Coupon boxes are a great way of improving your conversion rate. But obviously, giving away a discount to every customer has a cost. How can you boost your sales without leaving too much money on the table?
The Little Secret to Optimize your Sales
We've been running high-performance coupon boxes on hundreds of stores, measured the impact on conversions, analyzed tons of data and came to this simple conclusion: Knowing the physical location of your customers is the key to running the optimal sales campaigns.
And there are good reasons for that:
- The degree of competition vary a lot from one city to another. Think about local retailers.
- The standard of living vary as well, even within a single country. Think income inequality.
- Online shoppers hate shipping costs! They won't buy outside of their region without a good reason.
The secret is to run geo-targeted sales campaigns, with a dynamic coupon box that only shows up on your store for customers living in specific physical locations.
Geo-targeted sales campaigns usually bring you twice as much revenue than the traditional one-size-fits-all promotions. It is a fantastic sales booster, it's fun, and it even makes the world a better place!
Optimize your Geo-Targeted Sales Campaigns
With Darwin Pricing, you can run geo-targeted sales campaigns on your store for free. Forever. But mastering the art of geo-targeting is a real challenge. To boost your profits from day one, we offer you the services of a dedicated pricing manager, who will monitor your competition and optimize the geo-targeting of your sales campaigns in real-time.
With the right discount offer in every city, you can easily increase your revenue by +50%, +100% or even +150%! Hundreds of stores are already using this technique and boosted their profits after only a few weeks of optimization.
With our expert knowledge and an extremely powerful tool box, we will ensure your success even in the most competitive markets. We leverage the power of geo-targeted sales campaigns by using real-time competition monitoring, dynamic split testing and artificial intelligence, and will make sure that you'll always stay one step ahead of your competitors.
- As a starting point, we are using both pricing intelligence data about your competition and economical data to adjust your discounts. We are using for instance consumer price indexes to adjust your discounts within the US, and GDP per capita at purchasing power parity to adjust your discounts internationally. This initial sales optimization step will already boost your profits from day one – and this is only the first step.
- We will also start running coupon split tests from day one to observe the price sensitivity of your customers. While most of your customers will see the optimal discount according to their geographical location, we will show slightly higher or lower discounts to about 20% of your customers and measure the impact on your sales performance.
- As soon as we'll have gathered some price sensitivity data, we are going to use statistical analysis and AI algorithms to find out the optimal discount in every location – in every country, in every state and in every city. We are also analyzing geographical patterns in the price sensitivity data in order to infer the optimal discount in locations with little traffic.
- As soon as we have measured the optimal discount in a specific location, we are switching to a monitoring mode. We are serving the optimal discount to all customers in this location, and only try out variations on a small sample of visitors. This allows us to observe and follow the evolutions of your market very closely.
When our machine learning engine has reached its cruising speed, we will share insights from the analysis of your sales data and provide you hints towards business development opportunities. For instance, if you are able to reach a few cents of profit per visitor in India with the optimal sales geo-targeting pattern, you have a great opportunity to buy cheap AdWords traffic and generate profitable business. More generally, you will be able to optimize the budget allocation of your CPC campaigns and target geographical areas that are driving the highest profit per visitor.
Hundreds of customers are relying on our services already and have seen their sales take off with an increase of +50%, +100% or even +150% in revenue with our proven methods. Don't leave anything to chance: Take the path of success, the science way.