Most businesses have run a promotion or two. This is because it is a great way to draw in customers to the company, whether it is offering a service or a product. A successful promotion will see your company getting more sales in a short time while also increasing the chance for long-term customers. If you want your promo to be a success, here are a few tips that should help:
Choose The Right Type of Promotion
There are several types of promos out there. Though all of them are aimed at getting people to buy, each of them has a different approach. If you want a good promotion, then you will need one that will fit well with your business.
The most basic type of promo is just a blanket discount. This is a pretty simple way to sell your products. Of course, it cuts into your profit margin. It will be up to you to pick the right level of discount that attracts customers without you losing money. Another promo type involves giving away gifts for a specific amount purchased. You can also start offering discount coupons to attract people to your store.
The critical thing to remember is that your promo should work well with your business. Pick one that meshes well with your business or your goals. For example, if you’re hoping to promote customer loyalty, then offering discount coupons to loyal customers is often a good move.
Know Who You’re Targeting
Your business most likely has a particular demographic that it targets. Whether it is young male teenagers or older mothers, each demographic has an approach that works best with them. This is why you will need to know who exactly you are selling your product or services to and tailor your promo to them.
For example, if your main customer base is stay-at-home moms, you’ll want a promotion that appeals to their sensibilities. This is usually either through loyalty discounts or freebies from bulk purchases.
Use Surprise to Your Advantage
Everyone knows that stores have a sale during Christmas. The problem is that this often causes drops in purchases as people wait for the discounts rather than paying full price. This shows why promos shouldn’t be predictable. This is why you should never schedule a regular sale. When you do think of a promo, spring it as a surprise on your customers so that they wouldn’t delay their purchases or wait for seasonal events.
Let People Know
On the other hand, if people don’t know about the sale, then they won’t be able to participate in it. You should announce the promo with a good lead time so that you can have more people coming. Use multiple channels for advertising your promo. For example, social media announcements in Gaithersburg and other cities are sure to get you the exposure that you want.
Increase Value via Scarcity
When a promo goes on too long, it loses its value and people will think of it as an ordinary event. This is not what you want. You want your promo to be unique, and to do that you will want to limit access to it in some way. Have a set number of days for the sale or announce that the promo will only happen “until supplies last.” This hints at scarcity and increases urgency in people to participate in the transaction.
Any promotion is sure to get people’s attention. With the tips above, you can be sure that your advertisement will be a success. It will be up to you to turn that success into future sales and profits for your company.