My girlfriend is a big fan of Nespresso coffee, which pretty much means that I have become a big fan of Nespresso coffee. We ran out of capsules the other day so I went to Nespresso to buy some and while I was there I got an iced vanilla café. Now, the reason I got the iced vanilla cafe is because as I was checking out, they gave me a special offer. With an in-store purchase, I was eligible for their special offer of 25% off any idem from their café. That sounded pretty good so I decided to try the iced vanilla café coffee (which is very tasty, by the way, and I do recommend).
Why would Nespresso be giving me 25% off something from their café? Well, Nespresso knows that they have to accomplish a couple things: they have to cross-sell the other products that they have because I might not be aware they even have them, and they know that if they give a special offer, they're going to increase the conversion rate of their customers buying and trying something new. So not only do I buy something else from Nespresso but it also gives me a taste of one of their new products. Guess what? If I like that product there is a potential I will come back to buy more even if they are regular price! This one simple activity, a special offer, both increases their conversion rate as well as increases the number of transactions for their customers. Both of those activities result in Nespresso making more profit!
So what's your version of the 25% off coupon for other products and services at Nespresso? How can you incentivize your customers to try out some of your products? If you can't figure that out contact us and we will definitely help you out.
We offer complimentary 2-hour strategy sessions (a $2000 value) for businesses that want to look at opportunities in their business. We can chat briefly about the details of that session to see if it would be beneficial for your business.
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