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5 Perks You Can Offer Customers to Close the Sale

Sale tags labels discount on white isolated background.

When customers sign on the dotted line or hit submit from their electronic devices to finalize a transaction, they want to feel like they got the biggest bang for their buck. But oftentimes, getting them to this point can be rather difficult for a number of reasons.

Whether it’s pricing or security concerns, the inability to address and ease any of their reservations will delay the process and they may choose to do business elsewhere. Fortunately, there are incentives you can offer to help seal the deal.

1. Promo Codes

Many consumers are obsessed with saving, but that doesn’t mean you have to offer a discount out the gate to finalize a transaction. If your profit margins are low and you can’t necessarily afford to reduce the price on a particular product or service without taking a hit, communicate to the customer that they’ll be receiving a promotional code to be used on select items at a later date. It’s a win-win situation — the customer will save money and you will earn more from the repeat visit.

2. BOGO Offers

If the markup on your offerings is steep and there’s wiggle room in the pricing structure, extend a buy-one-get-one deal. This promotion can either be offered on identical or related products that customers use frequently. And there’s a significant chance you will generate even more revenue than if the item or service were being sold at the suggested retail price because customers will be anxious to buy while prices are reduced or they could miss out on cost-savings that may not be offered at a later date.

3. Free Shipping

Assuming you have a business shipping account with a major postal carrier, the rates are typically lower than those offered to regular consumers. So, don’t be afraid to pass these savings on in the form of free shipping to customers who are on the fence and in need of a little push to make the purchase. Even if you pay standard rates, it may still be worthwhile to ship the items free of charge. You’ll forfeit the shipping costs, but realize the profit from the sale.

4. Identity Theft Protection

With identity theft on the rise, consumers are buckling down and doing all they can to protect their personal information. To add insult to injury, a number of big-box retailers have been victimized by massive data breaches, leaving customers fearful of shopping online or at brick-and-mortar locations due to heightened security concerns, especially if purchase amounts are on the higher end of the spectrum. By offering some form of identity theft protection through a service like Lifelock, you can ease the mind of your customers since they’ll be alerted immediately should threats to their identity surface.

5. Bundle Deals

Do you offer products or services that complement or can be used in conjunction with one another? By promoting them simultaneously as a bundle deal, customers will be more inclined to fork over the cash because they are, in essence, getting more for less. Although the bottom line is steeper, the price per item is much lower and it’s logical for them to save now rather than spend more in the future.

Entrepreneur.com offers several other strategies for closing a sale. By using one or a combination of these methods, your business will be on its way to boosting sales in no time.

Posted on November 6th, 2014 by Rachel Braam, Office Manager

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