With the development of modern business techniques, many organizations have revamped their strategies to stay relevant to the global market. In the era of digital marketing, websites and ecommerce stores are playing a strong role in providing an online market to the consumers. These platforms provide premium quality products to their customers at a reasonable price, which makes them popular among the digital audience.
Nowadays, free shipping has become extremely common amongst businesses as well. Companies view this as a great marketing strategy. Free shipping has indeed shown great results as 9 out of 10 buyers are attracted to those markets which offer free shipping. Free shipping has a positive psychological influence on the customers, as more than half of the customers look at the shipping fee before they proceed with their shopping spree.
Is the ‘Free Shipping’ Strategy Worth it?
Many businesses have taken on this strategy. It has become so ubiquitous that now customers expect free shipping almost every time they shop from any online platform. Hence, this strategy makes the online business market more competitive and upholds the customer’s requirements. With many brands opting this strategy, it is wise for small businesses to adopt it as well, in order to compete at the highest level. Nonetheless, even if no company has taken on this strategy, then it is a great opportunity for one’s business to utilize. With renowned platforms like Amazon making use of this strategy, the customers have become accustomed to free shipping hence, one’s business needs to stay competitive to be relevant in the market.
Though high numbers and good results can get one excited, companies often fail to understand that this is just one of the many promotional strategies and if the business is not able to handle such extra expenses, they can always opt for another way to promote their business. Many factors may prove that this strategy can become unsustainable for them. There is a high shipping fee over international orders, therefore, companies have to devise a blended strategy accordingly. But they cannot disregard such offers as well since they play a big part in the growth of the company.
Increasing Volume of Sales Through Free Shipping
If a business plays its cards right, it can tremendously increase its sales. Offering free shipping during the season of your top or best selling products can be profitable for the company. Next, set a threshold for free shipping, this will incentivize the customers to shop more till that mark is reached. However, make sure that the threshold is not set too high. Additionally, offer free shipping on returns, only if one’s business rarely gets returns. This tends to build trust between the two parties.
Another good technique would be to mention the amount of money that they have saved from free shipping. Once a company learns how to effectively play out this strategy, they will surely see ascending numbers in their sales. To get free shipping at checkout, customers can make use of online coupons, like Newegg promotion codes to acquire major discounts on a range of products. They provide a list of companies offering free shipping to make life easier for the customers.