It should help you to choose your marketing promotions and according promotion type to publish your Events at AltumPrime.
- Percentage-based discount
- Dollar value discount
- Free shipping
- Free gift
- Weekly/monthly discounts
- Prelaunch (upcoming) offers
- Holiday and seasonal deals
- Email/newsletter subscription offer
- Incentives for liking, following, and sharing on social media
- Referral promos
- First-time shopper offer
- Minimum purchase discount
- Exclusive social offers
- Customer loyalty program membership incentives
Percentage-based discount
One popular way to offer discounts is through percentage-based discounts. This can include small incentive percentages like 5% or 10% off, larger discounts to really drive sales like 20% and 25%, or significant percentages like 50%+ to liquidate merchandise that’s old or isn’t moving.
Dollar value discount
Actually "dollar value" means a price discount in a currency what is used in your online store.
An easy trick to keep in mind when deciding between a percentage or fixed amount discount for a specific product is the rule of 100. If your item is less than $100.00, use a percentage discount; if higher, use a fixed amount discount. This is a psychological trigger that will result in the highest perceived value for your customers
(ref https://www.entrepreneur.com/article/278134)
The $50 off coupon generated 170% more revenue than the 15% off coupon, and its conversion rate was 72% higher.
Interestingly, however, with subject lines that clearly stated the offer as either 15% off or $50 off, the open rates and click-through rates were pretty much the same for the two versions. This means that people were opening both emails, but responding better to the $50 off coupon.
Free shipping
Shipping costs are one major reason for shopping cart abandonment. Offering free shipping is a great way to mitigate this and increase conversions.
Use free shipping discounts in conjunction with a minimum purchase requirement to increase your average order value. You can also limit this discount type to specific countries and groups of customers (such as customer loyalty program members), and avoid cutting into your margins by excluding shipping rates over a certain amount.
Free gift
A free gift with a purchase can be a great way to provide additional value to customer. If used strategically, it can also be used to increase average order size and/or to get rid of product that isn’t moving.
Weekly/monthly discounts
These are traditional sales used to drive conversions. Many times sales are used at the end of a month or quarter to increase revenues to meet business goals.
Prelaunch (upcoming) offers
If you’re still in the prelaunch stage of your business or maybe even launching a new product, you can use prelaunch offers to drive traffic and peak interest, turning new customers into loyal customers.
Holiday and seasonal deals
Black Friday Cyber Monday and the holiday season are the big ones, but the whole year is sprinkled with national and commemorative holidays that provide an opportunity to share relevant discounts and offers with customers.
Email/newsletter subscription offer
As you probably already know, building an email list is extremely important for online retailers. By providing an offer in exchange for visitors’ email addresses, you increase the chance of a conversion. You also get their email, providing you with the opportunity to build a relationship, foster customer loyalty, and market to them in the future.
Example: Online retailer offers a coupon for 15% off your purchase for signing up to their newsletter.
Incentives for liking, following, and sharing on social media
One of the hardest parts of running a new online store is getting the word out. Giving visitors and customers an incentive to share your store with their social circles can be an effective way to create inexpensive word-of-mouth.
Example: Online retailer offers customers $5 off their next purchase in exchange for visitors sharing about the brand and experience on Facebook.
Referral promos
People are much more likely to purchase from you if referred by a friend or family member. Use this to your advantage and leverage offers to encourage referrals. You can choose to give a deal to the person referring, the person being referred, or both.
Every so often, customers are gifted promo codes to share with friends and family, who can then redeem their first box for free or at a steeply discounted price. For every friend who redeems, the referrer often gets a free or discounted box, too.
First-time shopper offer
Providing a first-timers offer could be just the nudge a first-time visitor needs to be converted to a paying customer.
Example: Online retailer provides all new visitors with a 50% discount on prescription glasses, 15% on contact lenses and free shipping.
Minimum purchase discount
An offer based on the total value of a shopping cart is an effective upselling tactic to encourage customers to spend more, increasing your average order size. A strategic way to incorporate this into your online store is to calculate your average order value for the previous few months and offer a discount or free shipping on all order 10–20% over your average order value.
You can also offer minimum purchase discounts for specific collections and products. If there’s a particular collection you want customers to focus on, try adding a minimum purchase discount to incentivize your audience.
Example: Online retailer offers free shipping on all orders over $100.
Exclusive social offers
Exclusive offers on your social networks can be a great way to build customer loyalty with those who follow you. Plus, this tactic provides a reason for new people to follow and subscribe to your social channels, which will allow you to market to them in the future as well.
Example: Online retailer has shared social media-specific offers. They offered Twitter followers a code for 15% off all orders.
Customer loyalty program membership incentives
Rewarding customers for joining your customer loyalty program is an ideal time to share a bonus incentive. This not only rewards customers for engaging with your brand, but it also gives them more motivation to sign up for the program in the first place.
If you don’t already have a customer loyalty program in place, it might be time to reconsider.
According to a report by Forrester, customers who belong to loyalty programs spend $42.33 more over the course of three months.
Example: Online Retailer offers $5 off your next purchase when you join their Big Rewards customer loyalty program. Customers can redeem the reward online or in-store.