These promotional strategies could convert potential consumers into loyal customers
Sales opportunities and promotions are important aspects of any business, regardless of the industry they may inhabit. This is because when customers feel valued and taken care of, an increase in market activity and interest is almost always inevitable. However, sometimes bringing in more customers isn’t as simple as placing a discount on a product or service. Nowadays, with so many different digital businesses taking up space in the virtual world, companies need to go the extra mile, implementing creative sales pitches that attract their specific target audience. In this article we outline four different sales promotion ideas that have proven successful in today’s modern business climate.
Flash Sales
As its name suggests, a ‘flash sale’ is a promotional tactic that relies on the marketing of a certain product that is on sale, generally for a period of 24 to 36 hours only. If you’ve ever seen a ‘this day only’ banner fly across the landing page on an Ecommerce site, you’ve been in the presence of a type of flash sale. These promotions often bring customers to action on the spot, as they feel the buying opportunity will slip out of their hands if they do not make a decision on a product. Flash sales are quite common in the travel industry, with many airlines offering incredible discounts on flights for one day only. For example, just this summer Ryanair had a huge flash sale that was offering £5 to paradise island destinations like Ibiza and Mallorca. As such, flash sales are useful strategies for businesses that want to see their products sell quickly.
Recurring/Steady Promotions
In many ways the opposite of a flash sale, recurring or steady promotions are those that stick around for a long period of time, and sometimes even permanently. Here, sales remain intact, and customers can rely on them even if they do not take action instantly. This can be illustrated well when taking a look at the current landscape of an extremely fast-growing digital industry - online casinos. It is here that platforms will provide players with recurring promotions on popular games like slots, whether it be free spins or jackpots that are guaranteed to hit every day. It is also common for providers to give new users welcome bonuses when they first sign up; these promotions are constantly in motion. Steady sales add value to a product and give the customer something to look forward to without creating any rush.
Buy One, Get One Free
The ‘buy one, get one free’ strategy is one of the most long-lived promotional ideals in sales history, and yet it is still useful today. Businesses that utilize BOGOF deals understand that customers love to feel that they are getting something free of charge, a concept that can not be underestimated. In fact, often times this promotional strategy works better than any others because consumers know that they will walk away with a free item. What’s more is that sometimes variations of the BOGOF trend can be even more enticing. For example, ‘buy three, get two free’. This notion of ‘free’ is one that leading body care and fragrances retailer Bath and Body Works knows well. Famous for their in-store mega sales, the business now has a strong online presence where they continue to provide their loyal customers with top notch offers like these.
Businesses that can brainstorm valuable growth opportunities together are setting themselves up for long-term success
Freebies/Giveaways
If customers are known to love BOGOF opportunities, they are bound to get even more excited about gaining free items for simply shopping like normal. This is where freebies and giveaways come in. These promotions often rely on the offering of a free gift or complementary item and can come in all shapes and sizes. It is common for the freebie item to be in a similar category to the products you already have in your online shopping cart. For example, an office supply store may throw in some extra (free) ink cartridges to your purchase when you buy other related products like a printer, blank paper, etc. Giveaway marketing is similar, and takes place when businesses aim to promote certain merchandise through free prizes.
So, there you have it - four excellent promotional tactics to get your business more traffic. If you’ve enjoyed this article, be sure to check out some other digital marketing secrets that promote rapid growth.
