How to Use Special Offers and Bonuses to Boost Your Business

In 2022, the eCommerce arena is incredibly competitive. As more people choose to shop on the internet, a growing number of businesses are following them online. With statistics suggesting that 21.8 percent of all global retail sales will take place on the world wide web within the next two years, competition is only becoming fiercer.

That’s why successful businesses are finding ways to stand out. Amid the cacophony of this online world, many new and emerging brands are managing to make a name for themselves, and one method they’re utilizing is special offers and bonuses.

In this article, we look at how to use these to your advantage.

Undercut the competition

The attraction of special offers and bonuses is that customers can make a saving. Even though they’re still spending money, they nonetheless feel like they could have been spending more. It’s this that compels them to take advantage.

However, this only remains attractive if it allows consumers to spend less with you than with your competitors, so keep an eye on any other bonuses or offers out there. There’s little point in offering 10 percent off your product if your nearest rival is enticing shoppers with a 20 percent discount.  

While you need to make a profit, slash your prices by as much as you feasibly can, if only so you can build an initial customer base. It’s especially effective to target offers at first-time buyers, so you can entice them to try your product with minimal monetary risk.

After they’ve used it once, they may well be willing to pay full price to take advantage a second time around. What’s important is getting your foot in the door.

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Use special offers during peak sales times

One time when it might seem counterintuitive to slash prices is when sales are at their peak. For example, around the festive period. However, this is precisely when you should be targeting customers with special offers and promotions. With many eager to spend, even the smallest incentive could be enough to get them to send some of that custom your way.  

Think about it. Come Christmas, the majority have funds set aside for presents, but we still have to choose which retailers to patronize. The most attractive proposition is likely to be the business that targets us with special offers that make this finite savings pot go further, such as two for one offers or 10 percent off.

We’re less likely to be enticed when we’re strapped for cash and saving hard, such as post-Christmas.

Get featured on review sites

It’s not enough to offer discounts and promotions; these need to be shared where potential customers can see them. Online marketing campaigns to push offers are one way to spread the word, but review sites are even more effective.

Certain industries are particularly good at utilizing these, such as the online casino sector. With so much competition in this field, customers have taken to visiting review sites for reliable information and advice. For example, this website on the best casinos in Canada shares not only strengths and overall ratings out of five, but also bonuses and welcome offers, such as free spins and monetary incentives. The result is that customers can take advantage of the competitive nature of the online casino industry and know where to go when they want to make their cash go further.

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Other industries can also take advantage, whether by approaching review sites for a feature or reaching out to bloggers in their niche. These more personalized recommendations can also be highly effective, achieving the same end goal of sharing what you’re offering with your target audience so they can take advantage.

When it comes to special offers and promotions, it’s not enough to host these – you also need to understand how to maximize their effectiveness. That’s what this article is designed to help you with. Use it wisely to grow your sales and profits and boost your business.

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