Increasing the range of motion is a simple, yet effective technique when used appropriately. However, if it's implemented incorrectly, you can wind up injured.
I love utilizing this strategy with single-leg exercises like reverse lunges, Bulgarian split squats, and step-ups. It's an outstanding way to not only change the general training stimulus, but also to increase both the range of motion and stability within that new ROM.
I'm not a huge fan of deficit deadlifts, using smaller plates or standing on a platform, because most people have terrible deadlift technique in the first place and it only gets uglier when you ask an unprepared body to go to a more extreme ROM.
Some folks may be ready for it, but that's about 1% of the lifting population, and frankly, you're probably not that special.