Almost on every website nowadays you will find offers like save 20% etc. The question is how to make them work just beautifully? My answer: limit your offer with an end time, i.e. offer an expiry day, thus create a scarcity.
By doing so, on a website which was selling annual plans for their membership and was already offering 40% off the second year I have increased revenue by 24.5% and orders by 18.5% just by making a very little change on their website. That change took 1-2 hours of developer resources to implement.
Below are the changes I have tested. Yes, all what we have done was adding a line of text ‘Offer expires 31st March’ into two strategic places on this pricing page. One below the site main headline and another right in the pricing plans table, just above the main join CTA.
We have ran this test for 31 days, i.e full month. At first, this variation was losing compared to the control. But on the 15th day, as visitors were getting closer to the end of this offer we suddenly saw a change. Visitors who viewed this end offer started buying more and more. Then 3 days before expiring of this offer the conversion suddenly spiked.
What was however also noticeable that visitors were choosing the most expensive option over the cheaper one (1 year) meaning we have also increased average order value. Revenue started going up from the day 14th.
What was happening here in this test is called scarcity effect. If there is a good offer limited by a time our brains start evaluating it, which usually triggers a warning: once gone I might have missed it. Basically, in this test we have explored this human element of behavior. My advice? Anytime you run a special offer limit by time to sell the most.
There are also more additional techniques which help to boost conversion even more from these limited offers, but those are available only to email subscribers.
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