Providing exclusive discounts to niche groups of people can be beneficial to your business. The North Face gives special discounts to students, military personnels, healthcare workers, and first responders. Here's what they did:
The North Face Military Discount provides a 10% discount to all U.S. military personnel, their spouses, and dependents. Being "military-friendly" creates a positive impression among people both inside and outside of the military. In addition to helping with branding, the military community presents a significant market opportunity with strong purchasing power.
The North Face provides a 10% discount to university students in the U.S. This student market is relatively untapped and can be a significant target audience for certain brands. Offering student discounts is therefore one of the easiest ways to influence buying habits and begin cultivating brand loyalty.
In addition to military and student discounts, The North Face used to offer discounts to healthcare workers and first responders. This demonstrates recognition from the brand for the hard work and effort put in by these often-overlooked groups, and shows appreciation through exclusive discounts.
Pick this tactic up easily, here's how:
- From your Shopify Admin, go to Customers to add relevant tags for each customers i.e. Student.
- Go to Settings under Store design, enable Customer based pricing.
- Next, from your Konigle dashboard go to increase LTV strategy, implement ‘Customer Based Pricing’ tactic.
- Create new pricing rule to reward your loyal customers based on the tag created in Step 1.
- Send an email out to said customer group informing them of the exclusive deal.
Alternatively, you can enable the LTV Booster tool also available on Konigle, this tool automatically gives your customer a discount off their second purchase!