Beginning online sellers can find marketing their online store confusing and difficult to navigate. Figuring out which promotional techniques can be elusive.
Well, here’s a freebie! One of the most effective ways to market your store is the “Buy One, Get One Free” deal. BOGO promotions are popular with both customers and sellers for a reason.
In this blog post, we will discuss what makes a successful “Buy One, Get One Free” offer and whether it will work for your business. We will also break down five different types of BOGO promotions that you can use to increase sales in your online store.
What Is a BOGO Sale?
BOGO (or BOGOF) stands for “Buy One, Get One Free”. It’s a type of sales promotion where customers get a free or discounted product when they purchase another product.
BOGO promotions are popular among retailers because they can increase sales of the products being promoted. Plus, it will attract attention to other items in the store, which is great when you need to move dead stock or boost sales.
BOGO promotions are also popular with customers because such deals are perceived as a great value. Some shoppers even search for BOGO coupons online before they make a big purchase!
Important note: you should generally run a BOGOF promo only during specific time periods. These deals create a sense of urgency, which pushes customers to make a purchase. A flash sale also doesn’t let customers get used to discounted prices.
Is a BOGO Promotion Right for Your Store?
BOGO promotions are a great way to increase sales and customer loyalty. However, they’re not right for every store.
Here are the products that make the best BOGO offers:
Items that need to be replenished. If customers like your product (like body cream), they’ll buy more at once to stock up. Products that compliment each other. For example, if you sell clothes, you could do a BOGO deal on shirts and pants. Products usable in two. You don’t want to offer two similar jackets, do you? Two pairs of socks for the price of one is more likely to sell. Items with at least a 50% margin. A margin is your profit after accounting for costs. If your product’s margin is 50%, then your sale is break-even. Try to include at least one product with a higher margin to come out ahead.
The total price of the deal should be the amount that customers are ready to pay. To be on the safe side, you can check out your average order value and aim for a little bit more.
5 Types of BOGO Promotions
Now let’s discuss the different kinds of “Buy One, Get One Free” offers that attract customers.
BOGO promotions can be very flexible. We are going to break down five different types of BOGO promotions that you can use to increase sales in your online store and share some BOGO examples for inspiration.
Buy One, Get One Half Price
If you have a bestseller in your store, this tactic will work great. A “Buy One, Get One 50 Off” deal will attract those who have been hesitating to try it. With BOGO Half Off deals, customers will buy more of your legendary product, love it, and come back again soon.
Buy One from Category A and Get One from Category B for Free
Pairing products from different categories is a great deal for seasonal products and targeted audiences. For example, students and their parents (Back to School BOGO).
The only condition to remember is that the second item must be of equal or lesser value. That way, you make above your profit margin.
Buy One and Get Free Samples
By giving away free samples, you allow your customers to test real products. Samples look like gifts, but you should also think of them like investments: they create a potential future demand for your products. Include exclusive samples of your new product line to introduce it to your customers.
This doesn’t just apply to physical goods: a great way to get more reads of your ebooks is to provide short samples. Samples are much less likely to be stolen, copied, or distributed illegally. Then if your customers love the content, they’ll return to buy the whole book.
Also read: How to Create and Sell an Ebook
Buy Three for the Price of Two
This is one of the most common variations of BOGO promotion. It works for many product types and looks like a very good deal. Remember to keep the terms simple: include items with similar prices—it will simplify perception and prevent hesitation.
Buy Item X and Get % Off on Item Y
This is an easy-to-implement tactic for industries with complementary products, sports, beauty, or electronics.
For example, you could sell a pair of sneakers and give a 30% discount on shoe cleaners. This type of promotion helps you sell out accessories and complementary products.
We’ve described the most popular types of BOGO promotions, but you can tweak them as you like to create the best BOGO deals for your store. Here’s an easy one: offer your customers to buy four products at the cost of three.
How to Run a BOGO Promotion in an Online Store
Now that you know what BOGOF is and how to best use it, it’s time for the practical part.
To set up a successful BOGO promotion in your online store, you need to make sure your ecommerce platform allows you to offer these kinds of discounts.
Ecwid by Lightspeed, for example, lets you run the most common types of BOGO promotions. Using flexible settings, you can create various BOGOF offers that follow the same idea: if a customer buys X units of some product, they can get one unit of a product (same kind, different kind, or any product in a category/categories) with Y% off.
To run a BOGO promotion in your Ecwid store, you’ll need to install the Buy One Get One Free: Sales Promotions app from the Ecwid App Market. The app offers a free trial, so you can give it a run and see if BOGO offers are right for your store.
Ready to set up your BOGO promotion? Follow these instructions to set up the app and create your first BOGOF deal in just a few clicks.
Ecwid by Lightspeed also has many other promotional tools you can use. These include automated marketing emails, discount coupons, advertising on social media, and so on.
Sign up for Ecwid by Lightspeed and get an online store that makes it simple to run any kind of ecommerce venture.
Best Practices for BOGO Promotions
Keep in mind the following practices to get the most out of your BOGO deals:
Time your BOGO promotions strategically. For example, run them during the holiday season or before big events like Black Friday. Inform your customers about the conditions of your BOGOF deals in advance. Choose the products carefully. Make sure they complement each other and appeal to your target audience. Don’t run too many BOGO promotions at once or your customers could get confused. Monitor your sales data and adjust your deals accordingly. For example, there is no need to constantly run BOGO offers for products that are selling well on their own.
Run Your First BOGO Promotion
BOGO promotions are a great way to increase sales, get rid of excess inventory, increase the number of items per order, and attract new customers. When used correctly, BOGO deals can help you reach your business goals and boost your bottom line.
Now you have everything you need to know about BOGO promotions, including easy-to-use tools to run your promotions smoothly. Use your newfound knowledge and take the Buy One Get One Free: Sales Promotions app for a spin!
The post 5 Effective “Buy One, Get One Free” Promotions for an Online Store first appeared on Ecwid | E-Commerce Shopping Cart.