The right sales promotion strategy can help a small business attract and keep customers. Time-sensitive sales promotion has been a secret weapon that successful companies have been using to motivate customers to make more purchases.
However, this marketing strategy is not just for large companies; small businesses can also use it to boost sales. Whether you’re crafting a sales promotion for a holiday or to improve end of year profits, promotional sales will ensure your business enjoys success throughout the year. The following are top sales promotions that small businesses can use to turn a consumer into a willing buyer.
Offer product giveaways or branded gifts
Everyone likes free things especially if they are of good quality. But, most small business are reluctant to have product giveaways as they believe it cuts down on the profit. Truth be told not all products can be given away. Therefore, you must think in terms of giving branded gifts with each purchase. This will attract customers, gives them more reasons to buy and provide a chance for them to review your product.
Capitalize on the benefits of coupon codes
Giving any form of discount is likely to motivate customers to keep purchasing your product. It also makes your brand memorable and can even act as an advertising strategy because customers are likely to tell their friends which companies offer coupons and eventually increase conversation. You can send coupons to customers via email, post them on your different social media platforms or your business website. A small business that sells luxurious items such as jewellery can offer exclusive coupons to make a lasting impression on specific customers.
Use free shipping as a marketing tool
A potential customer will be motivated to try your product if you offer free shipping, next day deliveries or free returns. This marketing tool offers a form of security where the consumer won’t have to spend more money in case they want a refund. The trick to minimising losses when using this strategy is for small businesses to include shipping fees in the product cost. Limiting the free shipping and returns when a customer makes a purchase worth a certain amount is beneficial to both the seller and consumer.
Create loyalty programs that cater to your target audience
It doesn’t come as a surprise that getting and maintaining new customers takes time, money and continuous effort. One thing that can speed up the process is a loyalty program that is customised for your target audience. The customers can accumulate the loyalty points and redeem them when they need to make future purchases. Giving loyalty points with every purchase builds a solid base of loyal customers, shows appreciation and enhance customer satisfaction.
Track your sales promotion results
One of the best ways that small business can ensure that their promotions yield the needed results is to create a convincing promotional message that runs often enough. But, how will you know if the set sales promotion is effective if you don’t track it? Ideally, you should set a timeline and use tracking codes that can generate a report that can show the progress. An increase in product sales is an indication of a successful sales promotion.