For every business, the promotions work as one of the most successful strategies to boost sales. By reducing the original cost of a service or product for a limited period of time, the sale of an item can be increased significantly.
There are many people out there who are low on budget or wait for offers and promotions to purchase the services. Many businesses offer product promotions, especially at the time of launch. This helps in marketing the product and attract customers.
Along with promotions, you can also provide coupons to avail some discount on a certain product till the specified date. These coupons can be sent or shared to people through newspapers, magazines, emails, or phone numbers.
Benefits of promotions and coupons
There are several advantages of promotions and coupons. Such as:
Increase customer traffic
By offering promotions and coupons, you can increase the number of customers. This is a great way to attract the customers that are budget-conscious.
Increase value-perception
When you show your customers that you are selling a product or service at lesser than the actual price, then it creates a psychological weight on their mind. For example, imagine a $50 product having a red flag that it is being sold at $30 currently.
This strategy definitely works for every business and marketer. It makes customers think that the item is available at a cheaper price.
Grow your revenue
If you want to increase your revenue and enhance cash flow in short period of time, then promotions and coupons are the ways to go for. More people will buy your services or products and become customers.
Retain customer loyalty
When you reward your existing customers with coupons, they get encouraged to make more purchases from you. This not only helps you to drive sales, but also makes your customers feel that you remember them and are a reliable service provider.
Creating a new promotion in WHMCS
WHMCS allows you to offer discounts on products and services, product addons and domains. Follow the steps below to set up promotions in WHMCS.
- Go to Setup > Payments > Promotions.
- Find ‘Add New Link’ at the top of page and click on it.
- Now enter the promotion code that can be used by customers to avail the discount on order.
- There are four types of promotions in WHMCS—
Percentage: Customers get a discount on order based on percentage. For example, if you set 20% discount, then the total on order will be decreased by 20%.
Fixed Amount: Customers will get a specified discount on the original cost of product. For example, $5 discount on order.
Price Override: If you want to provide a constant discount to customers across multiple billing cycles, then this option is the one for you.
Free Setup: Customers get discounts on any setup fee from the existing price of product or service. - There is checkbox named Recurring. If you want to offer promotion only on the first invoice, then let this checkbox remain unticked.
- In the Recur For field, use 0 if you want to offer the same promotion on renewals of the service. If you want to offer discount on limited renewal cycles, then enter the number as required.
- Enter the discount amount in the Value field there. This should be a number only.
- Now, choose the products, addons, or domains on which the promotion is applicable. Also specify the billing cycles or registration periods for the items.
- You will also find fields for start and expiration dates. Use these fields only if your coupon starts at a specified date and expires at another date.
- In the last four checkboxes, you need to specify the person who can avail the promotion.
New customers: The people who are purchasing for the first time can avail this promotion.
Apply Once: If a customer orders several products, the discount will be applied only once.
Existing Customer: The customers who already have one or more active services, can avail the promotion.
Apply once per client: If someone has already used the promotion, they wouldn’t be able to use it again. - Finally, enter the information related to the promotion in the admin notes section.
When you are done with the above fields, click on Save Changes button for activation of promotion.
Types of promotions in WHMCS
- One time discounts
- Recurring discounts
- Limited recurring discounts
- Monetary discounts
- Percentage discounts
- Price override
- Free Setup
- Applicable to specified products and services
- Applicable to specified billing cycles and registration periods
- Applicable only once per order or to all the related items in cart
- Lifetime promotion
- Applicable to new customers only
- Applicable to upgrade orders only
Suggested reading: How to configure Tax and VAT in WHMCS?
Wrapping up:
Whether it is a Black Friday, a Cyber Monday, or any other such occasion, you can make the most of your business using the right promotional strategy. You can easily convince visitors on your website to purchase your products and services and turn them into customers.
What are your plans to drive revenue growth? Which type of promotions you are using or planning to use for your business? Let us know via the comments section below.