Promotional offers can help reduce cart abandonment and enhance customer experiences

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 13, 2020, 8:45 AM GMT+0

Extend welcome offers to new subscribers to build customer loyalty.

This piece suggests brands to leverage promotional strategies like discounts, free shipping, and others in crisis situations to enhance sales and attract new customers. Offering bundled discounts and kits on complimentary products opens up upselling opportunities, while effectively engaging customers.

Send exclusive coupon codes or welcome offers to new subscribers of a newsletter to make them feel valued and build loyalty. Brands can also create exit-intent popups with offers to communicate with customers that are leaving to improve conversion rates.

Businesses must be mindful of the total cost of their discounts to ensure their margins remain profitable. Consider factors like current cost acquisition, average customer lifetime and how consumers are converting to craft effective promotional offers and increase revenue.

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