In the retail world, “conversion rate” is the percentage of visitors who make a purchase.
Every three weeks, I get Bath & Body Works coupons in the mail. One is always a coupon for a free item, no purchase necessary. The other is always a discount coupon (20% off, $10 off a $30 purchase, etc.) When you get the free one, you also get a discount to be used on your same shopping trip.
My experience in retail management started at Bath & Body Works ten years ago (whoa, time flies!) We were trained to spot the customers who came in with their free coupon - offer them excellent customer service, and then use the relationship to build the sale *knowing* they had an additional discount to use. The coupon got them in the door, but it's now my job to build the sale.
Offering freebies and discounts gets interested people in front of you - now what are you going to do about it?
Offering a free download in exchange for the customer’s email address? Cool, do you have an active email marketing campaign?
Offering a discounted service? Awesome, how will you ensure they come back?
Freebies and discounts are great tools to use, when used strategically. We don’t know anyone who *looooves* to sell things. Most of us became entrepreneurs because we have a product or service that we want to share, right? Take this opportunity to SHARE what you have to offer. What problems can you solve? How can your product or service enhance someone’s life?
Your freebie or discount brought potential customers, but it’s up to you to build the sale.
Not quite sure how to use these tools strategically? Send us a message!