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What are the benefits of offering discounts and promotions?
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[QUOTE="King bell, post: 301767, member: 75687"] Offering discounts and promotions is a great way to attract new customers and show appreciation for existing ones. By providing an incentive for customers to shop with your business, you’ll be able to boost sales, create loyalty and increase customer loyalty. There are several key benefits of offering discounts and promotions that businesses should consider. One of the primary benefits of offering discounts and promotions is that it brings in new customers. By providing a discount or promotional price, customers will be more likely to purchase from your business as they’ll see a bargain or incentive to buy from you. This can result in increased sales as well as creating loyalty among those new customers who now have discounted access to the products or services offered by your company. Discounts and promotions can also help create repeat business from your existing customers. Loyalty schemes such as points systems or exclusive discounts for returning customers will help ensure that those who have already bought from you are incentivised to do so again, allowing you gain their long-term loyalty. Additionally, a further benefit of offering discounts or promotions is that it can help boost your brand presence online or in print advertising campaigns. Using attractive offers means more people will be drawn in by the appeal of a discount, potentially leading them back to your website where they can become familiar with your brand values, product range and promotional opportunities – resulting in increased customer conversion rates. Finally, another benefit of offering discounts and promotions is that it enhances customer engagement with your brand overall – both before and after they’ve received the discount itself – meaning they may share their positive experience with friends via social media or word-of-mouth referrals; all helping increase recognition of your brand. To drive further success on this front, reward returning shoppers with exclusive discounts via email newsletters which also serves as additional exposure for any future offers you want to promote through marketing campaigns. Overall, offering discounts and promotions as part of your business model can provide serious benefits such as attracting new customers, creating loyalty among existing ones promoting products/services, driving referrals/Social media feedback encouraging people to share personal experiences with others; all leading towards improved growth prospects for the company overall! [/QUOTE]
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What are the benefits of offering discounts and promotions?
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