S A L E – That one word every customer loves!
How do we know? Because when retailers offer significant holiday discounts, that is the day they make the maximum sales.
But customers don’t only shop during the holidays. So you can offer deals and discounts throughout the year. And earn more revenue.
But first, you need to do your homework. Only then can you make offers that meet the demand of your target audience.
Sayed Ahmed, co-owner of iTechshark, states the importance of knowing what the customer wants and how it was beneficial for them.
“Why do you need to buy this specific computer? What is this computer going to help you with? Not the specs, not the numbers, not the metrics. It’s about the benefit of buying something from you, or visiting your store. And the difference here is that each product or each solution that you provide is catered for a specific customer”.
Such understanding is fundamental to making targeted offers. And you can easily do that through your repair store software. Here is how you can do that:
· Collect Your Customer’s Data – While booking repair jobs for customers, you must have taken down information such as addresses, contact numbers, email addresses, etc. Such information will come in handy for sending out offers to them.
· Find Out Which Products are Top Selling – Having a list of top-selling items will come in handy when you want to create bundle offers.
· Find Out Which Products are Not Selling – This list will enable you to see which items are not selling and taking up your inventory space. Thus, you can sell them at cost price or in bundle offers with top selling items.
Now decide on offers. We understand that coming up with new offers month in, month out can be challenging. That is why we have suggested the best sales offers to inspire you to meet your annual sales target.
1. BOGO (Buy One Get One Free)
Customers are always attracted to offers where they pay less and get more. It’s because they feel more comfortable spending money when they see a deal they usually won’t get.
This is where the ‘Buy One Get One Free’ offer comes in.
Offer two products that are in demand at a reduced price for a limited time. The time limit will create a sense of urgency that will ultimately boost your repair shop sales. It will also help clear inventory items that are not selling. Or you can unload inventory items while still keeping your profit margin. For customers hesitating to buy, BOGO deals nudge them in the correct direction.
The best part is that BOGO deals rarely cost anything and can help you increase revenue.
For instance, you give $3 for a cell phone back cover, and you sell that for $10. If you provide a 50% discount on it, you will make a $2 profit with just one sale at that discounted price. However, the ‘Buy One Get One Free’ offer means you can sell an item at the exact price minus the cost for two items. So, you will earn $4.
With more customers availing the offer, your profits will increase. So, if you want to sell out some of your inventory stock, the BOGO offer is a solid option.
2. Bundle Offers
Product bundles are among the most underutilized tactics in the repair industry. The reason behind it is quite unclear. After all, bundles are an incredible tool to:
- Increase the average value of the order
- Get rid of dead stock
- Give convenience by enhancing the customer experience
- Create an excellent way to personalize your repair store
So, create a bundle of products or even services through your repair store software into a package to entice people to spend more. These inventory bundles are a perfect opportunity to upsell, and you can give bundle offers throughout the year.
For instance, you can create bundles of tempered glass and back cover along with every screen replacement. This way, you are offering the products at a discounted price if the customer agrees to purchase the bundle. The customer gets more than one thing at a discounted price, and you get to earn more money on each bundle sale.
Robert Miranda, a consultant at Cell Phone Repair (CPR), shares his experience with bundle offers and how well he did.
“We did a bundle package for $35. It was a charger, a case, and a screen protector, and that was probably our best bundle ever”.
3. Back To School Offers
August – September is the time when schools start opening again after the summer break. This is the right time to hit the nail on the head with your back to school offers.
The beginning of the school year is usually hectic, and students are generally getting their devices fixed and protected. So if you start giving ‘Back to School’ offers at that time, you can tap into some extra revenue.
Now you must be wondering what you can offer to the students as part of your Back to School Offer. You can set a discount on device repair as well as device financing. The amount of discount also might vary if your repair shop is a franchise.
Nevertheless, you can either give a fixed discount on any product and service or offer a discount on an added product or service. For instance, a customer comes in to get their laptop and iPad repaired. In addition, you can offer screen protectors at discounted prices as part of the Back to School offer.
Robert Miranda sheds light on another type of discount that you can offer under your Back to School Offer.
“So like for the B2B, contacts that we’re doing business with, they have personal phones, and they have, you know, all the workers have their personal phones. So, anyone who’s associated with that organization, we extend that 10 or 15% off to them, and they can still get that discount with their devices”.
We suggest coming up with newer and better promotions for schools every year to keep the element of surprise alive while giving value to the customers.
4. Flash Sales
A flash sale is when a store gives substantial promotions or discounts for a limited time. The main aim of a flash sale strategy is to make the online shoppers do one of the following:
- Impulse buy
- Increase short-term sales
- Sell your extra stock
- Offer items on cost price
- Sell items available in limited quantity
For instance, you can use your repair store software to offer flash sales on upcoming device accessories, etc.
5. Entrepreneurial Week
November brings the famous and highly anticipated entrepreneurial week in over 180 countries.
Have you ever thought of leveraging its popularity?
If not, then you should.
Your repair shop can use this as an opportunity to make an offer to aspiring potential entrepreneurs and increase your revenue.
For instance, offer a special discount on products and services for their computers, iPods, tablets, cell phones, smartwatches, etc. Make the discount applicable to the attendees of the entrepreneurial week.
For instance. Smartphone Medics offered a discount of 50-70% as part of their Small Business Saturday Offer.
Thus, it will also position your repair shop as a brand that is helping aspiring entrepreneurs achieve their dreams.
6. Seasonal Offers
Seasonal offers convey urgency because they are available for a set time only. Think of special products and services that can sell more. Introduce seasonal offers for winters, summers, etc., all based on the specific needs of that season.
For instance, winter brings in the much-anticipated snow in some countries along with Christmas. For that, offer snow-themed or Christmas-themed back covers at a discounted price for all devices.
Similarly, in summers, people spend a lot of time in the water relaxing. So, offer discounts on waterproof pouches and water damage.
You can also get some inspiration from your competitors. Analyze what they are doing well and what is not working for them. Then, come up with a strategy to do things differently and better. Remember, creativity is the key to seasonal offers. The end goal is to entice the customers to purchase products and services.
Other than promoting your offers in your repair shop, optimize all your platforms. Such as your repair store software customer-facing display (if you use it), social media channels, and websites with the same seasonal colors and images to follow uniformity.
In addition to this, also give seasonal gift cards to your customers. One of the best ways to use gift cards is at the beginning of each season. If a customer has no idea what to give to a friend or family member, they can load a gift card with a specific amount and gift it. They can then come and purchase products or services at your repair store and pay with the gift card.
7. Green Monday and Cyber Monday
Green Monday is one of the biggest shopping days in December. It’s the second Monday of December. That is when customers realize that they only have 10 shipping days left before the Christmas holidays. Similarly, Cyber Monday is another famous shopping fiesta that falls on the first Monday after Thanksgiving.
Repair shops can also tap into the trend by promoting their must-have products and services before the Christmas holidays begin. You can also leverage Cyber Monday by offering exclusive discounts on your products and services.
For instance, you can give big discount offers of up to 50% on items that have a huge profit margin. Such big discounts work well on microsoldering as it has huge profit margins. It will help attract more customers.
8. Used Product Offer
If your repair store software has a trade-in or buyback module, then this kind of offer is just the right choice for you. Believe it or not, buyback and trade-ins allow you to make good money.
For instance, you can upsell by allowing repair shop customers to upgrade their devices by trading in their old devices. Similarly, the buyback module will enable customers to sell their damaged devices, which you can refurbish. Then, you can sell them for a profit. Both ways, you will be able to score a sale and earn a good profit margin.
9. End of the Month Fire Sale
It’s the end of the month, and your repair store has not yet achieved its sales target. This is where the ‘End of the Month Sale’ comes in handy.
For instance, you can put the less popular products or services on sale. Or the other way is to put the most popular items or services on sale to achieve your sales target quickly.
10. Referral Discounts
Want to increase your repair shop revenue through offers and at the same time get new customers?
Referral discounts are the right way to go about it.
Referral discount is exactly what tips a potential customer to buy something, mainly when their friend’s or family’s recommendation backs it up. In addition, it’s an offer that you can give through your repair store software throughout the year.
For instance, you can give a referral discount of 20% to the person referring to your repair store and the person coming in for their first purchase. Thus, you will be able to make more sales through one customer.
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Although these unique offers are vastly different, they have a crucial component in common. They add value to the customer while allowing you to earn more revenue. So, make sure whether it’s monetary discounts, referral discounts, gift cards, or something else, your offers are adding value to the customer.