Chances are, if you have been following our PriceWaiter U series, you’ve been doing all you can to maximize the conversion potential you have within the PriceWaiter system.
We’ve got a ton of different tools and settings available to help you sell more, and one of the most powerful tools also happens to be one of the easiest to use!
Getting Started with Offer Expiration
First things first: Offer expiration is a feature available in our premium suite. If you are currently using our free platform, you can easily upgrade and receive instant access to all of our premium features such as offer expiration, exit intent technology, and all automation efficiency tools. Click this link to get started with a risk free 30 day trial.
Offer expiration allows you to limit the time for which an accepted or countered offer is valid. For example, if someone makes an attractive offer on a Wednesday, offer expiration allows you to accept or counter that offer, but only allow the shopper to receive the discount if they make the purchase by Saturday.
As any savvy retailer knows, time limitation is a powerful incentive to make shoppers pull the purchasing trigger. Almost every coupon, sale, or special promotion is finite in length, and the time expiration is the key element of the sale that makes it effective.
Adding a time limitation to a shopper’s accepted offer is the nudge needed to push them to convert, and the numbers fully back this strategy.
Additionally, a time limitation insulates you from the risk of running out of inventory or other issues that arise from scarcity of supply.
Accepted offers that are bound with a time limitation are 22% more likely to convert than offers that are indefinitely valid.
When considering a significant volume of offers, this differences in conversion rate can make a huge difference to your bottom line. This revenue difference you will experience can more than pay for the cost of our premium services!
If you’ve got any questions, don’t hesitate to drop us a line.