Bill Coleman - Philadelphia, Pennsylvania

President

Philadelphia, Pennsylvania

Home Based Biz, Services, Work from Home

Marketing and Sales, Creating Effective Incentives. We are all familiar with the concept of using incentives, such as product discounts, free gifts, or free shipping to boost sales. However, rarely have we done the kind of research that allows us to think through the true principles and the mathematics of developing highly effective incentivesthat is, ones that result in the maximum profit at the end of the day. The key to an effective popup on a landing page is to quickly engage customers attention before they close the window. You must entice your customer to cooperate by using an appealing offer or incentive. It MUST have intrinsic appeal. So which incentive was more effective at preventing abandons and getting computer products consumers to give their email addressesFirst we sent two basket recovery emails without an incentive. The first one was sent an hour after abandonment, the second, 24 hours after abandonment. We established credibility with the customers by providing specific information about their experience on the site and a link with clear directions as to how they could complete the order. We then restated the product and services they would be purchasing. This was done as a customer service, not a sales effort. The tone was polite and helpful. The average conversion was about 7%, which is actually pretty good. However, we thought we could do better than that. We then sent an entirely new 24-hour-after-abandonment basket recovery email with an incentive of a 33% discount. So incentives can be a powerful tool for boosting sales volume, whether on web pages or in email offers. But should every offer I make include an incentive? Is there a reliable way to know when an incentive is needed, and if so, where in the sales process should it be presented? To read more or get the full report FREE please contact Coleman Book Company we'll send it via email upon request.