Understand Your Buyer > How To Convert > The Buy More Effect

What is it?

You can encourage buyers to buy more by rewarding them for the more that they spend.

Why does it work?

It works for a number of reasons. Firstly, because we love to get a good deal when we buy things and if we buy more we get more which is attractive. Secondly it’s a variation of the In for a Penny Effect where once we have decided to buy it’s easier to decide to buy more – especially as it’s being rewarded.

How can you use it?

Depending on your offering, think about how you could incentivise buyers to buy more – would it be to give them money off, extra points or extra “stuff”. Create a reward for buying more, set the parameters of how much “more” is and experiment.

Example

eBay has multi-buy discounts available on many products which give you a progressively better price, based on volume purchased.

10 alternative ways to discount your offering:

First purchase– Discount the first purchase a buyer makes with you.
Follow up offer – Follow up those who didn’t buy with an incentive.
Cashback – Don’t discount, but provide cash back to those who pay full price.
Themed Sale – Create an event or reason to hold a sale.
Price Match – Offer to match the genuine price of a competitor.
Buy more – Incentivise buyers to spend more with ascending discounts.
Free gift- Offer a free gift with purchase.
Early bird – Offer a discount for those who buy/pay in advance.
Flash Sale – Hold a flash sale
Budget version -create a naturally cheaper version of your offering to appeal to lower spending buyers.

The Buy More Effect

10 alternative ways to discount your offering:

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