Taking advantage of online discounts

Today in Colombia we are in “Dia sin IVA” which is basically a law that consists in selling products (of some industries) without taxes. This also leads to a rise in sales as consumers are constantly looking for discounts on the products they currently need. So Colombians wait for this day to purchase different products they already considered purchasing.

This massive purchasing throughout the whole country only confirms the fact that users are prioritizing low price products over anything else. This makes me consider all the potential customers that we lose only because of the price factor. And I don’t mean we have to give discounts to every single customer or product, but we do need to have in mind that every customer is prioritizing price right now.

One time I was conducting a focus group with a brand that has the fortune to have a really loyal customer database. We wanted to test satisfaction surveys and how we could make them more appealing to them. One thing that every single participant agreed with was that, to thank their loyalty, they always expected discounts or gift cards.

So even very loyal customers are always expecting an economic compensation for their purchases. This is why we shouldn’t wait for dates like today or Black Friday where consumers buy massively to offer them a discount as they see it as a payment for choosing us as companies.

Other benefits of offering discounts online are attracting new customers and increasing frequent ones, meeting sales goals, or even in some cases, saving money. It doesn’t matter how you choose to implement this strategy, there’s a high possibility that with discounts you increase your customers, and of course, every company will be different, what is certainly true is that discounts are perceived as something positive for customers in our current global context.