Sales Promotion Strategies for Small Businesses

Sales promotion defines all attempts business and marketers make to inform, persuade, and remind customers to influence their opinion and elicit a response. It is done with the goal of stimulating action from people of a certain target market. The desired action is for the intended market to make a purchasing decision. Jacksonville towing service has been using different sales promotion strategies to win its customers and these strategies have proven to work across all industries.

There are different promotional goals, including creating awareness, getting people to try out new products, retaining loyal customers, providing information, increasing the use of products, identifying potential customers and well as penetrating a certain market. If you are a business in search of different strategies that can be used to promote sales, here’s how to go about it.

Flash sales

Flash sales give customers a chance to save money, but only if one acts fast. It is one of the oldest tricks in the sales promotion matrix. Businesses set flash sales that happen on a specific date and hour. Sites such as Groupon and Gilt have now enhanced flash sales with the way they offer time-sensitive deals. Due to the hyper factor of flash sales, it gets people talking about the business and this attracts new leads. It creates an ideal way to boost revenue during a slow year.

Buy something get something free

Given two options; a 33 percent discount in price or a 50 percent increase in quantity. Among these two, which one would you choose? This is a tricky question, but the bottom line is that it’s the same deal. Not all consumers will be able to do the math, but many will appreciate the inclusion of “free” stuff. Studies have shown businesses sell up to 75 percent more by offering a bonus pack as compared to offering an equivalent discount. Consumers perceive free stuff to be more valuable than discounts.

Coupon or discounts with the purchase

The offer of a gift card or coupon with a purchase makes a great deal for both you and the consumer. Consumers will get a chance to save as you get an equal chance to sell more. All you need is to ensure the discount allows you to make a profit. Additionally, there is also a chance you will end up not giving out the discount because most gift cards go unused.

Tripwire

If customers have not experienced your products or services, they don’t necessarily like you, understand you, or trust to do business with you. They will start to change their perspective when they decide to buy, through an action that inherently increases trust and affinity. To ensure prospective customers can make their first purchase, sell products that typically go for less than $20, and the smallest of sales they provide will offer a direct path of selling more. A business may initially make losses by selling a tripwire, but that is perfectly okay because the idea of a tripwire is making an upsell and cross-sell as well.

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