The online business world is, almost by definition, incredibly competitive. With new ventures being launched by the minute it can be rather difficult for businesspeople, newcomers and established honchos alike, to make their mark on the marketplace and yield delicious profits, however there’s a business tactic that many entrepreneurs can and do employ – promotional deals. But how and why do these deals make a difference to the bottom line? How can you best employ them to boost your business levels?
Attracting New Business
Whatever your online company is offering to e-customers, whether it be shopping, services or an innovative new product, offering up promotional deals to would-be customers is a sure-fire way of enticing new business. Customers love to have special discounts and be offered exclusive promotions and the mere mention of a special price offer or free product can push the intentions of a customer from a mere “perhaps” to a resounding “definitely!” Some companies are really good at this. Take art retail website AllPosters.com. This site constantly offers up site-wide percentage-off offers to customers, new and existing, rightly reaping the rewards in the process.
Keeping and retaining your current customers is a wise strategy and investment. Existing customers often help attract new customers by way of word of mouth and recommendations to friends and families. Offering deals to your existing client base can be a wonderful way of keeping your customers loyal to your website, particularly within the more competitive online sectors. Take online gaming business Royal Vegas Casino, for instance. Royal Vegas Casino offers customers the ability to play casino-themed games such as slots, blackjack and the like, is one of many businesses in the competitive online casino gaming sphere, however they manage to retain a hefty market share through the implementation of near-constant promotional deals such as free cash to play with, free games, and free entry to tournaments.
An Edge over the Competition
Price comparison websites are a hallmark of the current online business scene. Whatever your business’ purview, a would-be customer can simply log in to one of these sites, type in what they are looking for and instantly see a tabled view of all of the companies operating within that particular niche. Promotions are a deft way of edging your company up the rankings of these comparison sites, and this in itself will greatly assist in driving more business towards your business. This same point also applies to the website equivalent of the coupon booklet. Sites such as RetailMeNot.com, FreeShipping.org and Dealio.com are all places where customers can go to type in a particular site or business type, perusing the offers available from those offering them. By posting deals, and later, posting more attractive deals, you can garner interest from these cut-price avenues.
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