[48] 5 Alternatives To Discounting That Bring In SALE$$$ – Email Growth Society

[48] 5 Alternatives To Discounting That Bring In SALE$$$

CWEG 48 | Alternatives To Discounting

 

Whether you are a tiny company or a huge brand, there are a ton of ways to make email marketing work well and drive sales without having to discount. While it's true that offering sales and discounts can provide a temporary lift in revenue, it's ultimately not a sustainable strategy and will only provide you with short-term success. Amy Mangueira offers a better solution for this. Amy shares the biggest caution when thinking about constantly discounting: recipient conditioning and devaluing the brand. Learn more as Amy tackles five great "non-discounting" tactics you can try today.

 

Have questions? Send them to conversations@emailgrowthsociety.com

 

Need Email Training?

If you’re a small business or start-up in the Go-to-Market stage, likely you are trying to get your top-of-the-funnel activities underway and may just have email on the backburner. Good news. I’ve created a 5-week Email Essentials Bootcamp course so that you can build solid foundations and understand how to run best-in-class campaigns to help your email channel thrive as your business grows. Here's your link to enroll now

---

Listen to the podcast here:

5 Alternatives To Discounting That Bring In SALE$$$

If you are a small business or a startup in the go-to-market stage, likely you are trying to get your top-of-funnel activities underway and may have email on the back burner. Good news, though. I have created a 5-week Email Essentials Bootcamp Course so that you can build solid foundations and understand how to run best-in-class campaigns to help your email channel thrive as your business grows.

I wanted to focus on a topic that some of you out there, whether you are a tiny company or a huge brand, can't quite grasp the idea that there is a ton of ways to make email marketing work well and drive sales without having to discount. While it is true that offering sales and discounts can provide a temporary lift in revenue, it is ultimately not a sustainable strategy and will only provide you with short-term success.

A better solution is needed. The biggest caution when thinking about constantly discounting recipient conditioning and devaluing the brand. Instead of being known for quality products or outstanding service, your customers and leads associate your company with the lowest price. You become the eCommerce version of Dollar General attracting those searching for bargains.

CWEG 48 | Alternatives To Discounting

When a customer receives a discount on their first purchase, you can be pretty confident that they are going to try to get the same discount with every subsequent purchase. This is something, A) You don't even want to get in the habit of, and B) If you are in this habit, it is really hard to get out, so you have got to start reconditioning your audience, and that is hard.

Free Gifts With Purchase

Let's start the right way. I could list more than five of these. I do have another episode where I have some additional ideas, but for the sake of you trying out way too many things, let's stick to five. The first one is free gifts with purchase. This is my favorite tactic, especially as it relates to new customer acquisition. Offering a free gift with purchase can be a powerful incentive, giving customers the nudge that they need to buy. If the gift is a sample of one of your other products, it gives customers yet another reason to buy from you in the future.

Sephora does a great example of this. They often include product samples for free with all their orders, so as Vital Proteins. What a total no-brainer for the first time and repeat customers. This takes a little planning, though, so why not give this one a try this year? Instead of offering your discount code, get X, Y, and Z with your purchase. It is such a good idea.

You are working hard to give your brand the reputation it deserves. Do not undervalue it by constantly discounting.

Free Shipping

The next one is to remember free shipping. It is a total winner. eCommerce conversion rates are always higher when free shipping is included. It is no surprise. There is a reason it is the cornerstone of the Amazon Prime program. If you want to see your eCommerce sales increase, give free shipping to customers and use it as a needle mover when you need to ramp up revenue for the month. This one plays on the consumer's psychology of getting something free and fast. Who knows, but it works.

Out Of Stock Flows And Email Touchpoints

Another one is out-of-stock flows and email touchpoints. If you are running out of stock, it is one of those problems that you will never get rid of at an eRetailer. Depending on the size of your eCommerce business, it can even cause huge profit losses. Imagine this. You visit an eCommerce store and find a product you like, but when you visit the product page, it says out-of-stock. What do you do?

You click on the next tab of your browser and find a competing store that has your desired product in stock. The worst part, most stores leave it that way. Here is the truth. As soon as a product stock volume goes to zero, you have a massive opportunity to collect new email addresses from people who potentially want to spend money in your store.

CWEG 48 | Alternatives To Discounting

 

When a product is out of stock, you are left with two options. A) You can let your visitors stare at a text that says out of stock and let them leave for a competitor or B) You can let your visitors see that your product is out of stock and display a form where they can sign up to receive a notification when the product is back in stock.

This is a huge opportunity for you to pause the buying patterns and have that customer stay loyal to you waiting for that email when the product is back in stock. This is by far one of the most low-hanging fruit for any eCommerce store and can help you win back a lot of business almost immediately, so set up triggered emails that can get ahead of the common occurrence.

Instead of sending out five more email campaigns with discount codes that don't even talk about this particular product that they can't even get, why not leverage an out-of-stock flow to have your users notified when the item comes back, offering them something comparable in the meantime and alert them when you have more? It is a brilliant, huge opportunity to take advantage of. If I were going to say something you should put your effort towards versus a million campaigns with discount codes, out-of-stock flows is a huge one.

While it's true that offering sales and discounts can provide a temporary lift in revenue, it's ultimately not a sustainable strategy and will only provide you with short-term success.

Loyalty Programs

We have got touting our loyalty program as another really big win, especially for customers. This allows you to reward customers who are particularly faithful to your brand already. Whether through special discounts on high-demand items or exclusive access to particular products, loyalty programs keep customers coming back again and again.

Keenly aware of this reality. Amazon offers all sorts of perks to Prime members all throughout the year, and you can, too. Best of all, you don't have to have a formal loyalty program set up. You can set up a few segments in your database that pull your customers into a few loyalty tiers like platinum gold and silver based off their past purchase history and send them specials and perks. These can be things like BOGOs special points or gifts. It is the easy one to drum up sales.

Leveraging Guarantees

Lastly, one more thing you should try. How about leveraging guarantee language, especially for leads we to convert into customers. All we want to do is reduce the risk for leads to give our brand a try. We can then work our customer success magic to keep them coming back for more. In that case, having language and emails like a money-back guarantee or service guarantee is a subliminal message saying, "I can try this, no strings attached." Likely, they are not going to take you up on the return, but it is a way to have the email gracefully sell a bit more urgency in place of adding a discount code.

If you craft a great product to email, that maybe has a little bit of education to the product and you have a big call out that is highlighting guarantee language. This is another way for a lead to be like, "There are not a lot of risks here for me. I'm going to go ahead and give it a try." You are always going to be faced with dealing with the status quo with leads. Should they buy it now? Could they wait? By adding things like this, you can move the needle a little bit more for them.

There you have it, five new non-discounting strategies to drive your email sales. Give them a try. You are working hard to give your brand the reputation it deserves. Let's not undervalue it by constantly discounting. If you have thoughts, questions, or comments, send them my way to Conversations@EmailGrowthSociety.com. Until next time, happy emailing, everyone.

Important Links: