By David Hoos
6 minute read | Last Updated: March 8, 2018
Here’s your comprehensive guide to limited time offers – why they work, when to use them, and how to implement today.
Consider the power of the limited time offer.
It’s time for a new computer. You’re at Best Buy, standing in front of a model that has every feature you want, and it’s discounted by $300. The store is about to close, so you decide to think about it and come back tomorrow. There’s plenty in stock. Then the salesperson says, “That price is only good for five more minutes. The special ends tonight.”
What do you do? Buy now and save a few hundred bucks, or keep looking? Chances are good the limited time promotion would swing you from prospect to buyer in hurry. It’s the computer you want, you’ve verified it’s an exceptional deal, why not end the search and take it home with you tonight?
As an ecommerce manager, you know the importance of getting visitors to hang in there all the way to final payment. Statista puts the current global average for cart abandonment at 77.3 percent for retail.