A sale can be used to introduce new products, entice new customers, and increase seasonal sales.In order to periodically boost sales numbers, sales promotions are done over a short period of time.There are many ways to promote a sale, including online coupons, open houses, store-wide discounts, and referral bonuses.In order to meet your company's sales goals, the sales promotion process should be well planned and documented.How to run a successful sales promotion.
Step 1: Evaluate the type of sales boost you need.
It is possible that your business needs to move seasonal products, encourage trials of services or fill a schedule for a specific month.Pick the type of promotion you will use based on the monetary and product needs.
Step 2: Customer management systems are worth investing in.
Your online or in-store databases should keep track of customers, their purchases, each offer they respond to and other preferences.The customers who are most likely to buy based on these preferences are the ones you should aim to target first.
Step 3: Promote your ideas with a brainstorm.
Simply taking a percentage off a sale price may encourage bargain hunters to buy, but many companies try to encourage customers to purchase greater quantities, such as "buy one get one half off" sales.There are some sales promotions to consider.Give a gift with any purchase.It's possible to encourage people to buy at regular prices if you find a product that costs less to produce.If you are introducing a new, low-cost product that may encourage repeat customers or a way to get your brand out there, this may be a good option.The retail value of the free product should be advertised.It's a good idea to bundle your most popular products with a less popular product.The package should be discounted so that you can move more products.For a limited time, you can offer free services.Risk-free consultations can be done by service-based businesses.The customer is more likely to convert to a customer once they contact you.You could also offer a free trial with service-based businesses.Free lessons can be offered on certain days.Getting people in the door can be accomplished by teaching a sewing class, a beer brewing class or a financial planning class.You can either encourage them to buy the materials for the class or give them a starter kit.If you want to promote sales, partner with other businesses.Give a free gift, coupon or sidewalk sale if you split the cost of marketing.There is a contest.Give a coupon to everyone who participates.This is a great way to increase online traffic.
Step 4: Each type of promotion should have a financial analysis done.
Any losses that sales could bring, break-even points and potential returns on investment should be specified by your marketing and bookkeeping staff.You should choose the promotion with the best financial prospects.Make sure you choose your percentage offer carefully if you are considering a coupon.The coupon is often over 20 percent, which makes it seem like an excellent deal.It should be a viable coupon.These coupons may not be the best choice if you have a low mark up on products.
Step 5: Start and end dates are needed for your promotion.
This is an offer that will be available for a limited time in order to encourage people to buy a product.In order to suggest that it is a very good deal that can't be found all the time, the less time it will be available.
Step 6: Clarify your goals.
There is a realistic conversion rate for the number of people you want to reach.This will allow you to plan out the size of your campaign.
Step 7: A marketing campaign.
Your marketing team or marketing consultant should come up with a complete view of the process from the message to the creative elements to data gathering.You will have more data to analyze after the fact if you invest a lot of time in this.
Step 8: Your message should be specified for promotion marketing.
A coupon is not the same as a sales promotion.It should be used to promote brand recognition.You should invest in creative services.Professional graphic designers, voice talent, photographers, writers and models can offer you a marketing product that will reach more people and have more success than what you can do alone.If you have organized these elements in the past, you should consider hiring a professional to do the coupons, radio recording or posters to see if they can increase sales.
Step 9: If possible, get your entire team involved.
Everyone should be on board with a sales promotion.Encourage employees to come up with new ideas.Keeping track of how the process is handled will allow you to improve your future promotions.
Step 10: Data on customers, new email subscribers, phone calls, online traffic and the increase in sales should be gathered.
Ask your marketing professional to do the math on your conversion rate and percentage increase in customers.After the fact, assess your success.
Step 11: In the future, repeat successful sales promotions.
If the previous promotion wasn't successful, try a new one.Although planning will increase the success of your promotion, there is always an element of trial and error in marketing.