All customers enjoy sales, special promotions and shopping discounts. Everyone loves getting a great deal, and it even helps businesses to increase sales and improve their customer experience. A large percentage of shoppers use discounts or coupons throughout the year, therefore having an effective strategy is important. Sales promotions are tried and tested techniques that can help increase customer engagement and purchases.
Why are Sales Promotion Important?
Why would stores willingly bear a small loss by enabling discounts or coupons? Because it works! Promotions increase your overall revenue and improve conversions.
Sales promotions are limited-time offers. It creates a sense of urgency in your customers, enticing them to make the purchase. It also helps to retain customers as they know they can count on you for good promotions and service. Moreover, it helps you stand out from the competition and creates brand reputation. Here are 5 promotional strategies that may help your business grow immensely.
- Coupons
One of the most common promotional techniques is giving your customers coupons. You can offer your customers coupons in store, through emails or social media platforms. They are great for gaining attention and encouraging additional purchases. For example, once your customer places an order, you may give them a discount for their next purchase.
Coupons are also a great way to recover abandoned carts. Around 70% of the consumers do not finish placing their online orders. By sending promotional follow-up emails with coupons, you have a higher chance of conversion and recovering carts.
- BOGO deals
You know what’s better than 1 discounted product? 2 for the price of 1! Buy One Get One Free offers tend to have a strong impact on customers as they are getting more for less. This is a great marketing tactic for store owners to upsell or cross-sell products and increase sales. It is also helpful for selling your previous stock so you can introduce new products.
- Make an Offer
A unique way to increase sales and engagement with your customers is by giving them the power to bid or negotiate the price of the product. This is great for products that are overstocked or rare. Whatever the case, it is a compelling feature and sure to make you stand out from your competition. You can use WooCommerce Make an Offer plugins to enable this on-site.
- Time-Limited Offers
Introducing time-limited offers will create a sense of urgency and drive customers to make immediate purchases. This technique is valuable for retaining customers, increasing sales, and clearing stock.
- Giveaways
Any offer can attract great attention if displayed on the right platform. By leveraging the power of emails and social media, you can advertise your sales promotion and gain a large customer base.
Contests and giveaways are popular on many platforms. You can define the rules of the giveaway, such as requiring people to ‘like’ your page, comment on a post or share it with friends. This may help your business gain more followers as well as promote your brand.
Promotional sales can be a great way to gain attention, increase revenue, and promote your business. In addition, it keeps your customers happy, which is of utmost importance to make sure you are still in the game. Remember to devise a plan and create captivating ads so that your customers are well-aware of your offer.
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