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As the founder of a startup that enables eCommerce stores to use data science and through my previous work in email marketing optimization for hundreds of clients, I have seen firsthand how powerful — and potentially dangerous — discounts and promotions can be. They drive sales during slow periods, offer new customers a cheaper entry point and enhance relationships with existing customers. However, they can also turn customers into discount hunters.
In this article, I’ll share my battle-tested five-step strategy to create promotions that not only boost short-term sales but also increase your customers’ lifetime value. By the end of this
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