Today’s savvy brand owners know that many consumers look to them for unique experiences that aren’t available elsewhere. They capitalize on this fact by offering promotions that offer savings or other value.
Sales promotions are a tried-and-true method for increasing sales, acquiring new customers, and capitalizing on seasonal opportunities. These are short-term marketing strategies used to increase sales by creating urgency.
As a business owner or entrepreneur, you may get overwhelmed with all the information available. The good thing is we have chosen three basic ideas so you can learn them.
💡 Pro tip: The best way to compete against other stores is by offering the same or better product at a better price.
Flash Sale
A flash sale is a promotion where items are reduced or offered at a fixed price for a limited time. This approach can be used for B2B and B2C eCommerce retailers. Flash Sale allows you to give customers exactly what they want: the chance to buy at a discount.
For example, if you own a restaurant, they offer half-off burgers on Friday nights. If you’re selling clothes online, offer free shipping on all orders over $100 (or whatever threshold makes sense). If you’re selling shoes online, offer free shipping on all orders over $50 (or whatever threshold makes sense).
This has proven extremely successful with eCommerce retailers looking to attract new customers during peak shopping seasons like Black Friday, Cyber Monday, and Back-to-School.
How to execute properly
- Make sure the deal is compelling. You can’t just throw a sale at your online store and hope people will buy it. If they don’t see any benefits or can’t find anything they want in the deal, they’ll likely pass. Consider everything that makes your product desirable. Think of how to use it to generate excitement around this special event or promotion.
- Use social media as part of your marketing efforts during the promotion period. To get more people talking about your flash sale, make it easy for friends to share it. Make sure you’re using all your channels — including Facebook, Instagram, Twitter, TikTok, Pinterest and others — so that no one misses out on what’s happening!
- Run an email campaign around this promotion where you offer exclusive discounts on certain products or services during this time. Make sure everyone knows when the first day of the promotion begins. Because this could be one of the most important days in digital marketing if done right!
Why is it the right choice
Gain more exposure for your products or services through Flash Sales. Increase traffic to your site and lead to future sales with Flash Sales. You get more leads from people who are already interested in what you have to offer. And, customers are excited about getting something for less than usual (which makes them even more likely to buy).
Bundling of goods and services
Bundling is a sales promotion strategy that involves selling multiple products, services or items simultaneously. The concept is based on the idea that customers will buy more if they can save money by buying more.
Bundling may include selling software, hardware and accessories in one package. For example, a customer who purchases a computer and printer together will pay less than she would for each item separately.
The seller’s goal with this type of promotion is to get customers to buy more at once. A good example of bundling comes from the holiday season when many retailers offer deals on items such as televisions, DVD players and other electronics as part of their Black Friday sales event.
How to bundle your products effectively
- Create a bundle of all your products. The first step is to create a bundle of all your products together. Include those that are not currently being sold. This will allow you to see how much more money you can make.
- Create a product bundle for each season. Once you have a bundle, look at the season and create an additional bundle for each. For example, if you have winter products, it would make sense to create a separate bundle for summer and fall. This will help people find what they are looking for faster!
- Create bundles based on current trends. To increase sales, it is essential that you take into account current trends. Find out what is currently popular to create bundles around these trends. If there is something that people like right now, then it makes sense to create bundles around these products!
Why bundle?
A product bundling approach that works well over time can dramatically boost revenues on individual sales. The first return on the expense of obtaining a customer is higher when selling numerous products in one solution. As a result, you end up with more customers and higher average revenue per customer.
The second benefit is that you can offer a single sales promotion solution. This includes multiple products at a lower cost than if you were to sell each product individually. This is especially true when there is a significant overlap between the products or services that customers value and need.
Finally, you can use it repeatedly to market new products or services to existing customers who may be interested in them.
Free shipping
Help eliminate abandoned carts by offering free shipping. Free shipping quickly solves this problem by acting as an instant sales promotion.
It does not have to be offered only during the holidays. You can use it for every product in your catalogue, every day of the year. Thanks to this approach, you will be able to increase sales and keep customers coming back again and again.
Free shipping is a powerful sales promotion because it’s not just about getting a customer to buy — it’s about getting them to buy now. And for free shipping to work, you need to make sure that your customers are aware of it before they abandon their carts.
How to make free shipping reliable
- Tell people about the promotion ahead of time. Make sure your customers know when they’ll receive their orders to plan their shopping accordingly. You might even want to send them an email or SMS detailing how they can take advantage of this offer.
- Include a link in your emails and messages. There are many different ways to do this. It’s best if you include a link right inside your email subject line or message text itself. It will be easier for your customers to find out about this special promotion when they open their inboxes or mailboxes in the morning or evening hours (before going out for the day). It also makes sense if you’re offering free shipping on multiple items at once
Why choose free shipping?
Free shipping stood the test of time and may go down in history as one of the best sales promotions. Backed by numbers, a study by FedEx says 73% of online shoppers are influenced by it to check out their items.
In addition, free shipping has become synonymous with online retail in general. The fact that most people shop online means that free shipping is a standard expectation for most purchases.
It is especially effective for impulse purchases like books, perfume, or electronics. Customers already know what they want to buy before starting their search for it on Google or Amazon.
Conclusion
Remember, these three are chosen as general guides only. Your business may not be inclined to it, but these are worth trying since they are tested and proven already.
Reach out to us if you need more help with your growing business. We’ll be glad to help you!
