Black Friday comes with huge discounts on Top brands to encourage their customers to purchase. Every company has different marketing strategies to boost their sales during the Black Friday week. some companies offer huge discounts, some companies offer free shipping, and others have their own ideas to grow their sales and revenue during the time of Black Friday sale.
But in this guide, we will discuss the Simple Marketing strategy that generates millions of revenue for Hostgator. Hostgator is a popular Web hosting provider company. Hostgator Offers Different sales for the Black Friday and Cyber Monday Sale week. as you can see in the ScreenShot below:
As you can see above, Hostgator offers Different sale Timings and discounts during the sale week. But How Hostgator generates millions of sale revenue during the week of Black Friday and Cyber Monday?
The Marketing Behind Hostgator Black Friday and Cyber Monday Sales?
1. Huge Discounts
Black Friday Means Huge Discount:)
Offering discounts on Products is a way to quickly draw people into your store. Anytime you tell a customer that he can save money, you’re likely to get his attention. Discounts don’t only help your shoppers; they also help your business. From increased sales to improved reputation, discounts maybe that one ingredient that can bring business success.
Because people prefer buying things on sale, discounts serve as a ploy to attract more Customers for Hostgator.
If your discount is only good for a certain amount of days, mention that when you advertise the discounted items. People are more likely to rush in and look around if they know they only have a few days to do so. Your store will experience more traffic, so you may need to schedule more employees during the discount period so service is smooth.
With increased traffic typically comes increased sales – and not only the discounted items. Because discounts attract more people, Hostgator have more potential buyers for other products too. For example, if your clothing store discounts your entire jeans selection, people will go to your store for the discount but also may buy other clothing items or accessories, such as jackets, shirts, and belts.
Successful marketing strategies focus on changing the way target audiences behave. To do this well, marketers need to understand how people think. It’s no wonder, then, that the most effective marketing principles have their basis in psychology. One of the most relevant psychological principles that can be applied to eCommerce is urgency. And Hostgator Creates Urgency With These Sales
Let Me explain you More about Urgency;
How urgency influences behavior
When a task is urgent, people are more likely to act on it. Interestingly, this is even the case when the sense of urgency is artificially created.
Five experiments in a 2018 study showed when unimportant tasks are characterized by spurious urgency (e.g. an illusion of expiration) people are more likely to perform them over more important tasks.
This psychological principle is called the “mere urgency effect”. Marketers in eCommerce can use the mere urgency effect to prompt people to act. Click that button. Enter those card details. Make that purchase.
Why is urgency important in eCommerce?
In the digital age, customer journeys are complex. The buying process meanders between multiple channels and devices. It’s rarely linear.
What’s more, the journey to purchase is often lengthy. With such a breadth of choice and range of prices, customers may take days, weeks, or even months researching options.
Adding elements into the customer experience that create urgency speeds things along. It pushes those considering buying to do so now, to avoid missing out.
Strategic use of urgency triggers purchases from impulse and frequent buyers. It can even generate demand that leads to sales that may not have otherwise happened.
The law of supply and demand states that a low supply and high demand for a product will typically increase its price.
Why am I telling you about basic economic rules? Because changes in the supply and demand of products can result in the scarcity principle coming into play.
This psychological principle of persuasion coined by Dr. Robert Cialdini means the rarer or more difficult to obtain a product, offer, or piece of content is, the more valuable it becomes. Because we think the product will soon be unavailable to us, we’re more likely to buy it than if there were no impression of scarcity.
Brands like Hostgator use the scarcity principle to persuade people to Buy their Webhosting As Soon As Possible.
Huge Discounts, Urgency, Scarcity helps Hostgator with the reputation. People love discounts and In the results, they love to buy Hostgator hosting. Scarcity and Urgency make Hostgator more rememberable brand to their Customers. And If People remember you then they will definitely buy from you again in the future…