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BizReport : Research archives : September 06, 2006

Do Urgency Offers Really Work?

Creating a buzz around a new product is a sure way to garner a few sales, but once the buzz dies down can you renew that interest?

by Kristina Knight

In direct mail an urgent message, i.e. an expiration date, does increase the sales conversion rates. But do those same tactics work online?

Marketing Experiments recently tested the theory of urgency offers and their effect on online sales. They found that soft-selling the urgency message was the best way to go about increasing sales in the online marketplace. A soft mention of the number of items available or noting a date stamp in the offer were sufficient to spike sales conversions.

By date stamping an email for a computer parts etailer with, “At 6:04 this morning the best prices were. . .” saw sales spike 10 percent in the following 48 hours. By mentioning that 5,000 videos on the dangers of sexual predators were created, sales of that video increased 508%.

According to the study, softer offers work better online. There is no need for big, yellow starbursts stating that there are only 2 remaining products, or that the sale will end at 5pm day after tomorrow in an online environment. Instead, focus your energies on getting more traffic to the offer page, and on that page state things clearly with soft-sell tactics.

Tags: soft-sell tactics, urgency offers

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