Coupons, discounts and sales can be your friend when driving conversions, but they can also be your nemesis. Why should you always have to discount your product purchase price? After all, your product is a representation of hard work, and is competitively priced. There are many other ways to add value to a transaction without promotional codes, and TrialPay is here to walk you through them.
1. Points System
Create value and loyalty with a points system. Loyalty rewards (dollars or points) is the leading customer loyalty component for retailers worldwide (Aberdeen Group, March 2010). This is a successful component that drives more sales. Sephora.com uses Beauty Insider points to drive more purchases. With the accumulation of points through purchases, Beauty Insiders can earn special samples. The result? Beauty Insiders feel more value for their purchase as their points accumulate for an exclusive sample from Sephora.
How does this concept translate for developers? Let your buyers earn points towards new content and upgrades or allow your customers to redeem accumulated points for loyalty dollars towards a future purchase.
2. Extended Downloads
One of the benefits of digital goods is that consumers can experience the instant gratification of their online purchase. However, if your shoppers change computers or experiences computer failure, they may need to re-download or re-install your product. This can be a complicated procedure if your site doesn’t offer an extended download. Add value to your transaction by offering an extended download promotion.
3. Preferred Support
Incentivize new sales or upgrades with preferred customer support packages. These packages can include expedited support, early access to alpha or beta releases, membership to private community pages or other benefits that don’t create high costs for your business. Also, be sure to ascribe a monetary value to your preferred support package. For example, “Upgrade to version 3.0, and get our Gold Customer Membership for FREE (normally $19.95).”
4. Free Downloadable Content
A great incentive for customers to buy and feel like they are getting more for their money is to offer free bonus content with purchase, such as downloadable content (DLC). While downloadable content is usually offered with games, think outside the box for free content and upgrades you can send your users. For example, if you have developed business software, offer upgrades that include templates and an additional library of icons.
5. Bundles
Bundles are great sales tools. They’re seen on infomercials all the time, “Buy this product for $19.95 and we’ll throw in these great accessories!” The trick to creating bundles without discounting your purchase price is to be smart about your pricing or what you choose to bundle. Either bundle with a newer and unrelated concept, a simple tool, or a complementary product that you have created for the main item.
6. Sweepstakes / Giveaway
If there is the possibility to win big from one purchase, it will push a potential buyer towards conversion. A case study from Marketing Experiments shows how a giveaway lifted conversions, and how a high QUALITY giveaway outperformed a high QUANTITY giveaway by 31%. Be smart when choosing prizes – understand your customer base and thoughtfully pick something that will appeal to them.
7. TrialPay’s ‘Get It Free’
Thousands of online sellers have sold millions of products through TrialPay’s alternative payment platform. TrialPay’s platform gives blue-chip advertisers the ability to buy products for online shoppers in exchange for trying or buying their service. Shoppers “Get It Free”, you complete a sale and the advertiser acquires a new customer. TrialPay is free to use and can be implemented on your site in a variety of ways.
There are many ways to increase sales without putting your product in the bargain bin. What ideas are you using to add value without slashing prices?
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This is an excellent way to get more value for your dollar. The beauty about this is this technique of offering value without discounting will work for online and offline businesses just the same. Great. Post. Thanks.
To who this may concern, my name is Amy Lauren Struzik. AKA/ Milaena Lucci AKA/Miarra.Mia due to safety for my Verizon 4Lgte Samsung Stratasphere GALAXY S. # +1 (617-895-6474).com. I’m having problems retrieving my emails. Anyway, I’m an artist/graphic deseigner/creator…but I’ve also been in sales all my life. I’ve nothing but positive comments to your ways of advertising. I believe the best can still absorb much more… resulting in what you want…Upselling! EVERYONE want to feel that they got taken care of. A deal as what your doing with Trialpay. Even with showing the billions you’ve saved people, over years now, the adds are still the same and those site obviosly are showing numbers…Right? The difference is, the age range is changing … kids are becoming teens and eight year olds want nothing with trialpay. But they do like horoscopes! If you then want to email that to their friends with no interuptions. The next thing could be like ach chain with age appropriate games/quizzes that they see certain ads that have them sendingtag the game of choice to say 10 then they can trialplay that game with their friends and have 3 days of competing online and put their names up to keep score all over the world playing all games. Trialpay advertised and 3 days of getting good at something the kid is going to want it because all their friends do… winter is coming! Just 1 idea… I got a little into thinking how my god daughter is and aunty can never say NO! Amy