March 6, 2018
Woocommerce buy one get one free discounts or BOGO is one of the most effective short-term strategy existing. It gives a perception to the buyer that he is spending less and buying more.
Amongst all the different types of discounts existing, woocommerce buy one get one free or BOGO is the most appealing discount.
Matching up the right products to launch a woocommerce buy one get one free discount or BOGO can make your sales move like the speed of light.
Below we will be discussing the good and bad sides of woocommerce buy one get one free discounts or BOGO and how to use it strategically for quality conversions.
Benefits of Woocommerce Buy One Get One free discounts or BOGO
Using the woocommerce buy one get one free discounts or BOGO strategy comes with a lots of benefits for the seller. If the seller is able to create a compelling offer out of this technique, he will have more gains than loss. Statistics show that 93% of shoppers have taken advantage of buy one get one deals before. The AMG Shopper Panel also reported that 66% of customers prefer “buy one get one” deal to any other.
- Get rid of unmoving stock
Every online shop has a product that doesn’t easily gets sold-out. If a way of making people buy it is not found, it becomes a waste (of the product) and a loss( in terms of money) for the company. Imagine that on your online shop you sell beauty products. If one of your products that finds a hard time to finish are perfumes. You can say, anybody that buys a bottle of perfume will get a free pack of face make up set, or a set of lipstick or a set of brush.
- Increase average order size
Woocommerce buy one get one for free discounts or BOGO when used tactically, can drive your customers into buying more without them noticing. In return your stock flows out and everyone is happy!
- Increase customer loyalty
This is a great way to keep your customers loyal to you. They will always think of coming back to you because they know you have interesting offers that goes in their interest. Won’t you often buy from a shop that gives you cool deals? Yes? The customer will always consider that you are giving him a valuable deal, that’s how we boost and encourage a customers loyalty.
Disadvantages of buy one get one free discounts or BOGO
Woocommerce buy one get one free discounts or BOGO also has its bad side, nevertheless the good side outweighs the bad. Being aware of them will help you not to make the same mistakes.
- Giving the offer in the wrong margins
If you don’t target the right items on which to run a Woocommerce buy one get one free deal or BOGO, your margins will be affected and you will loose. If you take two 50% margin items and make one free, you are completely losing on one item. But if you take a 50% margin item and another 10% margin item which becomes the free item, then you are coming out ahead.
- Choosing the wrong 2nd item
Most customers will not buy into your woocommerce buy one get one free or BOGO deal if the second item you are offering for free doesn’t have any value for them. Therefore it is very important to match the right items, if not you will end up having an unsuccessful deal.
If for example on your online store you sell phones, gadgets and accessories. You could offer a free headset plus screen protector on every purchased phone. But you can’t sell phones and offer a keyholder or a mug as the free gift. Customers will not find a value in the offered item. Choose matching items for your deals and things will work out just right!
- Decrease in sales outside sales period
Everybody likes discounts and deals, if you offer so much of deals that your customers get used to it, they will only come to your online shop during those periods. There will be a decrease in your normal day-to-day sales. That is not a good thing for your shop. That is why it is better to balance your offers and to also tailor your deals mostly to loyal customers who will come to you whether you offer a deal or not.
forever 21 is an online fashion shop, and they offered a buy one get one free or BOGO deal on every product on their shop. To get more people to purchase an item.
Motherhood is an online shop that sells clothing destined for pregnant women and they offer the third item for free if two is purchase. This is also a great BOGO strategy for stock flow, but in this case it is a buy 2 and get 1 free.
Mypillow is an online shop that sells pillows, among numerous discount strategies they implemented, buy one get one free or BOGO is included.
Basically with a proper planning, strategy, season and advertisement, woocommerce buy one get one deals or BOGO can help boost your sales. It is a sure way to encourage or motivate customers to buy, it is even better when it is able to bring you new and loyal customers.
You might be asking for the best plugin to help you achieve this offer, the Woocommerce All Discounts plugin will help you sort things out!