6 Sales Promotion Tricks (You Didn’t Know About)
Sales promotion is the life-force of every start-up business, and without it, a firm can rest assured that it will sink.
So, for business people on a quest of finding the most efficient sales promotion techniques, here is a list of tricks you could incorporate into your Campaign for improved chances of success.
Kindly note that tricks discussed in this blog post are centered on you “doing something nice” to your clients, for increased revenue and a positive brand impression in return.
After all, sales promotion may be the only marketing technique that creates exhilaration while abiding by the age-old law of reciprocity.
"Do something nice to someone, and they’ll have a firm psychological urge to do something nice in return."
Without further delay, let us skip to the main section of the post and discuss six sales promotion tricks you hadn’t considered to try out.
1. Discounting Products
Discounting products is the most basic form of sales promotion. Prospects can travel extra miles just to buy discounted products at a given store, so offering discounts from time to time is not such a bad idea.
To execute an effective discount promotional campaign, consider what will look more attractive to your customers.
Some clients prefer cash discounts while other prefer quantity discounts.
Nonetheless, constantly think about your bottom line and do not make offering discounts the norm. Here’s the breakdown; make your discounts attractive, consider your bottom line, and do not overdo it.
2. Product sampling
Ever wondered why big-box retailers and supermarkets offer you free testing samples as you stroll around their shops?
Well, according to a study by Marketing-Bulletin, product sampling campaigns can skyrocket sales by up to 1000%.
Prospects have been known to make purchase decisions based off emotions.
3. Loyalty Reward Points
Loyalty Reward Points have become a new type of currency in the realm of promotions. From simple punch cards to elegant programs offered by airlines, clients yearn to earn prizes, provided they are creative, achievable and offered by a business with their best interests at heart.
Offering Reward Points is a great way to boost your firm’s net income while rewarding your loyal customers for their continued efforts.
4. Branded gifts and giveaways
As mentioned before, every customer will appreciate a freebie product.
Not only do freebies give prospects the chance to test your products, but they also provide them with a reason to choose your product over your competitors’ the next time they go shopping.
If giveaways might have a negative impact on your profit margin, then think about awarding branded gifts to customers after purchases instead.
These gifts can be affordable products such as pens, magnets, bumper stickers, or key chains.
5. Holiday Promotions
Holiday promotion campaigns are always successful and with good reason.
Customers tend to spend more during holidays, making it the perfect window of opportunity for you to enact your holiday promotion campaign.
6. Customer referral incentive programs
Among the best ways to boost sales is to avail your already existing clients.
Offer bonuses, significant discounts, and incentives to your already existing customers in exchange for referrals.