Are you curious to learn how to grow your giftware business sales without resorting to discounting?
If you’ve found that the only times you get peak sales is when you discount, you need to create some smart selling incentives to bring in sales every day and reward your most loyal customers.
A great way to overcome the discounting problem is to create Bonus Offers.
Customers can’t resist bonuses and they stack the value, giving them a compelling reason to buy and makes the value more important than the price.
So how do you start choosing bonuses for your next offer?
Read on as I will teach you steps to follow to unleash your creativity when it comes to creating bonuses for your offers — and when I say BONUSES, I mean those bonuses that do not overwhelm your clients and distract them.
So when you begin planning bonuses to be included in your offers, here are three guide questions you can ask yourself:
1. “What will add value to my offer?”
A good bonus is something that can enhance and boost your gift sales.
That being said, you need to create a ‘smart incentive bonus’ that’s relevant to the contents of your offer.
Avoid random or out-of-place bonuses so that your clients won’t feel like they are just getting a throw-away item and not a true gift.
I personally enjoy ‘shopping for retail therapy’ and admit to frequently spending more intentionally – just so I qualify for a ‘gift incentive’.
Usually, this means I obtain a bonus gift item with my purchase, qualify for free shipping, or receive a bonus shopping credit off my next purchase.
A recent experience at clothing retailer Witchery, incentivized me to spend $500 in a single order, which enabled me to receive a ‘$100 store voucher’. I’m a loyal customer and had reached a purchase history of $1000 within one year, so I received an additional ‘$100 loyalty voucher’.
As a customer I felt rewarded and appreciated and what do you think I did with the $200 worth of store vouchers…spent them immediately of course!!!
2. “What will make my bonus different or eye-catching?”
Surprising and unexpected bonuses offered to your customers are what will make your gift product offer stand out from the crowd and simultaneously boost profits.
For example, if you’re a gift store owner, you can add a gift voucher bonus when a loyal customer reaches a preset purchases limit online or offline.
A perfect way to ‘incentivise’ and boost your customers’ purchase is with a ‘bonus’ item when they spend to a certain value in-store or online. The bonus item can be a stock line that you wish to move or clear to make way for the arrival of new items and it’s a clever way to add value to your customer experience.
I recall a recent visit to Crabtree & Evelyn where the store assistant informed me as I was browsing that, if I spent over $100 in store today, then I qualify for a bonus gift of a 250ml bottle of body lotion or body wash (RRP of $39) at the special price of $15, which I happily jumped on.
3. “How will it help my sales and marketing goals?”
You can definitely use your bonuses to entice a customer to make a purchase.
For example, you can make a direct offer to your client to upgrade to your new product or service in exchange for getting one to two big bonuses that will serve as a sweetener to your deal.
The bottom-line is to really make your customer feel like they are getting more than the value they paid.
You don’t really have to dazzle your clients with a long list of unnecessary bonuses. All you need to do is find potential bonus gift incentives that will grab their attention, to make your main offer look complete, unique and valuable.
HAVE ANY QUESTIONS? Join Sarah in her Retail Therapy session at Reed Gift Fairs Melbourne August where she will delve even deeper into how to boost your giftware business profits through the introduction of smart selling incentives. To find out more and book your spot, click here.
Do you want to learn new strategies to save time, boost productivity and make more money in your giftware business? If so, please click here to apply for a no cost 30 minute Business Strategy Session to get clear on what is keeping you stuck and to put together an action plan to make more money.