Everyone loves a deal, especially if it is worth our while with a great deal of value attached to it!
They are often a sure-fire way that businesses can attract customers through their doors and help them grow organically. It also gives them a chance to find out just how successful they are going to be.
After all, if a business can’t give their products or services away, why would anyone spend anything on them?!
We take a look at four of the most effective ways that deals and offers can help to significantly grow your business!
Establishing relationships
One of the keys to a healthy life is the strength of your relationships that you have with people. This works the same for businesses. Not many grasp this; the majority are all about the bottom line, too sales focused and all about the short term.
If you are a new business, one of the most important things is making sure that people know who you are and getting your name out there. One of the best things about this, is that you can choose how you are going to do it and how you want potential customers to relate to you.
That is why offers, deals or freebies can be a highly effective way of establishing the initial relationship with new, potential or long term customers. It tells people that you are confident in your product and service and also that they should be grateful that you are sharing this with them.
Lifetime Customer Value
This is especially true if you are a local business such as a shop, pub, cafe or restaurant with a considerable footfall or catchment area of potential customers.
Many people are looking for a pub for example that they can go to regularly and will be happy to if they are happy after their first visit.
Offers and deals are a fantastic way of ensuring that this happens (particularly with launches or re-brands). If you over deliver on expectations with your freebie for everyone then you may have just secured a customer base who will return on a regular basis.
One of life’s laws is the law of compensation. Giving something away and to receive something of bigger value back in return over the long term. A business who has a good product and service who is willing to give a little away at first is on to a winner.
Word of mouth
All it takes is for one customer to try your product or service or receive an experience from your business and be completely blown away by it for them to become an instant fan.
Fans willingly promote your business and tell other people about it and this can lead to becoming oversubscribed, which is the point that every business should be aiming for.
Where you literally have people who are happy to queue for your product or service because they know it is so good.
If you believe this as well, then creating an offer or deal to test this belief is a particularly good way of ensuring that you are on the right road. If people absolutely love it, they are likely to tell people about it and as word spreads, success follows.
Opportunity to up-sell more valuable products
One of the great things about offers and deals, is that while someone is experiencing the offer you have the opportunity to provide information about other products or services that you do as well.
When someone is getting something for free, the reciprocity feeling kicks in, where they feel obliged to buy from you.
For example, if you are giving away your cheapest product and your potential paying customer likes it then let them know about a more expensive product that you sell.
Not only are you potentially clawing back some margin, but you’ve created a good impression at the same time based on your willingness to give something away.
It’s the “If you like that, you’ll love this” tactic which is a very effective way to hook a potential customer.
How easy is it to create online offers?
Thanks to Snizl, it is easier than ever before. Our simple-to-use, highly scalable platform not only breaks it down into easy-to-follow steps, but it also reaches a vast number of people who are actively interested in offers.
The best thing is, that we are offering a month’s free non-obligatory trial so that you can see for yourself how effective the results are.