discounts

Do Voucher Codes Increase Trade?

A lot of large companies these days are deciding not to allow voucher code websites to promote their brands, however by doing this they could be doing themselves more damage than they realise. It is true that not all companies want to be associated with ‘discounts’ as they feel that it devalues their brand, but in a time when people are increasingly looking for good value with every single item that they buy, alienating the public is probably not the best way to go about things.

Having started in the USA around ten years ago, the discount code phenomenon quickly spread all over the world, and retailers were very quick to capitalise on them as a great way to promote products to the public. When a store issues a voucher, if the big voucher websites like Fliggo promote it, they can expect to see a large amount of traffic coming to their site, but does this always go on to increase trade?

The answer is that the increase in trade will vary from merchant to merchant. Some retailers such as electronics stores are likely to see a large increase in sales as they are offering discounts on branded products that everybody is familiar with. However, smaller independent stores and boutiques offering clothing or gifts may not see quite as large an increase because people are not yet familiar with their products.

deals

The benefit to these type of businesses has to be measured in a different way as they are gaining exposure to their brand that they would otherwise not have received. They may not see an instant increase in trade and sales, but over time, people may return to them having gown familiar with the brand.

For some businesses, vouchers are the primary channel through which they interact with the public. Large stores such as Currys and PC World, issue thousands of codes each year with different ones for each individual product. Other stores choose a more generic approach and have one or two different codes which will last for a longer period and give the user between 5% and 20% off store wide typically.

Selecting the right type of offer for your business to promote is essential to its success, and often the best way to decide what to do is to copy what your leading competitors are doing. They will have gone through the trial and error process and decided on the best promotional method, so you can take a short cut and do exactly the same.

 

trade show

The Benefit of Attending Trade Shows

If you have never attended a trade show for your particular industry then you could be missing out on meeting valuable contacts and making some very useful connections. Trade shows are not just about people selling their latest new products, they are also about networking, and this is something which is hugely important when you are in business. What ever industry you operate in, there will be a trade show of some kind that you could attend. In more niche markets, the show may not be a huge event at the O2 in London, however, each weak people get together up and down the country to discuss their particular line of work. Continue reading “The Benefit of Attending Trade Shows”

e-commerce

Five Ways To Increase Online Trade

If you have been trading online for a few years and have struggled to get as much out of it as you would like, you are not alone. Many people hastily set up an e-commerce store and expect the sales to come naturally, only to find tat the results are not quite as they had hoped. There are many reasons for this but the main ones are normally underestimating the strength of competition online and not adapting to new marketing methods. Just because a business is successful offline it does mean that it will automatically be a great success when it goes online. Here are five ways that you might be able to start increasing the amount of trade that you do online in the future. Continue reading “Five Ways To Increase Online Trade”