards, effectively driving sales while encouraging repeat visits and fostering long-term loyalty. It costs little while giving customers a strong incentive.
Instead of offering a fake, expiring discount to create urgency, frame it as a payment for predictability. Tell the prospect you will pay them a discount in exchange for mutually aligning on a specific close date, which helps you forecast accurately. This turns a sales tactic into a valuable business exchange.
Constantly discounting your main product trains customers to wait for sales and devalues your brand. Instead, splinter off a small component of your core offer and discount that piece heavily. This acquires customers and builds trust without cannibalizing the perceived value of your full-priced core offer.
When a customer just misses a new promotion, don't enforce the cutoff date rigidly. Giving them the promotional item costs little but generates immense goodwill, turning a potential complaint into a story of exceptional customer service and creating a loyal advocate.
Move beyond generic discounts by framing offers around the customer's immediate, often unspoken, intent. For example, a "last minute hero finder" speaks directly to the urgency of holiday shopping, while a "donation impact calculator" targets the specific motivations of year-end charitable giving, making the offer more compelling.
Instead of offering a standard discount to all abandoning shoppers, AI analyzes individual behavior to determine the precise, minimum percentage off needed to secure the conversion. This maximizes sales while preventing unnecessary margin erosion.
Discounted offers make sales teams feel that prospects are "ready to spend," overcoming their limiting beliefs about selling. This increased conviction is a key mental benefit, even if upsell conversion rates are the same as with free leads. It makes the team more invested in the sales process.
The way a price is presented alters a consumer's emotional response, even if the total cost is identical. Breaking a large sum into smaller installments, like Klarna does, makes it feel more manageable and less intimidating, thus boosting sales.
The perceived value of a discount changes based on its presentation. Test framing it as a percentage off, an absolute amount off, a relative equivalent (e.g., "save a steak dinner"), or simply the final discounted price to see which one drives the most action from your target audience.
Justify "too good to be true" discounts by tying them to real-life events, both positive (birthdays, holidays) and negative (unexpected bills, damaged goods). This authenticity makes the offer more believable and compelling to customers, increasing conversion.