The key reason why businesses implement any kind of promotional activity is to improve sales. Sales promotion is so important because it can achieve these objectives: reinforce the brand, provide information, create interest, build product awareness, stimulate demand, increase loyalty and the amount of products a customer buys. It is necessary for any business to allocate a budget to promote their business because great promotional ideas lead to more sales. There are many cost-effective ways to implement promotion which provide a bigger increase in sales, all you need is a little creativity. Generate new customer, build patronage and boost your sales with these great promotional ideas:
This is the most popular type of promotional activity because people love to grab a bargain. Offering a discount every now and then look more attractive to buyers. Price reduction on popular items can lure buyers away from competitors and turn them into regular customers.
Offer price reduction to the general public for a limited time to create a sense of urgency and prompt them to buy. This is a good tactic to get rid of surplus stock. Inform the public of your sale schedule by posting on email, coupon or deal sites and social media.
Giveaway promotional products
Everyone loves a freebie. Choose the right promotional items as giveaway to increase brand awareness, boost leads and generate higher sales. Promotional gifts are kept longer by recipients which remind them to buy your products every time they see it. Useful items like personalised coffee mugs, logo-branded shirts, promotional pens, refrigerator magnets and sports bottles are effective promotional products.
Buy more to save more
More savings entices the customer to buy more of your stocks without feeling guilty. Giving a discount helps to sell more stock by attracting customers and converting visitors. Customers who buy in bulk can also be rewarded by points that can be converted into cash.
We are in the digital age, more and more people are searching the web before buying a product. Study shows that people tend to buy products which are endorsed by friends and family through social media. Create business accounts in major social media sites like Facebook, Twitter, Instagram and LinkedIn or niche sites frequently visited by your target market. Be a savvy social networker and promote your business through these social networking sites.
Holding a contest is an excellent way to generate leads and traffic to your site. Choose a prize your customers can’t resist. Give a coupon to customers when they make a purchase with a code to enter in your lead capture page. Make the mechanics simple and make sure the contest revolves around your business.
People spend more around the holidays. Make use of this golden opportunity to promote your brand and sell more products. Entice customers to buy by giving them discounts or special offer. Get creative with your promotions by using the holiday as your central theme.
Brand yourself by wearing your company name and logo. Get you logo tastefully printed or embroidered on shirts and let your employees and loyal customers wear them. They will be your brand ambassadors and walking billboards at minimal cost.
Offer FREE shipping/ FREE returns
The word “free” is a magic word that attracts people. Offering free shipping and returns provide customers with a sense of security and assurance that they won’t lose out if they send back the product. Offer free shipping when customer buys over a certain amount and don’t forget to incorporate shipping cost into your product.
Partner up with complementary business
Look for related business that you can put together in your packages or services. Teaming up with complementary business let you split the marketing cost and increases your profit. Co-promotion will enable you to offer better prizes at lesser cost.
Rewarding your customers will help you keep customers and increase the sales of existing products. Give your loyal customer points every time they buy a minimum amount. This point can be used to purchase products or get freebie.
Run a reward program to your loyal customers when they satisfy certain criteria such as being a customer for one year or when they refer other people to your business. You can offer discounts on their anniversary or get free items.
Upselling or product bundle is an effective tactic to increase sales. Highlight your more expensive products when the customer is on buying mood. Train your staff on the power of suggestion, provide benefits or explain why those products are better.
Give a Guarantee
Risk prevents people from buying. A guarantee inspires confidence in buyers when they feel-risk free. This highlights your integrity and increases sales.
Free Services or Consultation
Service-based business attracts more customers by offering risk-free consultation or free services. Customers who contact you to try what you offer are already half sold and more likely to try your services compared to cold calling.
Price Match Promise
Price match promise is an effective way to promote your brand when there’s a lot of competitor in your area. Allow your customers to shop with you and give them a refund if they get your products or services at a cheaper price. This tactic will help you stay ahead of competition while building a loyal fan base.
Support a Cause
Charity donation is a good institutional image building tactic. Supporting a cause gives a positive PR and publicity to your business. Sponsor charitable events or look for opportunities to donate promotional items that are branded by your company name and logo.
Employee incentive programs
Inspire your employees by giving them commissions or rewards for selling more. Think of the best suitable corporate incentive for your deserving employees. These will increase their morale and increase their productivity too.
Sales Promotion for Intermediary
Partner with your dealers or affiliate marketers to let them sell more of your products. Inspire them with monetary incentive to give them more reasons to push your products than the competing brand. You can offer good commission schemes to build a long lasting relationship with them
After Sales Service
Make your customers satisfied with an excellent service and a little extra. After sales services gives your customers a reason to smile and come back for more. Happy customers are repeat buyers and give quality referrals.