Promotions advertising should be differentiated. The former gives the customer an incentive to buy, and the latter provides a reason. Your physical store is the ideal place to use sales promotion techniques, considering that 70% of purchases are made at the point of sale.
Sales promotion ideas to improve your profitability
Every sales promotion requires the buyer to agree to a lower price or higher value. You need to consider the types of promotions available and What Is A Promotion In Marketing And Why It’s So Important? how they are used to get the best out of this marketing tool.
You will find our recommendations below:
Discount percentage
This promotion offers a discount of a percentage on the purchase price. This promotion is the most effective and popular. Retail experts say that percentage discounts are one of the most effective ways to promote discount coupons.
Discounts that are applied throughout a store work better than those that are only applied to a few products. This promotion can also be used to promote new products on the market. Once they have been valued and known by consumers, consumers will likely pay their true price. These discounts are also popular for products with low turnover.
Reduced price
This is a method of giving a discount on certain products for a set amount of euros. This technique can be more effective than percentage discounts. However, it is important to consider the price of the product, customer type, and perceived value of the offer. Therefore, you need to look at promotion from a psychological perspective.
This discount has the main benefit of generating a sense of savings for the consumer. This is especially true for expensive products. For example, a 50-euro discount can be perceived as a significant amount of money. However, calculating 15% from 350 euros may prove more difficult for some customers.
Quantity Discounts
The promotion is simple: if you purchase four tickets, you will get the fifth free. This promotion aims to increase the average ticket or the average value of the sale. It is also effective in reducing inventory. The most difficult thing in this situation is to choose the right product.
Shipping Free
This sales promotion is exclusive to e-commerce, and it’s called No Shipping Fee. This would mean that the customer would only pay for the product and not have to pay shipping costs. This is a common way to increase your average purchase ticket.
Another option is Free Shipping, where the customer pays only shipping costs and the product is free. This tactic is very popular for new store openings that aim to promote the brand and attract customers.
Discounts
This is a deal that offers a discount to customers who mention the brand in their social networks. This is a great way to increase your company’s social media presence. This will allow you to gain followers and make social media a valuable communication channel. You can either get a discount at the time you make the purchase or accumulate discounts that will be available for your next purchase.
Sweepstakes
The client purchases a product and then accumulates participation in a raffle. It can be a product or a discount of up to €. This promotion aims to increase customer interaction with the brand.
Refer a friend to receive a discount
This discount is offered to customers if they refer a friend who makes a purchase at our store or gives their data to us. This discount is used to collect leads so that we can make personalized offers to them.
Coupons
This marketing tool offers customers a symbol coupon that can be exchanged for a benefit such as discounts or gifts. This strategy is particularly useful for generating new leads (emails, telephones, social networks), and increasing communication channels with potential clients (sending SMSs, remarketing newsletters).
Discounts on thematic items
This promotion offers a discount on a particular date or time. This promotion would include discounts for father’s and mother’s days, as well sales seasons. This is a popular tactic that consumers value because it helps them understand the purpose of the promotion by framing the issue in a specific way.
This type of promotion creates urgency because it is only effective for a short time, which causes customers to be in a rush to make a purchase and get more. In these situations, it is crucial to inform the client about the duration of the offer. This will allow him to act quickly and know the time frame.
Find more articles here.
