Discounts are powerful techniques to drive sales, attract new customers and retain loyal users. But, if it is not executed carefully, discounting can become detrimental. This could lead to decreased profits, and brand devaluation. To turn discounts to your advantage you have to ensure that you don’t fall for these pitfalls.
In this blog we will explore the five most common discounting mistakes that WooCommerce store owners make and also provide actionable tips to avoid these.
Overusing Discounts
Although discounts attract more new users which boosts sales, relying only on them can harm the brand in the long run.
Overusing discounts will:
● Get you only those customers who wait for sale instead of buying at full price.
● It decreases the perceived value of the product.
● It reduces profit margins, which makes it harder to sustain your business.
How to Avoid This Mistake:
1. Limit the frequency and duration of the discount campaigns.
2. Avoid offering frequent discounts, instead focus on the quality and uniqueness of your products.
3. Use value-added promotions like free shipping, bundles, or exclusive gifts.