The e-commerce businesses today realize the importance of exploring Customer Behavior. They know how pivotal it can be to increase sales. Research has it that around 96% Americans have made at least one online purchase in their lives. Out of these, 80% bought in the previous month alone. After all, it is more about enhancing your site visits and business than anything else. Similarly, checkout page discount codes is a handy way to get your customer back to buying more. A study reveals that up to 54% customers are willing to buy more products if there is a discount. Naturally, lower price translates into more sales. Here’s what you can do to offer discount codes on checkout page:
Does Consumer Psychology Work?
The famous Marketing Experiment by Dr. Flint McGlaughlin is at work here, which suggests that consumers think of the first price as an average. For instance, seeing a “15 – 30% off” scheme will make them believe that most items are 15% while others are 30% off. Trevor Banes – marketer at CouponBend endorses the research and states that you see a perception at play in the marketing experiment that still works. The consumer psychology comes into play every time you offer them an attractive discount on the checkout page. Furthering his point, he claims that promoting discount coupons on the checkout page is like hitting the nail on the head. It creates doubt in customer’s mind whether or not to buy the offer. Despite not being a scientist, a marketer knows how the art of psychology for selling works. In other words, by creating a sense of scarcity or urgency, marketers can lure you into buying immediately. The same analogy is at work on the checkout discount offers. They see the consumer reaching the checkout page and offer a discount to sweeten the deal, leaving the customer in two minds and eventually buying the offer. Helpful tips and checklist pages like party planning checklist are best place to offer discount codes to customers.
1. Incentivize Your Checkout Page
A study reveals that up to 60% customers leave their shopping carts as is and never return. There are several reasons for abandoning carts, but that’s how customers tend to browse e-commerce sites. Call it the e-commerce version of window shopping where customers will compare prices, check gift options and save merchandise to buy later. The simple reason for this behavior is the absence of a discount code. Another study suggests that around 27% customers would abandon their carts only to look for a discount code. To avoid this, you should incentivize your checkout page with a current discount code that works. Keep updating your checkout page discount codes so that customers don’t abandon their carts without in disappointment. Another way to lure customers into buying discount codes on the checkout page is to re-direct them to your discount voucher page, something similar to this. This trick will reduce chances of losing customer midway and help them stay on your page longer.
2. Promote A Sale When The Deal Ends
Sometimes, e-commerce sites come up with a unique idea to promote a discount code on the checkout page. For instance, promoting your sale just before the scheme is about to end sounds great. After all, customers will hastily try to buy the offer, and you’ll end up with decent sales. Another way of putting it is that it triggers customer’s buying desire. Here is a great example 7 of how you should promote the discount offer on your checkout page. Since the deal is about to end, you’ll likely see a lot of traffic on your checkout page so make sure it stays in order and doesn’t crash due to heavy traffic.
3. Using Scarcity to Create Buying Urgency
This one is interesting and can bring results almost instantly. Ideally, your site should keep it on the checkout page as that’s where it works. The human psychology operates in a way that it can urge customers to buy something that might run out of store shelves soon. A Study shows that adding a discount coupon will only further sweeten the deal. Tell them that the stock will only last by the end of the month and create a sense of urgency. Here is a success story that helped the store garner enough sales by creating a scarcity of a particular product.
4. Offer A “Difficult To Find” Product In Limited Stocks
The beauty of understanding buyer’s psychology is that you are always exploring new ideas on how to sell your stock quickly. As such, the idea of selling product that’s hard to find and is in limited sounds attractive. Though not new, and has been successfully used by several e-commerce stores, the offer is all too attractive for customers to ignore. Moreover, it would make sense to release “limited versions” of your quality products from time to time. For instance, this e-commerce store is a great success story as it follows a similar psychology trick to sell its products in significant numbers.
5. Offer Limited Time Free Shipping
Free shipping is among those e-commerce promotion mantras that always work. After all, who would say no to merchandise that comes without transportation costs? Keep in mind that free shipping best works when offered for a limited period. The idea is to create a sense of urgency among customers for buying the discount code. Off course, without a limited duration, they’ll keep delaying buying decision. To make this psychological trick work best, put the offer on the checkout page and urge them to act now to buy this limited time offer or the time will run out. Here is a great example to learn to promote a limited time free shipping offer to your customers. Once your psychology trick begins to show its effects, and you start to sell in numbers for a while, start improvising and think about newer tricks to lure consumers into buying more from you before leaving the checkout page. Keep in mind that the selling psychology is an intriguing thing and success will likely trigger your ability to come up with innovative e-commerce psychological tricks to sell.