A few years ago we were broke university students. Living in a place of Eastern Europe nobody knows - Lithuania. Fast forward a few years, we’re founders of AdKings Agency. An industry-leading boutique eCommerce growth agency responsible for one of the fastest-growing US eCommerce brands and taking it from $0.5M to $26M in a single year without any external funding. Now we’re working on helping to grow and scale a dozen other eCommerce businesses to 8 or 9-figures. Managing over $18M in paid media ad spend a year and delving deep into sophisticated eCommerce exits, investments, and acquisitions world. Our world is intense, crazy, ever-changing, and challenging. This podcast is simple. Every week we, Darius, and Justin are going to open up our & our agency lives. We’re going to share behind the scenes insights about what makes our clients' businesses grow at the speed they are growing. We’re going to share our best-learned marketing methods, channel insights, and growth hacks that took us millions of dollars to figure out. And we’re going to open up insights from our client's business development strategies from operations management to raising capital that supported this growth. Nothing held back to help you transform your business into an 8 or even 9-figure powerhouse. Are you ready to click play? - Darius Kunca & Justin Gecevicius 👉 We're releasing new episodes every Monday, Wednesday & occasionally Friday.
Monday Mar 22, 2021
How Frequently You Should Run Sales for eCom Business?
Monday Mar 22, 2021
Monday Mar 22, 2021
We will discuss one of the most frequently asked questions: “How often should our eCommerce business run a sale?” This question brings up a lot to consider, including type of sale, amount of discount, and timing or frequency of sales.
There are different strategies you can implement, depending on what your brand offers. This all comes down to the discount amount, timing, consistency, as well as the consideration of bundling or using the free item tactic.
On this episode:
- Why the answer to this question will vary from one business to another.
- How discounts can impact sales.
- The decrease in conversion rates without discounts.
- Particular importance for “unbrandable” businesses.
- How often you should have sales.
- How sales help target previous customers to return.
- Why timing with sales can make or break the campaign.
- Sales percentages that are popular for luxury and non-luxury brands.
- The psychological component of discounts.
- How the bundle/free item tactic works.
- When it works to have larger discounts less often (twice per year).
- A recommendation to have a sale every 6-8 weeks.
- Buy 2, Get 1 Free and other bundle incentives.
- Quantity upsells for individual products.
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