{"id":214,"date":"2020-07-21T01:08:18","date_gmt":"2020-07-21T08:08:18","guid":{"rendered":"https:\/\/www.medallionenterprises.com\/blog\/?p=214"},"modified":"2020-06-24T12:12:12","modified_gmt":"2020-06-24T19:12:12","slug":"dont-burn-up-profits-using-discounts-specials","status":"publish","type":"post","link":"https:\/\/www.medallionenterprises.com\/blog\/2020\/07\/21\/dont-burn-up-profits-using-discounts-specials\/","title":{"rendered":"Don&#8217;t Burn Up Profits Using Discounts &#038; Specials"},"content":{"rendered":"<p>Using discounts and specials to drive traffic to your site can be a double-edged sword. Used properly, such sales offers are a powerful tool for boosting conversions. Used haphazardly, however, they can eat-up profits and burn your brand. Effectively utilizing discounts and specials without damaging your brand takes\u00a0<a href=\"https:\/\/www.medallionenterprises.com\/services\/index.html#global\" target=\"_blank\" rel=\"noopener noreferrer\">a bit of finesse<\/a>.<\/p>\n<p><strong>Step-1: Brand Strategy<\/strong><\/p>\n<p>Brand strategy is essential in choosing the best type of sales offer(s) for your biz. For brands boasting deep discounts and healthy margins, daily or weekly sales may be\u00a0<a href=\"https:\/\/www.medallionenterprises.com\/services\/monthly-reorders.html\" target=\"_blank\" rel=\"noopener noreferrer\">better for boosting sales<\/a>. Higher-end brands with slimmer margins, however, do better with customer loyalty-type offers. (This prevents driving in non-loyal\/price-driven shoppers.)<\/p>\n<p><strong>Step-2: Selecting a Discount-Type<\/strong><\/p>\n<p>Popular options include:<\/p>\n<ul type=\"disc\">\n<li><strong>Percentage off.<\/strong><br \/>\nMost common with sub-$100 sales, these range from overall, small 5-20% discounts to larger 50%+ single-item liquidations.<\/li>\n<li><strong>Dollar value discounts.<\/strong><br \/>\nMost commonly used with sales over $100, pair these with a minimum purchase.<\/li>\n<li><strong>Free shipping with minimum purchase.<\/strong><br \/>\n<a href=\"https:\/\/www.medallionenterprises.com\/services\/start-up.html\" target=\"_blank\" rel=\"noopener noreferrer\">Shipping<\/a>\u00a0is the #1 reason for cart abandonment!<\/li>\n<li><strong>Free gift.<\/strong><br \/>\nA great incentive \u2013 and a way to rid product that&#8217;s not moving.<\/li>\n<\/ul>\n<p><strong>Step-3: Determining Timing<\/strong><\/p>\n<ul type=\"disc\">\n<li>Go\u00a0<strong>weekly or monthly<\/strong>\u00a0to drive sales and help meet revenue goals.<\/li>\n<li>Use\u00a0<strong>pre-launch offers<\/strong>\u00a0to drive traffic and boost interest in new items\/businesses.<\/li>\n<li>Take advantage of\u00a0<strong>holidays and seasonal<\/strong>\u00a0milestones to stretch revenue.<\/li>\n<\/ul>\n<p><strong>Step-4: Converting Missed Opportunities<\/strong><\/p>\n<p>Sales offers can also help you nab looky loos.<\/p>\n<ul type=\"disc\">\n<li><strong>Abandoned cart emails<\/strong>\u00a0bearing free shipping\/discount offers are a powerful conversion tool.<\/li>\n<li><strong>Social, email, &amp; newsletter subscriptions offers<\/strong>\u00a0help you\u00a0<a href=\"https:\/\/www.medallionenterprises.com\/services\/internet-stores.html\" target=\"_blank\" rel=\"noopener noreferrer\">broaden your customer base<\/a>.<\/li>\n<li><strong>&#8220;Like&#8221;, &#8220;follow&#8221;, &#8220;share&#8221; &amp; other referral promos<\/strong>\u00a0are a wonderful way to widen word-of-mouth.<\/li>\n<li><strong>First-time shopper offers<\/strong>\u00a0are a great nudge.<\/li>\n<li><strong>Customer loyalty offers<\/strong>\u00a0keep shoppers coming back for more.<\/li>\n<\/ul>\n<p>Struggling to keep up with packaging and shipping needs after using discounts and specials?\u00a0<a href=\"https:\/\/www.medallionenterprises.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Medallion Fulfillment &amp; Logistics<\/a>\u00a0can help. Contact us today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Using discounts and specials to drive traffic to your site can be a double-edged sword. Used properly, such sales offers are a powerful tool for boosting conversions. Used haphazardly, however, they can eat-up profits and burn your brand. Effectively utilizing discounts and specials without damaging your brand takes\u00a0a bit of finesse. Step-1: Brand Strategy Brand &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.medallionenterprises.com\/blog\/2020\/07\/21\/dont-burn-up-profits-using-discounts-specials\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Don&#8217;t Burn Up Profits Using Discounts &#038; Specials&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":73,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[24,91,33,65,92],"class_list":["post-214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tips","tag-business-tips","tag-discount-tips","tag-emarketing-strategy","tag-emarketing-tips","tag-packaging-and-shipping"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Don&#039;t Burn Up Profits Using Discounts &amp; Specials - Medallion Fulfillment &amp; Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.medallionenterprises.com\/blog\/2020\/07\/21\/dont-burn-up-profits-using-discounts-specials\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don&#039;t Burn Up Profits Using Discounts &amp; Specials - Medallion Fulfillment &amp; Logistics\" \/>\n<meta property=\"og:description\" content=\"Using discounts and specials to drive traffic to your site can be a double-edged sword. Used properly, such sales offers are a powerful tool for boosting conversions. Used haphazardly, however, they can eat-up profits and burn your brand. Effectively utilizing discounts and specials without damaging your brand takes\u00a0a bit of finesse. Step-1: Brand Strategy Brand &hellip; Continue reading &quot;Don&#8217;t Burn Up Profits Using Discounts &#038; Specials&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.medallionenterprises.com\/blog\/2020\/07\/21\/dont-burn-up-profits-using-discounts-specials\/\" \/>\n<meta property=\"og:site_name\" content=\"Medallion Fulfillment &amp; Logistics\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-21T08:08:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.medallionenterprises.com\/blog\/wp-content\/uploads\/2019\/12\/Depositphotos_2230936_s-2015.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nancy McCord\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CAFulfillment\" \/>\n<meta name=\"twitter:site\" content=\"@CAFulfillment\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nancy McCord\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.medallionenterprises.com\\\/blog\\\/2020\\\/07\\\/21\\\/dont-burn-up-profits-using-discounts-specials\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.medallionenterprises.com\\\/blog\\\/2020\\\/07\\\/21\\\/dont-burn-up-profits-using-discounts-specials\\\/\"},\"author\":{\"name\":\"Nancy McCord\",\"@id\":\"https:\\\/\\\/www.medallionenterprises.com\\\/blog\\\/#\\\/schema\\\/person\\\/33a9ec1716c374f873d73d608224a8fb\"},\"headline\":\"Don&#8217;t Burn Up Profits Using Discounts &#038; 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