How to Provide Discounts or Coupons Without Making a Loss?
Are you struggling to improve your brand’s conversion rate?
If people are visiting your page, but are just leaving the site without a purchase, then it might be the case that they don’t find your offers too good. You did a great job in bringing the leads but failed to capture them. This is when you can use the strategy of offering discounts and coupons to ensure an increase in the conversion rate.
Are afraid of incurring loss while offering discounts or coupons?
It is not necessarily always the case. It entirely depends on how to use the strategy to ensure a positive result even after giving away discounts.
Offering discounts have always been used to encourage customers and prospects to make a purchase, even in the digital market. It is an effective strategy that many business owners use after considering whether visitors are in the buyer’s journey or not.
Business owners plan every step of their plan execution. They don’t just go online and post their offers. They set the time, mode, and reason for offering discounts or coupons.
Offering discounts or coupons can even backfire in different ways sometimes. So, consider the following ways while planning to give out an offer.
Capture New Visitors with a Special Offer
Offering a new visitor discounts or coupons might not always bring a positive result right away. Instead, go for smaller commitments like asking for their email address in exchange for a discount code.
1. Reward Loyal Customers
If you have a group of loyal customers, you should often reward them for being loyal to your brand. Whenever customers cross a certain amount of money on your website, you need to offer them discounts or coupons on the next order as a thank you reward.
2. Boost Sales During Holidays
During any holiday or festive season, people go online to purchase gifts for their friends and family. There is always an increase in sales due to the holiday offers and discounts.
3. Use Pre-Order Discounts for New Products
Whenever there is a launch of the new products, you want a maximum number of people to buy them. So, make the online stores promote it with a pre-order discount on upcoming products. But offer a small discount or else it can devalue the product.
4. Reduce Abandoned Carts
Most likely you already use this strategy. But if you aren’t, start using it. You constantly need to offer a discount on the items in their cart, to bring them back and make them purchase those items.
5. Rewards Referrals from Existing Customers
You must be familiar with referral marketing. It is an effective way to invite new customers through the existing ones by offering them discounts or coupons.
6. Retarget Visitors with a Custom Offer
The best way to bring more sales is to target every customer with a personal message. Personalized emails, ads, or on-site messages can surely increase sales. Create ads or emails focusing on the offer that is only for them.
7. Offer Discounts on Subscriptions
This is another way of customer retention. You can offer discounts or coupons to the prospects to make them subscribe. After that, you can easily target the prospects. This will increase customer lifetime value and recover it.
8. Follow Up with Event Attendees
If you promote any of your products in an event, it will bring you, attendees. Send emails to them and promote the products you promoted in the event. Don’t forget to link them to your site. This offer becomes more exclusive and brings more visitors to a specific segment.
Organic Search: Definition, Comparison with Paid Search.
You must have seen marketers going crazy over organic search. Have you ever wondered what is it? Why do business owners work so hard to boost their organic search? In this article, we will ensure that you get answers to every query about organic search.
Let’s get started.
What is Organic Search?
Organic search refers to the search results of a search engine without the influence of paid ads. In other words, organic search results are the unpaid results that a search engine shows after a query. These search results are ranked on the SERPs as per their relevance to the search query.
Marketers around the world are constantly planning out strategies to boost their organic traffic. The term “organic traffic” is used for the traffic that lands on your page, looking for an answer to their queries.
However, there is another strategy that marketers use apart from organic search. It is called “paid search”. Are you familiar with this term? Even if you are not, you must be familiar with the ads that appear on any search result page.
The ads that you see on Google, Bing, Yahoo, or even on YouTube are known as paid ads. These ads are primarily used to target ready-to-buy customers.
Organic Search V/S Paid Search
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Some Benefits of Organic Search:
Zero expense:
Unlike paid search, organic research needs zero expense. In simple words, you won’t have to spend your monthly budget on ads. However, you need to invest time to see the results. In other words, you will need time to research the market, select your target audience, build a strategy and create the content. However, you can make the work easier by hiring an SEO agency. Their expert SEO professionals can get you the organic traffic you want, while you relax at home.
Generates a remarkable ROI:
Just like other business owners, your goal is also about generating an impressive ROI. Whether you rely on organic search or paid search, you can’t forget about ROI. When you optimize your website to get a better ranking on the SERPs, you will obviously generate organic traffic. More organic traffic on your page will only result in boosting your ROI earned. In other words, you will be earning a remarkable ROI without spending a penny.
Increases credibility:
Organic search will let you have a good impression on your clients. For example, anyone is looking for a frying pan and your company appears as the first SERP. Then the person will surely find you trustable. Also, when your company shows up in several SERPs, your potential customers start to recognize your brand. Thus, organic results can boost your credibility.
Targets relevant customers:
Well, both organic search and paid search can bring traffic to your website. However, natural searches are effective in targeting the most relevant traffic. Moreover, organic search lets you target a number of searches without spending a penny. In other words, your company becomes more visible online whenever there’s a query related to your product/service.
How Much Does Google Ads Cost?
How much does Google Ads cost?
It is a good question, indeed.
And it comes to every new business owner’s mind. They need to advertise their product and make people aware of the existence of the new brand.
And what is better than Google Ads advertising them.
Advertising your product in a PPC platform like Google Ads can have a massive impact on your business.
As per Google, every advertiser on their platform makes two dollars for every dollar they spend on ads, which means they are doubling their investment.
Depending on your business sector, the cost of the keywords may vary widely. But the average Google Ads cost can be about $1 to $2 per click.
The Google Ads cost depends on a lot of aspects. It would be best if you considered a lot of factors before finalizing the budget of your business so that you don’t have to swim in a pool of debts later on.
- Google Ads cost depends on an auction system that promotes your businesses with high-quality ad campaigns and better ad placements.
- You can have the power to control your Google Ads budget is spent using methods like ad scheduling, geo-targeting, and device targeting.
- The most expensive keywords that are available in Google Ads can more than $50 per click. These keywords are highly competitive in industries that have high values of customer lifetime.
- Huge businesses spend up to $50 million per year on PPC service with Google Ads cost.
- The average small business spends almost $100,000 to $120,000 yearly on Google Ads.
As said earlier, Google Ads is one of the most excellent platforms to advertise your product with high controllability. You can alter the spending as per your need, whether to increase or decrease.
The goal is to make profits after investing a sum.
You do spend some, only to get more out of it.
How Much Should I Spend On Google Ads?
It is difficult to give you a specific number when you wonder how much to spend on Google Ads.
The expense varies widely depending on your selling goals, how broad of a geographic area you are targeting, search volume, and the competitiveness in your sector.
The positive thing is that you can customize your campaign and choose precisely how much to spend on Google Ads a day. The negative aspect is that you can’t guess how much to spend.
Spending too little won’t generate any leads. On the other hand, spending a lot will mean wasting your resources. Rather than wasting money on Google Ads, you can use these resources for proper SEO and content marketing.
The less you spend, the more you limit your ROI.
The wider your goals are, the more money you need to spend.
To achieve the goal, you need to use the trial and error method, as there’s no specific way to have it. Still, try it out!
Steps to follow to try out the trial and error method:
We have to follow a trial and error method to determine how much to spend on Google Ads. So, let’s see how you can find the right answer to how much to spend on Google Ads.
- Create a test budget first. You have to keep in mind that you are investing in market research. With testing, you can recognize what ad messages are targeting the audience and converting the clicks into leads.
- Then make a new budget. If your last budget helped generate leads, then abandon it and create a new one with the improved strategy and higher goals.
- It would be best if you focused on ROI, not cost. If you want to dominate your marketing sector, you can’t think about the expenses. But you must remember to analyze your marketing strategies to maximize the ROI.
- It would be best if you focused on EPC, not PPC. Many advertisers focus on lowering their PPC. They improve their Google Ads quality scores to cheaper their click rate. But the main focus should be on increasing your earnings per click (EPC). If you manage to get the highest EPC in the market, you can gain more clicks, more leads, and more customers, leaving your competitors far behind.
Therefore, you need to follow some tactics to strategically plan your budget and minimize the expense to win the Google Ads battle. Hopefully, you will be able to determine how much to spend on Google Ads once you try out the above method.
