Everyone loves to get a deal. It’s a fact of life. But what’s the best way to capitalise on this, as a marketer? Offers can be a double edged sword for any business, with an increase in sales or traffic but a lowering in individual revenue; it’s critical to find a balance to keep your company profitable.

There are a few different key ways to capitalise on this aspect of human nature, with their own pros and cons. Firstly is the one seen most often; discounted prices for a certain timeframe. Now this can be a given holiday, such as Christmas or Black Friday sales , or simply ‘next two weeks’, but the result is the same. These offers are best suited to physical stores rather than online, as the aim is to get people into the store. Once they are in, they’re more likely to purchase ‘accessory products’, which is where the main earnings come with offers. If you go to a store to buy a half price jumper, and you see a nice scarf, you are more likely to buy both as you have already saved money. These offers can also be a great way to get rid of excess stock, such as leftover seasonal stock such as summer shorts in autumn.

Another way to capitalise on exclusivity is through offers and coupons, as loyalty rewards or in other media such as newspaper offers. These have to be carefully planned, as though it does increase traffic, they also run a risk of losing money. For example, say you are selling a scarf for £10, and your total costs are £5 for the item (store space, manufacturing, shipping etc.) then you can potentially run a 50% off or buy-one-get-one-free offer, without losing money. But what about when the customer has another 10% off as a part of another offer, or with uniformed services discount or similar, then you will operate at a loss. In the UK at least, most companies get around this by including an adage to the coupon such as ‘cannot be used in conjunction with any other offer’. This is not the place in places such as America, where coupon use is much more prevalent.

Having an offer which is exclusive to a certain group of people adds urgency to the offer, meaning people are much more likely to shop there. People love to feel special, and individual tailored offers are a great way to use this mentality to increase sales.

Price matching is a relatively recent addition to the offer repertoire, with certain companies claiming to sell a certain item cheaper than anywhere else, or they’ll match the price. Now obviously this can go extremely wrong in certain cases, but a small loss can sometimes mean a large gain. For instance, if a company is selling a TV with price matching on Amazon, then there is nothing to stop someone creating an Amazon account and selling one of that TV for a lower price, and cheating the system by getting the TVs at a lower price. This can cost companies alot of money, but fortunately there are a few ways around this. Many companies manufacture certain models exclusively for a certain store, meaning the model number does not match between companies. The customer may feel cheated if this happens, but at least you do not lose money, and the person is still in the store. The other way around this can create a small loss; pricing lower than the competition, but only getting a few models in. It’s easy to understand that an amazing offer like this has sold out, and in the end the customer is still shopping in your store. Exclusivity is the key to event marketing, and can increase sales year round if used correctly.

Are you ready to be in full control of your business?

Now you’re there wondering whether quitting your day job and toeing the line to try a whole new world was the best step you’ve ever made.

It was scary making that decision, but you feel more apprehensive today because the future is turning out to be more and more uncertain.

Let’s talk.

How’s that business going? Oh, not really as well as you’d imagined it would? Pressured to attract more clients?

Let’s see.

Just a friendly suggestion – why not get help marketing your business?

It’s easy to say getting help from marketing consultants isn’t, business-wise, the best way to go. There’s the financial aspect of hiring another hand to help out, and this doesn’t always go over favorably, especially if you already have a team in place.

However, instead of looking at it as another financial drain, why not consider it as an investment? You know that each penny counts only when it’s invested in the business – and yes, invested in yourself. That’s pretty fair, isn’t it?

When you start putting in money, time and effort, that’s the time you say to yourself you’re giving this business a chance – a chance for it to grow. And so that’s what you ought to be doing, right?

Taking the time to read up on the latest online trends and strategies is part of what you must do as a marketer. So it only makes sense that you also use what you’ve learned and put it into action. The only way for you to see if they’ll work for your business is by applying them. You have that power to create that change.

But you may be thinking They say I can do it without the additional financial pressure. Perhaps you’re right, but perhaps not. If you decide to do it on your own, without the knowledge needed to apply the strategies properly and efficiently, then you might end up wasting both time and money. And of course, don’t forget that as you spend time trying to figure out what can be done, you might also miss out on other opportunities.

Opportunities such as what? Well, taking action means meeting clients and growing your business. Those are the things that are meant for you to do – and do quickly!

Let the experts do the business of figuring it out. They are there for that reason – to clear up the messy side of businesses and straighten things out. They do the thinking, while you’re busy running the show under their wise direction.

Ready for a chat? Get in touch with a consultant. A call to a marketing consulting firm might just be the trigger you’ve been waiting for.