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BMSM (buy more save more)
You’re running an online store and want to boost sales while making your customers feel like they’re getting a great deal. Enter BMSM Buy More Save More, a strategy becoming a go-to in eCommerce. It’s not just another acronym to memorize for your eCommerce glossary. It’s a game-changer that can increase sales, improve customer satisfaction, and help you stand out. This article will explore what BMSM means, why it matters, and how to use it to your advantage.
If you’re eager to use BMSM in your eCommerce store, tools like Instant’s Shopify product page builder can make it easy.
Table of Content
What does BMSM (buy more, save more) mean?
“Buy More, Save More” (BMSM) is an intelligent sales tactic that pushes customers to add more items to their shopping carts by offering more significant discounts as they go. The basic idea is simple: the more you buy, the more you save. Customers get a great deal, and businesses sell more products.
How does buy more, save more work?
Picture a store promoting a BMSM deal: buy one item and get 10% off, but buy three and snag a 20% discount. The larger your purchase, the better your savings. This encourages shoppers to spend more while feeling like they’re getting a great bargain.
Why use BMSM promotions?
These deals are perfect for businesses looking to increase their average order value or clear out inventory. For customers, BMSM offers a tempting reason to buy more, especially if they already have their eyes on a few items.
Benefits of BMSM for businesses
Buy More, Save More (BMSM) promotions are potent levers for businesses aiming to increase average order value (AOV). When shoppers see tiered discounts, like 10% off if they buy two items and 20% off if they buy three, they’re motivated to spend more.
This doesn’t just mean higher revenue from individual purchases; it also signals to customers that their spending is rewarded. With each additional item added to the cart, the savings grow, creating a compelling reason to buy more.
Efficient inventory management with BMSM
Got excess inventory? BMSM can help you move it faster. By coupling discounts with slow-moving products or out-of-season items, businesses can clear out stock that might otherwise gather dust.
This not only frees up space but also reduces holding costs. When inventory turnover improves, companies can reinvest in fresh stock, keeping offerings relevant and appealing to consumers.
Encouraging bulk purchases for greater gains
BMSM promotions are particularly effective at encouraging bulk purchases. In retail and consumer goods industries, customers are more likely to stock up on essentials or buy multiple gift items when they see a better deal for buying more.
This is especially true during peak shopping seasons. When shoppers perceive more excellent value in larger quantities, they’re more inclined to make substantial purchases, benefiting both the business and the consumer.
Enhancing customer experience and loyalty
BMSM promotions deliver a sense of value for shoppers. They offer the thrill of a deal, making shopping feel more rewarding. Customers often feel more connected to brands that offer tangible savings, which can foster loyalty.
Customers are more likely to return when they know they’re getting more for their money. Repeat business is crucial for building long-term customer relationships and can drive sustained revenue growth.
Best tips for implementing BMSM
Keep it simple. Your customers don’t have time to decode complex offers. Think, “Buy 2, Get 1 Free” or “Save 20% on orders over $100.” These clear savings tiers make it easy for shoppers to see the value and take action. Customers are more likely to buy more when they understand what they’re getting.
Know your customers’ habits
Look at how your customers typically shop. Are they buying one or two items at a time? It may be time to encourage them to add a third item with an enticing discount.
When you align your BMSM promotion with their usual shopping behaviors, you create natural offers more likely to be accepted.
Promote everywhere
Don’t just announce your promotion and hope for the best. Get the word out everywhere you can. Use email campaigns, splash it all over social media, and make sure it’s front and center on your website. The more places your customers see it, the more likely they will jump on the deal.
Create a sense of urgency
Shoppers need a reason to act now rather than later. By setting a short timeframe, like a “48-hour flash sale,” you can push them to pull the trigger on a purchase they might otherwise put off. Limited-time offers can create a fear of missing out that’s powerful in overcoming hesitation.
Focus on popular products
Why waste a good promotion on products that aren’t flying off the shelves? Instead, target those items people are already itching to buy. You can maximize both the sales volume and your profits by choosing high-demand or high-margin products.
Encourage larger orders with cross-selling
When shoppers are close to reaching a savings threshold, give them a nudge. Suggest related items that can help them qualify for the following discount tier. This boosts their order value and enhances their overall shopping experience by introducing them to new products they might love.
Keep an eye on the results
Once your promotion goes live, don’t just set it and forget it. Monitor its performance closely. Adjust if something isn’t working, like a discount threshold that’s too high. By staying flexible and responsive, you can ensure your BMSM promotion is as successful as possible.
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