What’s better, 50% Off Or Buy One Get One Free? Video Transcription:
Thomas Green here from Ethical Marketing Service, today I wanted to share with you a test which was reported on within a book called “Successful Direct Marketing Methods” by Bob Stone.
Within the book the following offers were tested:
- Buy one get one free
- 50% Off
- Half price
And the result was that the buy one get one free offer beat the other two by over 40%.
The reason I wanted to share this with you is, whenever I see offers on most business websites, it’s normally a percentage off (often 10-15%) and normally in exchange for joining a newsletter. You may have seen this offer too.
So this particular offer could use some work, but If you know the result of this test, you know that generally speaking a percentage off, gets a worse response than adding something of equivalent value for free with each purchase.
If you have a business where it’s possible to give something away when someone makes their purchase, that is a better offer than just giving a percentage off.
Also there is a logical aspect to this, if you are selling products, and choose to offer buy one get one free, you are actually shifting two products rather than one with every purchase, so not only do you get a better response, you sell more items this way.
There are some things to remember with your offer, a valid reason why is important to add while you are making it – if you are doing buy one get one free, the prospect want to know why, the offer should be clear because a confused prospect won’t respond, a guarantee of some form helps, and genuine scarcity with a deadline makes a big difference.
If you can’t offer buy one get one free on a particular product or service due to margins, you might add buy product A and get product B for free, and product B might be something which is valuable but isn’t quite as expensive, it’s a slight variation, but can still work well.
Hopefully this has been valuable to you today and you can apply it to your business, if you have any questions or need any help you can visit us at ethicalmarketingservice.com and I’ll speak to you soon.