OpenStore reposted this
This July 4th, our team at OpenStore is implementing more Buy X Get Y promotions for more of our brands, based on how these promos outperformed more straightforward promotions like 20% off sitewide discounts during Memorial Day Weekend. Over MDW, one brand that usually sells 1-2 items per order sold 3-4 items per basket. We plan our promotional calendar every quarter, using performance data from the previous year and current trends to determine what promotions we’ll run this year. Two months out from launch, we lock in details such as which brands will have promotions and what the terms will be. At that point, we can brief the creative team on what assets we’ll need. Planning early allows us to be 80% ready so that we can handle any last-minute changes. We keep track of all of your promotional planning on ClickUp, and we use tools like Figma and iconik.io to build promotional assets and align on approvals. When it’s time to launch our promotions, we use our own proprietary promotional engine that our engineering team built, which allows us to set a day and time for each of our promotions to launch weeks in advance. By using our own platform, we can QA everything for promotions ahead of time so that fewer people have to be on call on the day of the launch, which is often a holiday. For the majority of brands, we find that simpler offers resonate better with customers. Offering shoppers free shipping or a free item with purchase can help shoppers get over the line without discounting your products too much. For those of you running your own brands this July 4th, make sure to optimize your offers for high conversion rates and gross profit per site visitor. And have a happy 4th!
Edward Ryan
6d
Great info/deals...
Founder & Chief Product Officer @ Aument | Product Manager
6dGood luck! I'm a big fan of the work you do at OpenStore! How are you measuring the impact, considering seasonal and holiday variations? How do the results compare between 'Buy X, Get Y' and 'Up to X%' promotions?