Our Offers feature lets you run specials and deals right from within your Genbook account. Your customers can easily purchase and schedule Offers in a seamless, completely integrated way, entirely through Genbook. No need to remember promo codes, no digging around for a way to schedule a purchased Offer.
But, once you decide to run an Offer, how do make sure it’s a success? We dug through our data on Offers to help you with that! A few trends emerged, and informed the following five tips for getting the most out of your Offers.
1. Find your discount sweet spot
We define the discount sweet spot as the percentage that makes your customers feel they’re getting a deal they can’t pass up, without causing your business to sell services at prices that undervalue your expertise. Others define it as the discount percentage that yields the most clicks or purchases.
It’s tempting to think that high discounts equal more purchases, but that’s not actually true, especially for service-based businesses like those using Genbook.
It can be hard to figure out your business’s and customers’ discount sweet spot, so we’d like to give you a little guidance based on what we’ve seen. Our analysis showed that Offers discounted between 30% and 50% had the highest number of purchases, and resulted in the highest Offers revenues. While this wasn’t true for every business, the majority of well-received Offers fell into that range. That’s why we recommend starting with a discount between 30% and 50% and seeing how it works for your business. Remember, it costs nothing to run an Offer (we only get a commission on Offers you sell), so if an Offer really isn’t getting any bites, you can always start over with a new one.
2. Create and run holiday Offers
By far the most lucrative Offers we’ve seen have been holiday ones (Winter holiday ones, to be exact). Maybe it’s because Offers make great gifts. Or because the Holidays can be stressful (and therefore the perfect time for indulging in a discounted massage or spa pampering).
And while the Winter holidays produce better Offer sales than other occasions, it’s important not to count out the rest of the major gift-giving holidays. Valentine’s Day and Mother’s Day Offers were also extremely popular and well-received.
3. Limit purchase windows, not booking windows
This isn’t a hard and fast rule, but we’ve seen great results from Offers that have wide (perhaps even unlimited) booking windows, but do have purchase deadlines. If an Offer is only on sale for a few weeks or a month, but can then be scheduled for 6 or more months, customers are more likely to buy it. That’s because they don’t have to worry about having to redeem their purchases during what may be busy times for both them and your business.
In most cases, we recommend not constricting the time during which your customers can book the Offers they purchase. However, we also recognize the value of very short-lived Offers for certain types of businesses (photographers, for example).
4. Share Offers via social media
Sharing Offers via Facebook, Twitter, Instagram and other social platforms where you connect with customers is a great way to reach customers who may not regularly visit your Website or Online Scheduling Page. By casting a much wider net, you can reach customers who haven’t yet been to your business (or haven’t been in a while). Genbook offers easy share buttons right on the Offer Dashboard screen.
5. Create and run “new customer” Offers
One of the best ways to draw new customers to your business is to give them a chance to try your services at a reduced rate. This removes some of the risk for them, while also adding an incentive and making them feel special.
We’ve seen great results for Offers targeted at new customers. Like holiday Offers, new customer Offers are among the top-selling and most lucrative for the Genbook businesses who run them.
We hope the above tips help your business run successful Offers.
Got any successful Offer-running tips/stories you’d like to share? Let us know.
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