Escalating fuel and food costs are driving consumers to tighten their belts on non-essential items. In fact, if you aren’t selling fuel or food, you may have to do some aggressive marketing to help consumers understand the value of the product or service you are offering.  When the economy lags, you and your web hosting provider must do everything possible to hang on to your existing customers and leave no stone unturned in your quest for new customers.

Many ecommerce sites have found that electronic gift certificates can be an effective way of acquiring new customers. When one of your existing customers buys a gift certificate for a friend, the recipient becomes a free and automatic customer acquisition.  When implemented properly in the online storefront, gift certificates can significantly increase your competitive advantage.  Consumers love to give and receive gift certificates because they take the guesswork out of gift giving.

Online stores like gift certificates – web hosting provider explains:

1. They require no inventory, overhead or shipping costs
2. They can be created and delivered instantly via web pages or email
3. They present opportunities for “up selling”
4. They are perceived by the customers as value added

If you choose to offer gift certificates, be certain that your customers feel secure purchasing them from you. Make sure your security policies are clearly stated on your web site. To get more bang for your buck, customize gift certificates so that they complement your other marketing tools, logos, etc. Studies show that personalized gift certificates that offer the option for a customized message are especially well received by consumers.

Besides gift certificates, there are other promotional offers that can help you woo consumers when money is tight.  Everybody is looking for a “great deal.”

The types of offers will vary based on the nature of your business. Have systems in place to carefully track conversion metrics so you will know if your offers are effective.

Web hosting provider lists some “special offers” to consider:

Free and fast delivery: Once a consumer clicks on the submit button they are instantly ready to receive the product or service they have purchased. If you sell tangible products, consider offering free overnight delivery.

Combination offers: Consider combining several products or services for a price that’s lower than the price of ordering each item separately. This can increase the number of orders you get and also increase the average dollar amount of your sales.

Coupons: If you don’t have a cash rebate or coupon discount program, consider adding one. Coupons have been proven extremely effective as a marketing tool for online stores.

Free gifts: Bear in mind that it is the perceived value, (not the actual cost to you,) that matters to the consumer. Offer free ebooks or reports on your site. When consumers visit your site to receive their free book, they will see everything else that you have to offer.

Deferred billing: This option can eliminate some of the customer’s concern about spending money “right now” when the economy is tight.

Make sure your special offer has an expiration date. Studies show that special offers are most effective when they have a deadline. “This offer expires on” creates a sense of urgency for a consumer who may be dragging their feet on hitting the submit button.

It has never been more important to differentiate yourself from your competitors. It is human nature to love a special offer and feel that we are getting a “deal” on the products and services we purchase. Make your special offers enticing and you can soar through the economic crunch with flying colors.