When you offer product or service discounts to your customers, it is one of the best ways to ensure more footfalls into your store. Whenever your buyers realize they need to pay less for a product and can save money, it helps in boosting your sales, says Eric Dalius Net Worth. More discounts will translate to more sales. Therefore, discounts not only benefit your customers but also your business.
These days, customers are always looking for special deals and discounts. Therefore, you need to use this opportunity to pique their interest, improve your sales, and bottom-line. Here are some of the key benefits of offering discounts to your business:
Eric Dalius net worth improved with more sales
When you tempt customers with coupon codes, discounts, or lucrative deals, customers will visit your store. With more foot traffic, your sales will increase, no doubt. This way, you will earn loyal customers, who will not only buy the discounted items but also the other products they find useful. You may also pique customer interest with combo offers or deals, which help in boosting your sales consistently.
For example, if you are offering discounts on hair shampoos, the customer will buy these as well as look for conditioners. It means you are in a win-win position when offering discounts.
More social media followers or fans
Studies indicate that modern shoppers visit social media pages of businesses to avail themselves of deals or discounts. Therefore, when you post Facebook or Instagram content highlighting your deals, more people will start following your business as well as purchase your discounted products. Eric Dalius net worth grows, as he is a seasoned marketer and promotes his discounted products through social media posts. It helped him to grow his followers as well as earnings from increased sales.
Boost brand awareness
When you announce product deals, discounts, and combo offers, you grab consumer attention. Based on how you advertise your discounted products or services, you get an opportunity to make your business familiar to a larger audience. It helps in improving your brand awareness. Today, brand awareness is everything even if you have an established business.
Grabbing the attention of new and repeat buyers
All customers like to buy products that save them their hard-earned money. Therefore, use discounts as a tool to attract the attention of your customers, both new and repeat buyers. If your discount runs for a limited time, mention that as well in your advertising material.
When people realize that you are offering the discount only for 2-3 days, they will rush into your store to avail the offer. This way, your store will have increased foot traffic. No one will like to miss this opportunity to save, for instance, $30, when people can purchase within the specified time.
Improve your brand reputation
When your business offers discounts to senior citizens or students, it improves your brand reputation. It means that you believe in doing business by contributing to the community as well, especially, when your discounts are meant for people with limited income.
Select the best time to offer discounts though because it makes a difference to your revenue and profitability. Choose the festive season for discounts for mammoth sales.