Offers and incentives can be an excellent approach to replenish the 5% – 10% of your customer base that every small to medium-sized firm loses each year. While the profit margin may be slightly lower at times, offers encourage repeat purchases from existing consumers and attract a new group of loyal clients, which is incredibly profitable in the long run!

Here are 20 unique offer ideas to generate social media buzz, get your consumers talking, and, most importantly, generate extra revenue!

1) Get One Free When You Buy One

We all use these offers, which are usually used for low-cost products rather than services and are frequently employed by huge corporations such as ASDA and Morrison’s, who sell in vast quantities at low prices. It has been demonstrated that the ‘BOGOF’ offer performs considerably better than the ‘50% off’ offer.

2) Competitiveness

When promoting high-priced goods and services, the larger the reward, the more individuals will enter the competition. Many travel businesses, for example, offer the winner a free vacation, other companies such as B&Q or DFS offer the winner a free fitted kitchen or an expensive sofa set.

3) Completely Free Delivery

Companies that provide delivery services use this term. This is very important for quick food restaurants and even major corporations like Tesco. Surprisingly, this provision is becoming increasingly popular on e-commerce websites such as eBay and Amazon, where clients may shop online and have their purchases delivered directly to their home.

4) Gift Cards

Vouchers can be used to give the receiver a cash discount on a product or service, or they can be used to claim a free present.

5) Discount Of Ten Percentage

This offer is especially appealing when selling a stale product or when the market for that product is in decline or has flattened. It’s also a good idea to give this based on the demography, such as companies that offer student discounts since they have less disposable income, or clothes retailers that offer discounts because they cater to younger customers.

6) Reward Cards

With the rise of fast food chains and low-cost restaurants over the last decade, loyalty cards have become extremely popular. Companies such as Nando’s, Starbucks, and Subway have benefited greatly from the adoption of loyalty cards.

7) COMPLIMENTARY WORKSHOPS

Excellent for businesses that offer product training.

8) Discounts For Students

Student discounts have been used successfully for many years, and they are especially beneficial for high street businesses that students consider to be “in vogue.” Many retail, fast food, restaurant, social enterprises such as cinema firms, and online stores and businesses offer student discounts ranging from 5% to 20% in order to attract one of the UK’s greatest spending populations.

9) Get A Free ‘X’ If You Purchase Before ‘Y’

Can be beneficial for businesses such as gyms or other monthly paid membership providers. Gyms, for example, can provide a free personal training session with every membership sign-up.

10) Free Trial/try Before You Purchase

Often utilised because the customer does not fully trust or understand the product, therefore the company offers them a trial period to demonstrate the benefits of owning it so they may buy it later. Free trials are very popular with companies that sell high-priced products or provide software for computers and other technology, but they also work very well for food and beverage products – tasting a free sample often leads to a purchase.

11) GET ‘X’ FOR FREE WHEN YOU BUY ‘Y’

This offer has been used successfully by vehicle companies for a number of years, and most businesses now include a free year of insurance with every car purchase. This incentive has also been used by grocery chains with a gasoline component to their operations. For example, many supermarkets provide fuel discounts based on how much their customers spend on other things in the store. This offer can be a terrific method to gain new clients or steal customers from your competitors because they believe what you’re offering is more value to them.

12) Loyalty Points

This promotion is excellent for encouraging repeat purchases. Tesco is one corporation that is likely to be the king of this deal. Tesco led the road for this offer’s success, and since then, businesses such as Boots and other industries such as airlines have implemented a points incentive system.

13) RISKY REWARDS

This reward is fantastic for keeping your clients satisfied! Most businesses make the mistake of focusing all of their efforts on acquiring new clients while neglecting the ones they already have who are spending money. Vodafone is particularly adept at this; they provide excellent prizes to their dedicated consumers, such as free football tickets or F1 days.

14) Money Back

Many businesses now provide cash back as an incentive for customers to shop with them. This offer is only really relevant to shops and high street retailers, but it can be a motivator for a customer to shop with you instead of your competitors.

15) Gift Cards

Gift cards can be a terrific method to bring clients in the door, especially during the holiday season. For example, one of the ideal times to use gift cards is around the holidays, when families exchange gifts. If a consumer is unsure what to get a buddy, they can simply put money on a card and present the card as a gift. It’s a fantastic approach for businesses to keep their customers!!

16) Package Offers

You can make a ‘package’ out of a combination of items or services to entice people to pay more than they would otherwise. This offer is especially common among vacation firms, which, instead of selling flights and hotels separately, combine them into a package and sometimes offer discounts to consumers who do so. Another example would be restaurants that sell packaged’meal deals,’ in which customers can buy a sandwich and receive a drink and a bag of chips for free.

17) Make A Guarantee

This offer may be particularly appealing for technology, vehicle sales, and other high-priced products/services. High-priced goods have a wider margin of loss for a buyer if the product is incorrect, thus most people are more cautious when purchasing items such as laptops, washing machines, tablets, cars, mobile phones, and so on. If, on the other hand, a corporation offers a money-back guarantee, such as “if the product becomes faulty within the first year, you get your money back,” the client is more likely to buy since they know they have that safety net.

18) Better Payment Conditions

For example, ‘buy now, pay later’. Companies such as DFS, car dealerships, and high-end technology retailers such as Curry’s and PC World made this offer a huge success. Customers can take advantage of this offer by purchasing a product and either paying the whole sum a year or two later (with some added interest) or paying a fixed monthly amount. When clients are unable to pay the full amount immediately, this method works really effectively. You might provide conditions like pay on delivery, pay on results, or pay on completion for business-to-business products or services.

19) Complimentary Initial Report Or Consultation

This offer will help your consumers feel more at ease with your services; after working with you for an hour or two, their concerns about whether you know what you’re talking about and whether they’ll be able to get along with you will be alleviated.

20) Price Comparison

Because of the economic circumstances, companies such as ASDA have recently implemented this offer. It basically persuades clients since the company promises to pay the difference if they find the same goods cheaper elsewhere. Companies who sell low-cost goods can frequently exploit this because there aren’t many competitors who can match their prices.