What Works Best – Percentage Deal or Money Off Offer?




  • December 26, 2014

     

    What Works Best   Percentage Deal or Money Off Offer? image Percentage or money off USA

    Everybody loves to get a good deal. There is a real sense of achievement and joy when you are able to get something cheaper than the asking price – this is why we all love to see the word ‘SALE’.

    We are subjected to many different types of deals but is there a particular one that works best? Is there a science behind the irresistible deal? Or is it all just down to personal preference?

    The trick is to make the deal sound as appealing as possible so the customer thinks they are really getting a fantastic deal that is too good to ignore, and the trick in doing that might just be down to the wording…

    Introducing ‘The rule of 100′

    A simple rule that states anything over $ 100 should be a money off deal and anything below $ 100 should be a percentage deal.

    Research suggests that the science behind making an irresistible deal is all in the wording, and this rule will always make the deal as appealing as possible to your customers.

    For example…

    If we have a t-shirt for sale and we were to offer it with 20% off that would be more appealing than offering it with $ 6 off – even though the deal is exactly the same, our mind tells us that the percentage off deal is better value.

    What Works Best   Percentage Deal or Money Off Offer? image Percentage or money off2 USA

    However a car costing $ 3,000 with $ 600 off is more appealing than a deal of a car worth $ 3,000 with 20% off – again the deal is exactly the same however we feel that the money off deal is better value.

    What Works Best   Percentage Deal or Money Off Offer? image Percentage or money off3 USA

    Put phrases like ‘Limited time only’ and ‘Exclusive’ into your deal and you really should be onto a winner.

    This time of year customers are always looking for the best deals and with ‘The rule of 100′ you should be able to present your deals in the most appealing way to your customers.

    Now you just need to get their attention and at this time of year that can be a little tricky, I suggest you contact them through what they are probably holding in their hand right now – their mobile.

    Sending your customers a mobile marketing text can get your business the response rates that it has always been dreaming of – 98% of all texts get read (Cellit)


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