With the holiday season fast approaching, small business owners are ramping up their efforts to increase revenue during the last quarter of 2010. And because holiday shoppers love to save money, one of the easiest ways to bring in new customers is by offering a coupon or discount. Whether you operate an online store, a physical establishment, or both, promoting with coupons and other discounts can help you build customer loyalty and increase sales.
So what types of promotions should you consider? Let’s take a look at some of the tried-and-true ones:
- Free Shipping
Customers love to get free shipping when they’re shopping online. To help you offset any concerns about absorbing the shipping costs, you can set a minimum order amount for your promotion. That way, you help to ensure that the purchase is profitable for your business—and it might encourage your customers to buy a few extra items to qualify for the savings.
- Special Gift with Purchase
The holiday season is a great time to offer special gifts with purchases from your store. When you’re selecting the items to offer as special gifts, keep in mind that they’re often indulgences (i.e., incentives) that the buyers will keep for themselves.
- Percentage Discounts
Percentage discounts are one of the most popular forms of promotion. By offering a flat 10%, 20%, or more off one item or a total purchase, you’re appealing to shoppers who are looking to save on the specific items on their list.
- Coupon Websites
Coupon websites offer a great way to put your coupons in front of a large group of consumers who are searching for discounts. Services like RetailMeNot.com and CouponCabin.com offer free submission into their databases with just a few clicks. RetailMeNot.com also offers the ability to post printable coupons for local shoppers.
What promotions are you using this holiday season? Have any success stories you’d like to share? Please leave us a comment.
The original version of this article appeared in The Buzz newsletter from Web.com.
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