Leverage discount pricing strategies

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 26, 2021, 4:10 PM GMT+0

When used appropriately, ecommerce discount pricing strategies can help businesses generate more leads, gain and retain loyal customers.

Using the right pricing strategy is crucial for scaling the business, increase sales and grow profits. Companies need to leverage an intelligent pricing strategy to drive sales, profitability and customer acquisition. But, they should first know and understand their target audience to effectively reach prospects with relevant and compelling discounts.

Offering customised discount deals and promotions to specific customers can help ecommerce brands gain loyal customers in the long term. While there are different types of discounts - ranging from percentage discounts and cash discounts to multi-buy and combination offers, businesses need to decide the kind of discount that can efficiently increase their sales.

Businesses can also use ecommerce marketing tools to automate the process. But, pay attention to timing and use a visual contrast to show the markdown.

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