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Increase your profits by giving away discounts.



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Increase your profits by giving away discounts.

Increasing your profits by giving away discounts sounds like one of the most backwards way to make money online, but it's possible. There are a few ways to increase your profits by giving away discounts and I'm going to go over them shortly. This method works best when you're selling something online whether it be a physical product or digital.


Method #1: Discounted Items
This is one of the better known ways of increasing your sales. You simply discount your items by as much as you can, but still being profitable in the end. I wouldn't discount something a great deal because you always want to make money on each sale. If you get something for $5 and sell it for $25 then give people a 50% discount in order to increase your sales. You'll sell much more of that item because people will see that it's discounted a great deal and they might miss out. I wouldn't discount your items 10% or 15% because that's not a big enough price drop to get people interested. Anything over 25% is a good start but if you can hit that 1/2 off mark then you're golden Increase your profits by giving away discounts.

Method #2: BOGO
The buy one get one trick has been around for along time. If you do are doing this at a 1:1 ratio then that means you're items are practically 50% off. You'll need to have your pricing just right in order to profit with every sale and not lose money because you're math is off slightly. If you don't like the buy one get one free system you can always just discount the second item by 50% so that you're profiting a little more. What you'll do is say "Buy one and get the second at a 50% discount". You don't have to do a 1:1 ratio, you can actually do a Buy 3 Get 1 Free which is basically a BOGO, but not as many people will jump no this because they may not need 4 of something.

Method #3: Registration Discounts
This method really only works if you don't require registration in order to make a purchase. You'll make sales from people who aren't registered but you're offering them a chance at a discounted price just for signing up. A ton of people will sign up to get the additional 10% to 50% off (or whatever you decide it should be) and your sales will increase. This method also works well when it comes to increasing your newsletter sign ups because you can have them automatically added to your mailchimp account upon registration and they will usually opt in when they get the activation email Increase your profits by giving away discounts.

Method #4: Social Sharing Discounts
This method is personally one of my favorites because it works so well. I like to set up a social sharing discount for a lot of my eCommerce websites because they are usually a general product that can target a lot of different people no matter their race, religion, sex, or anything else lol. What I'll do is have a pop up when they're viewing their cart and they click "Continue to Checkout" or just "Checkout". It will have a pop up or drop down letting them know that if they click the share button for facebook they will let everyone know they're buying an item from us at a XX% discount just for sharing the fact that they ordered from us. What I usually have the pop up or drop down say is "Want to get an additional 25% off? Let your friends know you're purchasing from us and the discount will automatically be applied to your cart! Just CLICK HERE to share" and once they click the image it will either share to their facebook page or ask them to log in Increase your profits by giving away discounts. This method works really well because they're getting a percentage off of their sale and they are advertising to all of their friends on facebook Increase your profits by giving away discounts. Now some of the people may just delete the post after they make the purchase, but a lot of them will not.

The only downside of this method is that it takes some special coding in order to get the share to be recognized and then have the discount applied. You can find a good programmer right here on SEOclerks if you can't do it yourself Increase your profits by giving away discounts.



In Conclusion:
Giving discounts can increase your sales in the few different ways that I've listed above. Play around with them and see which works best, I prefer #4 but that may not work for you if you don't have a good programmer. If you use these methods you're sure to increase your sales Increase your profits by giving away discounts.



Remember to follow me!
https://www.seoclerks.com/user/Razzy


Thanks!

Razzy

Comments

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idealmike

BOGOFF! I beg your pardon said the man that saw that on the shop window for the first time. Look dear, how rude, they're telling us to bog off! No my dear says his loyal little wife, it means Buy One Get One For Free! Oh the old and corrected man said, well in that case, I'll go inside. And that's how BOGOFF deals work. And who else doesn't want to be able to buy one of something and get another one of them for free? And those work great especially when it comes to freelance services too! Just putting that on one of your services on here can gain you a lot of extra sales from it. Sure, it will mean double the amount of work for you as a freelancer (unless you're not the one doing the work yourself). But it could also mean more sales for you too and using a BOGOFF in a new service is a sure fire way to more entice people into buying it too!

I may have to put this into practice on some of my services soon and prove the case in point! Increase your profits by giving away discounts.




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sanfora

this tips will be good for boost sales yes discounts and bonuses always works




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Shortie861

These are amazing tips! Everyone knows that when a new business starts selling people are always going to be weary of purchasing from them as you never know what to expect, I know I always am weary when buying from somewhere new. Offering some kind of discount such as so much off when you make a first purchase or buy one get one free on your first purchase will encourage people to buy from you, once they have purchased and they are happy with what you offer they are more than likely to come back again and again to purchase more. It's about giving your customers a chance to give you a try without them feeling like they would lose something if they did and if they like your service it's their gain from your offer.




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JustinArce

People do love discounts even if they're small but they like feeling like they're getting it cheap




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Henrywrites

Discounts are one of the ways, my boss at the office use to make our present customers to always patronize us by buying of our products while we also thrive to get the new client on the way. Our boss does not play with giving discounts to our customers ranging from referral discounts to distance discount and the rest of them.




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augusta

Definitely, to increase your profit one needs to give out a discount to enable customers to buy more,it would not kill the business if 3-5 % discount is given to a client or customers.

Don't forget ,this is not a one- time business, even subsequent ones,you can still make a profit when once the customer returns to buy again.




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Corzhens

Let me share this marketing principle of one Chinese friend. Their style is to sell not for profit but more for selling per se. That means it doesn’t matter if the profit is low. That’s why giving discounts started with them because they are good in marketing. There is a saying that a Chinese trader can sell you the moon, that is to show their marketing savvy. Instead of being left with goods that are expired, sell it at a big discount.




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kgord

These are all tried and true ways to discount items. I think it is just one of the multiple options you have available to you when you want to try this strategy that will hopefully get some customers buying off your site. It is just one of the ways to get customers. Discounts are always a great tool!




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