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Everyone loves something for free. Buy 1 Get 1 Free is the most common route. But have you considered a better route? Buy 2 Get 1 Free will increase your Average Order Value. This is psychologically better than Buy 1 Get 1 Half Off because your customers get a free product. Of course, this only works if someone wants three of your products—but if it’s that good, that should be a no-brainer.
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Doorbuster
This is a variation on the X% off, but you’re motivating them to buy quickly. The first 100 orders get a 50% discount. You are now limiting your losses but getting massive traffic to your website. This is ideal for a loss leader which is heavily merchandised to increase awareness of your other offerings.
If you buy these two products together, you get an X% discount. This also increases your AOV because we ship more products without discounting the second. This could be a Pick 2 of Any or predefined product sets (easier to accomplish).
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But marketing may insist that you have to offer 50% off. And so be it. This will reduce the Average Order Value.