My Idea to increase market share for your ecommerce shop PRIZE SHOPPING

8 replies
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Hey everyone,

I'm gonna cut straight to the concept:

The idea will work for any physical or eshop.

You charge an extra 10%.
Why would anyone pay extra?
Well, this extra 10% when spread over 10 customers equates to 1 unit. Which is given away at random to one of the people that bought the item.

Take the example of an item that costs the consumer €50. you charge €55. Now after 11 people buy that item you reimburse one of the people at random.

This is all upfront and transparent.

f course, you could reimburse them with a credit note, so they have to spend it in your store. However, unless you are amazon, I think this will limit your growth.

I envision this working on a shop like Amazon, a buyer can opt to pay a % more and be in with the chance of winning the item for free. The bigger the % they pay, the higher the chance of winning. Of course, they also have the option to pay the normal price and not be in with a chance of winning it for free.

The concept plays on people's psychology and cognitive bias on a number of levels.

Also, the reason for doing this is to capture more customers, not to make more money from each customer. It is a way of driving growth.

I love combining concepts and sharing ideas freely. This one hit me out of the blue while in a minor extasis state. Hopefully some of you guys can use the concept to your advantage.

Own your day,

#ecommerce #idea #increase #market #prize #share #shop #shopping
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  • Profile picture of the author Emma09
    good carry on
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  • Profile picture of the author Seamagu
    and of course this concept could be used as a marketing strategy for non Internet businesses too e.g. hotels, bars etc
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  • Profile picture of the author Seamagu
    Great, let me know how you get on, you're the first to use this concept :-)
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  • Profile picture of the author Mysterious Robin
    How about the more items you buy the more chances of winning?
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  • Profile picture of the author Seamagu
    Yeah, that could work too. I think you could have it as a general offering but you can only win the item you were purchasing. This plays on the psychology of the person everything they make their purchase. They want the item anyway, you are just giving them more incentive to buy it from you. You would need to do this for every item or the most popular ones. Otherwise people just think you are trying to offload slow moving items. That has to be avoided. The customer has to see this as an added benefit to them
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  • Profile picture of the author lucas6490
    Great idea, it is growhacking ideal
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  • Profile picture of the author Seamagu
    Hey warriors,

    Just wondering did anyone try this strategy?


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