Do you know that more than 25% of the world’s population prefers to purchase things online? And it was predicted that global buyers would be increased to 2Billion. No doubt, these data are incredible.
On the one hand, these data create business opportunities, and on others, it boosts the competition too. Nowadays, people do not prefer to like to visit physical shops because of two primary causes:
- Do not get the best price
- Fail to compare
Physically visiting a different shop for a similar product is not possible. In mobile with the help of eCommerce sites, user can compare a product with other hundreds of website. But, here the major challenge face by the companies is “Fail to retain the customer”.
What Does Retaining Customer Mean?
The word retains means holding or preserve. In the eCommerce world, retaining means customer holding. How strong you can keep the customers shows that the authenticity of the site. It also boosts the revenue and overall growth of the company.
There are multiple ways through which you can retain the visitors. But, there is a popular one known as “Time-Limited Promotion” which is under-rated. Though, it’s underrating does not hide the benefits of it.
If you are one who is running an eCommerce site, then stick to this blog. We have covered some benefits to this method. And, there are some challenges that you may while directing it.
Let’s get started.
What Are The Benefits Of Time-Limited Promotion?
You might be surprised to know that Time-Limited promotion has numerous benefits for the eCommerce website.
- Lure The Customer’s Eyes
When a customer visits the site, they seek for the offers. And at that moment they strike with the limited period offer and do not want to resist themselves to purchase it. And the best part is that the customer does not get enough time to make a choice.
If they like it, then they can buy the stuff without any second thought.
- Increase in Sales
Everyone who surfs the internet wants some best deal, and if you fail to give them, then you lose the selling opportunity. But, with this limited offer method, one can sell the thing by providing a special discount.
Here, you are offering something, and it amplifies the chance to sell a product. Once the visitor turns into the buyer, then it eventually boosts the company’s revenue.
- Engagement Rate Enhance
If you are not offering anything over the product, then the customer may leave the site. And it may happen they visit some other eCommerce sites. It is a disheartening thing for any business person, and the reason behind losing the customer is “Low engaging rate”.
But! With the time-limited promotion, you are successfully retaining the customers. And it ultimately provides benefits to the ranking of the site. More rank means more visitors.
- Helps To Make Better Investment Planning
For small businesses, investment plays a crucial role. They cannot make a massive investment at once. If they notice the growth, only then they can think about the huge outlay. In this method, you must have seen that sales are rising exponentially.
So, it facilitates the owner for further investing. However, arranging funds may be challenging, but options, like Loans. Many flexible direct lenders offer loans for bad credit with no guarantor on benefits too. Such an opportunity can aid to some extent, and help the company to grow fast.
These are the typical advantages of time-limited promotion. Now, there are some obstacles that you must have to encounter.
Let’s talk about them.
Challenges of Directing Time-Limited Promotion
There are a few confront that may bother you. But you can easily manage them.
- Need Extra Cost
For providing offers or promotions, you have to spend a lot. There are certain things, like:
- Promotional gift card
- Visitor’s cart
- Highlight the process
- Providing discount
These may introduce some costs. And you have to advertise yourself so that the number of people can know about you.
- Time-Consuming Process
To sell products, you have to cross three levels:
These three parts are time-consuming. And, what type of advertisement mode (Offline or Online) choose also decide the time. It clearly shows that you have to plan so that you can get the customer fast without affecting the company’s growth.
These are the two limitations that you can quickly deal with if you plan. Now, you must have realized the importance of Time-Limited Promotion in the e-commerce market. Nevertheless, it is time-consuming, but the result is fruitful. So, go ahead and use this fantastic method to boost sales and retain potential customers.