11 Consumer Sales Promotion Tactics to Generate More Business Faster
Consumer sales promotion tactics are the strategies that businesses use to boost their sales during a particular time. The only way for a business to succeed is by gaining more customers and selling products or services. You must inform them about it and increase sales with the appropriate consumer sales promotion techniques.
Successful companies use sales promotions to boost sales, increase brand awareness, and improve customer satisfaction. All these factors are critical and ultimately drive more sales. You can find several examples of sales promotions that different businesses use. However, not all of them might be suitable for your business.
First, you can identify your business goals and plan sales promotion strategies accordingly. Here are some most effective consumers sales promotion strategies to drive more sales faster:
1. Discount Coupons
Offering products at discounted prices is one of the oldest yet most effective sales promotion techniques. The end-of-season sales are great examples of such discounts. Customers wait for end-of-season sales to purchase the products they couldn’t afford to buy during the season. Discounts are beneficial both for customers and retailers. Customers can buy more for less price, and retailers can clear their stock faster.
Apart from running seasonal discount offers, you can provide discount coupons to your customers for their next purchase. If customers have your discount coupons, they are more likely to return to your store before they expire. This is how you can drive repeat business and encourage customers to purchase more often.
2. Free shipping/returns
Consumers do consider the shipping cost while making online purchases, especially when it’s their first purchase from a brand. They are most likely to change their purchasing decision if high shipping costs are associated with a product. If your brand is charging a shipping fee on its products, you might be missing out on many potential customers.
Most customers don’t want to spend money on a product if they doubt its quality, usage, life, etc. With high shipping costs and no guaranteed returns, the overall price of the product becomes expensive, and the purchase seems riskier to the customer. Offering free shipping and guaranteed returns with a 100% refund reduces the customers’ fear of wasting money on the wrong product.
3. Contests & Giveaways
Running prize contests online or offline is one of the simplest and most efficient ways to increase brand awareness and boost sales. These contests create healthy competition among your customers, making it interesting for them to participate. Social media contests can be very powerful and bring unexpected results. Some common examples of social media contests include:
- ‘Top Spenders Offer’ under which the top spenders of the week or month are awarded. These contests aim to boost the overall business revenue.
- ‘Purchase to Win’ contests under which a brand chooses random buyers of a particular product as winners. These contests are focused on boosting the sales of the product.
- ‘Like, Comment, and Share to Win’ contests under which the participants are rewarded for sharing your brand’s official social media page with their friends. These contests are aimed at increasing brand awareness.
4. Buy 1 Get 1 Free
BOGO deals are the most popular consumer sales promotion tactics for retail businesses. The idea of getting two items for the price of one seems amazing to the customers. Businesses generally run BOGO offers to clear the stock or to encourage customers to purchase a newly launched product.
It also increases brand awareness as many customers share the free product with their family or friends. Though it is the same as a 50% discount, calling it a BOGO deal is more impactful as freebies attract more customers.
5. Free Samples
If you allow your customers to try your product for free, most of its buyers would have never bought it without trying it. Customers don’t want to spend money on a product without knowing whether it works for them or not. You can offer free samples of the new product with a popular product that most of your target audience knows about.
This has dual benefits. It boosts the sales for your main product and introduces your new product in the market. After trying the free sample product, many customers may buy it.
6. Flash Sales
Big discount offers become more effective when combined with limited periods. The duration can be anything between 24 hours to 30 days depending on your stock availability and customer interests. Flash sales develop a fear of missing out among your customers. Under these sales, products are offered at heavy discounts for a limited duration.
You can build excitement ahead of time by announcing the sale launch date. This creates a sense of urgency, and your customers buy their favorite products as soon as the sale is live.
7. Bundle Products
Bundle products or combo offers discounts on related products when you buy them as a bundle. For example, a combo of shampoo (priced at Rs 150) and a conditioner (priced at Rs 120) can be offered at a combined price of Rs 230.
This encourages customers to buy combo packs instead of buying only one product to save some money. Bundle offers can move your inventory faster as you sell more products with a low discount.
8. Loyalty Reward/Cashback Programs
Research has shown that gaining a new customer can be five times more expensive than retaining an existing one. This is why customer loyalty is important for every business. Running a continuous loyalty program is one of the best ways to motivate customers to stay loyal to your brand.
Loyalty programs can be of different types:
- Rewards-based programs
- Cashback-based programs
- Tier-based programs
Under these programs, your customers get rewarded every time they make a purchase. For successful loyalty programs, you need to make sure that you offer interesting redemption options against these reward points. These programs can retain customers only if the rewards you offer are valuable and useful for them.
9. Referral Discount
Referral discounts help you increase your market reach by encouraging your customers to recommend your brand to their friends. You can offer discounts to your customers and their referral friends when they purchase your products. The referral program becomes more efficient when you give a higher discount for more referrals.
You can also offer them incentives for sharing their experiences with your product on social media. Consumers believe in user-generated content more than a brand promoting itself.
10. Scratch Cards
Scratch Cards are like mystery offers. You can offer scratch cards with different discounts, such as 5%, 10%, and 25% discount. The customers only know their reward after they purchase and scratch the gift card. Human minds are curious, and curiosity makes them participate in the offer to see what they get inside the scratch cards. Once they get a discount, they will most likely purchase before the discount coupon expires.
11. ‘Spin to Win’ Contests
‘Spin to Win’ contests are one of the best ways to include gamification in your sales promotion and make it interesting for your customers. You can run a ‘Spin to Win’ contest on your website or offline store. Provide your customers with an opportunity to spin the wheel once every day. You can include reward points, cashback, discounts, and a few big prizes in this wheel.
Make sure that they win something most of the time. If not discounts and rewards, they should at least get a few reward points for spinning the wheel. They can redeem these rewards once they have collected significant points.
This motivates them to visit your website at least once every day. These contests also help you increase your brand awareness through word of mouth.
How Can RewardPort Help?
RewardPort is a reward and loyalty solutions providing company. RewardPort can help you plan and run a sales promotion strategy that works for your business and aligns with your customer interests.
The marketing experts at RewardPort take every business detail into account and run sales promotions exclusively for your business. Your marketing campaigns are not restricted to one or two platforms with RewardPort but are executed on multiple platforms, including on the web, offline, SMS, etc.
Frequently Asked Questions: -
Sales promotions aim to attract potential customers by reducing the prices of products. These techniques encourage customers to purchase a product they would not have bought at their original price. Sales promotions help you acquire new customers, boost sales, retain customers, increase brand awareness, and ultimately increase gross revenue.
Some most common mistakes to avoid when implementing consumer sales promotions are:
- Not defining your target audience
- Not being consistent
- Spending a lot on promotions without proper research
- Not tracking results to optimize future campaigns
Consumer sales promotions aim to increase your sale and volume of inventory churn. You may need to use sales promotion tactics to clear old and aging inventory, move stores, renew your stock, and counter similar challenges. All these activities can result in higher revenue, however, may reduce your profit margin.
Got a Marketing Challenge at Hand?
Three Rs of Effective B2C & B2B Consumer Sales Promotion
Effective consumer sales promotions can provide rapid growth to your business. Studies suggest that 90% of consumers make their first purchase after receiving an offer from a new brand. Also, more than 90% of consumers prefer to repeat purchases from a brand that offers good discounts on the first purchase. This data shows how important it is to plan and execute sales promotion strategies to acquire customers.
Not every sales promotion works for every business. To make the most out of sales promotion, you need to understand your business goals and customer interests first. Apart from this, there are a few factors you should consider to drive a successful sales promotion campaign.
Here are the three important Rs of effective consumer sales promotions:
1. Risk Aversion
Sales promotions must be focused on risk aversion, especially when the aim is to attract new customers or launch a new product. By allowing your customers to try your products for free, you can get them out of fear of wasting their money.
Customers who purchase your product after a trial may not even consider buying it without the experience. Most consumers avoid spending on a product that they are not sure about. Here is how you can include risk aversion in your sales promotions:
- Offer free samples under giveaway contests.
- Offer free sample products with other popular products.
- Offer free shipping and returns.
2. Reciprocity
The principle of reciprocity deals with human nature that expects a mutually beneficial relationship. An ideal sales promotion strategy benefits the brand as well as the customers.
Sales promotion techniques like discount coupons, loyalty programs, etc., are based on reciprocity. You can make your customers feel that they are getting something in return for their purchase with these benefits.
3. Reward
Rewarding your customers for every purchase can bring them back to your brand. Though one part of the reward is covered under reciprocity and risk aversion, you should have a separate program that accepts everyone.
These rewards aim to identify potential customers, attract them, and motivate them to stay loyal to your brand. Examples of such reward programs include gift promotions, giveaway contests on social media, etc.
Examples of B2C Sales Promotions
Sales promotions in B2C businesses are critical for business growth. The B2C sales promotions can be very effective in:
- Boosting sales
- Increasing brand awareness
- Building brand trust
- Driving repeat business
Discounts and other offers motivate consumers to make prepone their purchase decisions. Here are some most effective sales promotion techniques for B2C businesses:
1. Discount Coupons
Offering discount coupons for the next purchase is one of the most effective ways to drive repeat business. Whenever your customers make a purchase, you can provide them with a discount coupon for their next purchase.
These coupons must be valid only for a specific period, like one month or two months. It encourages your customers to keep shopping at your store more frequently.
2. Giveaway Contests
Giveaway contests work best for introducing a new product to the market or attracting new customers. You can run these contests on social media. Ask your followers to like and share your product launch post to win the product.
The more they share, the more their chances of winning. With this, you can make more and more people aware of your new product and gain more followers.
3. Flash Sales
Flash sales are short-term deals under which a brand offers some specific products at huge discounts. Flash sales will offer attractive discounts for a short period creating a sense of urgency for the customers.
As the deals are amazing, customers want cash on these discounts. They tend to prepone their purchases to benefit from the sale.
4. BOGO Deals
A ‘Buy One Get One Free’ deal is among the most widely used sales promotion techniques in B2C businesses. Though offering a 50% discount on a product is the same as a BOGO deal, the word ‘free’ has a greater impact on the human mind.
Combining these offers with certain limits makes them more effective. For example, you can run BOGO offers only on a particular day of the week or choose different days to run BOGO deals on different products.
5. Free Shipping/Returns
If your business is majorly online, you might be missing out on many customers by charging a shipping fee. Products with free shipping and return seem to be risk-free to the customers. Many customers change their minds at the time of final payment when the shipping cost is added to the price of the product.
The idea of offering free shipping and returns can be much more powerful than it seems to be.
Examples of B2B Sales Promotions
Sales promotions in B2B are different from B2C sales promotions. However, the impact can be equally good in B2B as well. Sales promotions can attract potential dealers and channel partners to your brand. Also, promotional offers can encourage your partners to give preference to selling your products and drive more sales. Here are some most popular B2B sales promotion strategies
1. Trade Shows
Trade shows are events where different businesses from a particular industry showcase their products to attract potential buyers. You can use brochures, displays, and other promotional materials to identify prospects and make your customers aware of the existing as well as new products.
The trade shows also allow you to gather information about your competitors. You can observe how your competitor businesses are presenting, selling their products, which offers they are running, etc.
2. Conventions
Participating in conventions or meetings with your industry professionals is also an effective B2B sales promotion technique. You can display your products and market them to the right audience.
For example, a textile convention allows you to display your sewing machine and its unique features. You can contact the market leaders in your industry and sell your products to them.
3. Advertising Allowances
You can give your channel partners trade allowances to encourage them to push a product. You can offer different incentives at all levels, i.e., to your wholesalers, distributors, and retailers, to boost the sales of a particular product.
Advertising allowance is a popular trade allowance you can offer to your partners and encourage them to advertise your products.
4. Sales Contests
Sales contests are incentive programs that businesses use to motivate their sales representatives to drive more sales. These contests generally focus on boosting sales for high-profit-making products. The more sales representatives sell, the higher incentives they receive.
The salesperson making the highest number of sales wins the contest. The winner can be awarded exciting prizes, such as a free vacation, monetary bonuses, a promotion, etc.
5. Free Merchandise
Free merchandise refers to a free product offered by the manufacturer to a partner or retailer to push a particular product to the market. For example, the manufacturer of formal clothing can gift a set of clothes to the staff of a high-performing retail store.
These gifts can be linked to the sales targets. The retailer can receive free items for selling a particular number of products within a pre-specified time.
Gamify Your Sales Promotions with RewardPort
You can attract more customers and retain the existing ones by offering discounts, rewards, etc. Including gamification in sales promotion builds healthy competition among your customers, making it more interesting for them to participate.
With RewardPort, you can plan and execute a sales promotion strategy with the latest tools and methods of consumer engagement. Whether it’s B2B or B2C, your sales promotion strategy should include rewards that modern customers value.
Frequently Asked Questions: -
Effective consumer sales promotions are the strategies that help a business - attract more customers, boost sales, and achieve other short-term business goals.
You can judge the success of your consumer sales promotions by comparing the sales figures before and after the promotional campaign. Another metric to measure the success of your sales promotion is customer satisfaction before and after the promotions.
Some common types of consumer sales promotion strategies are:
- Flash sales
- Discount coupons for future purchases
- Giveaway contests
- Buy One Get One Free deal
- Free shipping and returns
Got a Marketing Challenge at Hand?
9 Consumer Promotion Strategies for the New Online Business
Consumer sales promotion is an essential part of your e-commerce business. With thousands of e-commerce retailers competing for consumers’ attention, it’s increasingly difficult to build your customer base without a promotion strategy.
Starting a new online business is an exciting but challenging process. One of the key components of a successful online business is a strong consumer sales promotion strategy. Consumer sales promotion is the use of incentives and other promotional tactics to encourage consumers to purchase a product or service.
Or, more specifically, to purchase the product/service from you.
Consumer Sales Promotion Strategies
In this blog, we will discuss nine consumer promotion strategies for new online businesses using the keyword consumer sales promotion:
1. Discount Codes and Coupons
Offering discount coupons is a classic promotion strategy that has been used by businesses for decades. Online businesses can create discount coupons that customers can use to get discounts on their purchases. These coupons can be distributed through various channels such as social media, email, or through the website itself.
2. Free Trials
Offering free trials is a great way to encourage customers to try your products without any commitment. This strategy works particularly well for software and subscription-based services. By offering a free trial, you can convince customers to try out your product, and if they like it, they are more likely to purchase it in the future.
3. Buy-One-Get-One-Free (BOGO) Offers
BOGO offers a popular sales promotion strategy that is particularly effective for products that are bought in pairs or multiples. For example, if you sell socks or shoes, you can offer a BOGO promotion where customers can get one pair free when they purchase two or more pairs.
4. Free Shipping
Shipping costs can be a major barrier for online shoppers. By offering free shipping, you can encourage customers to purchase more products and increase their overall satisfaction with your brand. Some businesses offer free shipping for a minimum purchase amount, while others offer it for specific products or as a limited-time promotion.
5. Loyalty Programs
Loyalty programs are a great way to reward customers for their loyalty and encourage them to make repeat purchases. By offering exclusive discounts, early access to new products, or other perks, you can build a loyal customer base that will be more likely to continue buying from your business in the future.
6. Referral Programs
Referral programs are a great way to tap into the power of word-of-mouth marketing. By offering incentives to customers who refer their friends and family to your business, you can generate new leads and expand your customer base. Referral programs can take many forms, such as discounts, free products, or other rewards.
7. Flash Sales
Flash sales are limited-time promotions that create a sense of urgency and encourage customers to make a purchase quickly. By offering a steep discount or another incentive for a limited time, you can generate a surge of sales and create excitement around your brand.
8. Social Media Contests
Social media contests are a great way to engage with your audience and generate buzz around your brand. By asking customers to share your products, tag their friends, or create user-generated content, you can create a fun and interactive experience that encourages customers to engage with your brand and increase their loyalty.
9. Bundling Products
Bundling products is a great way to increase the average order value and encourage customers to try new products. By offering a bundle of complementary products at a discounted price, you can encourage customers to make a larger purchase and increase their overall satisfaction with your brand.
Consumer Sales Promotion with RewardPort
Consumer sales promotion is an effective way to encourage consumers to make a purchase and build brand awareness. There are many consumer promotion strategies that new online businesses can use to boost their sales and establish themselves in the market.
By offering incentives, discounts, and other promotions, businesses can attract and retain customers, encourage them to try new products, and increase their overall satisfaction with the brand. You can avail the best strategies in your marketing plan with RewardPort’s team of dedicated marketers, you can create a powerful and effective sales promotion campaign that will help your business succeed.
Frequently Asked Questions: -
A flash sale makes your consumer base feel compelled to make a purchase right away. Flash sales may therefore be one of your best options for sales marketing, especially if your company does a significant portion of its business online.
The main objective of promotion is to raise consumer knowledge of the available goods and services as well as the reasons why they are valuable. Although encouraging quick purchases through incentives, sales promotion also tries to market goods and services.
Encourages new clients: Sales incentives provide prospective clients with a risk-free opportunity to try something novel. Increases awareness: By running advertisements alongside your sales campaign, you'll attract more customers and raise your brand's visibility.
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How to Counter Product Return E-Commerce with Consumer Sales Promotion?
Product returns have been a significant challenge for online retail businesses. Every year about 20-30% of the products sold online face returns. That is not only a loss in revenue but also doubles up the costs for the sellers, not to mention damage to the reputation.
Handling product returns require a robust after-sale process, something which, small e-commerce retailer would find challenging to build. You can, however, work to reduce product returns and after-sale issues.
Addressing avoidable challenges like sizing, multiple purchases, and setting correct expectations are a few things every online retailer should consider. However, after this, you can also have specific consumer promotion campaigns to reduce the chances of returns even further.
The first thing to do before you start investing in consumer sales promotion campaigns is to estimate a budget. That will depend on how much product returns hurt your business overall. This is the maximum amount you should set aside for sales promotion to minimise returns.
How Product Returns Hurt More Than Your Reputation?
Not only do product returns result in lost revenue, but they also harm sellers’ reputations and customer loyalty. However, by implementing effective consumer sales promotion strategies, you can counter product returns and improve customer satisfaction.
The following expenses must be considered by a retailer when a product is returned:
- Labour: There will be labour costs associated with every step of the returns process, such as customer service, accounting reconciliations, shipping, warehousing, restocking, and reselling.
- Reselling: It may be necessary to repair or refurbish returned items before repackaging and reselling them if they are to be resold. The price of doing so may be far more than the selling price.
- Damaged Items: A product may need to be destroyed if it is returned in a damaged or unsaleable state, which means the retailer bears both the cost of the original purchase and the return.
Transportation: Costs associated with receiving returned items from a consumer can be high and may include paying for shipping, packaging, and labelling.
Consumer Promotion Strategies to Counter Returns
Now let us discuss how to counter product returns in e-commerce with consumer sales promotion:
1. Free Gifts with Purchase
Offering gifts with purchase is an effective way to incentivize customers to make a purchase and reduce the likelihood of returns. You can offer free products, samples, or other incentives to customers who make a minimum purchase amount.
2. Bundle Deals
Offering bundle deals is an effective way to increase sales and reduce the likelihood of returns. You can offer discounts on bundled products or services to incentivize customers to make larger purchases. Bundle deals can also help to increase the perceived value of your products or services.
3. Limited-Time Offers
Creating a sense of urgency can encourage customers to make a purchase and reduce the likelihood of returns. Offering limited-time promotions, such as flash sales or daily deals, can create a sense of urgency and motivate customers to make a purchase.
4. Discounts and Coupons
Offering discounts and coupons can incentivize customers to make a purchase and reduce the likelihood of returns. You can offer discounts on specific products or entire orders, and advertise these promotions through various channels, including email, social media, or your website. Coupons can also be offered to new customers as an incentive to try your products or services.
5. Free Shipping
One of the most common reasons for product returns is high shipping costs. By offering free shipping, you can incentivize customers to make a purchase and reduce the likelihood of returns. You can also offer free shipping for a minimum purchase amount to encourage customers to increase their cart value.
6. Loyalty Programs
Loyalty programs are designed to incentivize customers to make repeat purchases and reduce the likelihood of returns. You can offer exclusive discounts, reward points, or early access to new products or services to customers who join your loyalty program. Loyalty programs can also help to build long-term relationships with customers and improve customer retention.
7. Personalised Promotions
Personalised promotions are tailored to the individual needs and interests of your customers. By using data such as past purchases, browsing behaviour, or demographic information, you can offer promotions that are relevant and personalized to each customer. Personalised promotions can increase customer satisfaction and reduce the likelihood of returns.
8. Referral Programs
Referral programs are an effective way to incentivize existing customers to refer new customers to your business. You can offer incentives such as discounts, credits, or free products to customers who refer others to your business. Referral programs can help to increase customer acquisition and reduce the likelihood of returns.
9. Personalised Customer Support
Providing personalised customer support can help to reduce the likelihood of returns. By offering personalised support, you can address any concerns or issues that customers may have and improve their overall experience with your business. Personalised support can also help to build long-term relationships with customers and improve customer retention.
Run Effective Consumer Promotion Programs
Product returns can be a significant challenge for e-commerce businesses. However, with RewardPort’s effective consumer sales promotion strategies, you can counter product returns and improve customer satisfaction. By offering free shipping, discounts, gifts with purchase, loyalty programs, personalized promotions, limited-time offers, referral programs, bundle deals, and personalized customer support, you can incentivize customers to make a purchase and reduce the likelihood of returns.
Frequently Asked Questions: -
Consumer promotion is a marketing tactic intended to persuade customers to make larger purchases. Consumer sales promotion has two purposes: to increase brand recognition in the marketplace and foster brand loyalty among current customers, which in turn helps to increase sales and conversions.
Consumer promotions are short-term strategies created to fulfil short-term goals. Consumer sales promotion strategies can help you encourage purchases, boost in-store traffic, or just create excitement for your products or brand.
Companies can utilize a variety of sales promotion strategies, such as coupons, rebates, free samples, contests, prizes, loyalty plans, volume discounts, and point-of-purchase displays.
Got a Marketing Challenge at Hand?
8 Proven Strategies for Boosting Consumer Sales With Promotion
Consumer sales promotion programs help a company increase sales and achieve its revenue targets. A company can increase sales by using effective sales promotion strategies. A strong sales strategy can also increase sales, and when used together, they are sure to increase both sales and revenue.
Measures and initiatives that aid businesses in boosting sales are known as consumer sales promotion tactics.
When sales are slow or poor, a business or business complex needs effective sales methods. Now is the ideal time to increase sales.
Effective consumer sales promotion strategies are crucial for all businesses, especially for the e-commerce firms:
1. Use Advertisements
Although it doesn’t always need much, there are occasions when it makes sense to spend money to earn money. Even a tiny budget can be productive and increase leads with the correct advertisement. All you need to do is understand who your target audience is, how to reach them, and where to reach them. Depending on where your customer is, think about using Google, Facebook, and Instagram ads.
It’s a good idea to conduct tests when including adverts in your plan to boost sales. You may better understand your audience, learn how to create advertising, and make sure your marketing dollars are being used wisely by doing ad testing.
2. Make "Insider Information" a Priority
Everyone likes a good deal, and your consumers will become more loyal to and trusting of your company when they feel like they have the inside track on impending sales or are given early access. They might even purchase more as a result.
This applies to all types of promotions and sales. Current and returning consumers will rapidly become invested in the company if you keep them informed about new products and company developments.
3. Implement a Program for Referrals
Everyone likes to feel valued and rewarding your clients for referring their friends and family members is a terrific way to do this.
Use upcoming discounts, points for awards, freebies, exclusive access, etc. to entice current customers to promote your business.
This will not only help you keep in touch with your consumers, but it will also help you generate new leads that are more likely to purchase because they were referred directly to you, all without putting in any extra work on your end.
4. Selling the Benefit Rather Than the Product
People don’t buy items; instead, they purchase the outcomes a product will produce. It will be easier to concentrate on the advantages of your product or service if you keep in mind the “help” not “sell” approach when promoting and selling it.
It appears more genuine when you first try to help others rather than being aggressive or just out to make quick cash. Additionally, it serves to remind them of the value you offer in your goods and services.
5. Ensure That Your Messaging is Understood
Clarity is essential while learning how to advertise a good or service. In all the content that is a part of your sales and marketing plan, choose one to two major benefits that your product delivers and make sure to clearly explain them. By doing this, you can make sure the narrative you’re presenting about your product is consistent throughout all your marketing platforms and that your target audience understands exactly what you’re offering.
6. Gift-With-Purchase Program
After attempting several of the other sales strategies on this list, you may find that including a gift that your customers can value is an effective alternative to increase sales. For example, adding a toothbrush with toothpaste.
Conduct a detailed cost analysis, assess how your gift compares to those of your rivals, and gauge how valuable is your gift for your consumers.
Adding a complementary product as a free gift is a proven strategy to attract customers. However, you can also consider surprise gift, lucky draw, cashbacks and sweepstakes, to make your gift-with-purchase unique and more interesting.
7. Search For Chances to Upsell Customers
You should always be looking for opportunities to upsell consumers, so they purchase more each time.
What goods or services can they get that will enhance what they already buy?
They will probably say “yes” to you more and more as you establish your worth and gain the loyalty of your clients.
8. Use Incremental Savings
Consider offering discounts for larger purchases, such as free delivery on orders over $100, to encourage your clients to make more purchases.
When marketing a sale, think about providing a greater discount on larger purchases, such as 15% off orders over $250 and 25% off orders over $500.
They get more of a discount the more they spend.
How Does RewardPort Improve Your Sales?
You may be seeking a solution to assist you now that you are aware of how crucial sales marketing methods are to your company. RewardPort provides tactics for sales promotion to assist you in expanding your company. RewardPort is at your side to help you reach your objectives if you’re seeking efficient programs for customer loyalty and sales growth.
RewardPort offers specialized programs for creating marketing and sales promotion strategies. We provide the best strategies for all business models.
Examples of the ideas offered in RewardPort include creating the greatest sales campaign, appealing to the audience and the consumer, and techniques to entice the buyer to make further purchases. You can speak with our professionals to use our products.
Got a Marketing Challenge at Hand?
8 Sales Promotion Ideas to Stand Out and Get Noticed
Sales promotions are limited deals designed to quickly generate income by luring customers to make purchases or increase brand recognition. Although this marketing tactic is frequently used in business-to-consumer (B2C) e-commerce, retail, or restaurant industries, business-to-business (B2B) suppliers might also benefit from it depending on their objectives.
We’ll discuss sales promotions in this blog, look at some innovative promotional ideas for B2B companies, and offer important advice on how to carry out a sales promotion effectively.
1. Punch Cards
Punch cards are loyalty cards that have a predetermined amount of stampable icons on them that can be added to after a customer makes a purchase, typically in-store. When all icons are stamped, a customer is rewarded, frequently with a discount on their subsequent purchase or a free gift.
With this kind of sales promotion, you can entice people to keep buying from you so they can get the reward you’re offering at the end.
2. Referral Promotions
You can offer a discount on their first purchase from you by providing your current customers with a referral code to share with someone they know. The owner of the referral code will also receive a reward, which may encourage them to suggest you to others if they stand to gain something in return.
3. Promotional Bundles
Bundling-based promotions differ differently from buy one, get one free offer in that you combine complementary goods for a discount rather than the same product or service. Accounting businesses in the B2B market provide discounts for combining tax preparation and bookkeeping services because of the two-work hand in hand.
4. Promotions Based on Quality
A quality or best-fit promotional discount can have the same effect as lifestyle-based discounts in that it can start a paying relationship on a positive note and retain a customer over time. But in this instance, you’re deciding who gets the discount based on the quality of the lead, fit, or whether they fit a consumer persona you’ve developed, making them a highly qualified prospect.
Since many suppliers of B2B goods or services frequently have specialised markets or specific expertise, this campaign may be an effective B2B sales tactic. If they come upon the ideal opportunity, they might seal the transaction by offering that company a sizable discount.
5. Sign-up Specials
A sign-up sales promotion entails extending a discount just to new customers. Customers may be motivated to complete a purchase if they can make a first purchase at a reduced price, therefore it can be a useful strategy for boosting sales and attracting new clients.
6. Applications-only Promotions
Running an app-only offer is a fantastic method to market your company, giving customers discounts only for installing or using your mobile app to make purchases.
7. Deals for Customers Who Fit Best
Offers should be made to customers who are about to choose your goods. Be honest about whether they would be a good fit for your company as well. Promote prospects who are actively working toward a close, conversing with you and negotiating with you, and seriously considering using your goods or services in their company.
8. Feedback Rewards
For instance, once a customer makes a purchase, you may give them 10% off their subsequent purchase in exchange for their participation in a customer satisfaction survey. Customers might then be enticed with a discount to conduct a repeat buy.
Statistics About Sales Promotions
Interested in learning the real story behind sales promotions? These statistics provide a clear image of its effectiveness, which techniques are more effective than others, and how well clients responded to varied tactics.
- Product bundling generates 10% to 30% of online sales, according to research
- Referrals, whether generated by marketing initiatives or not, have conversion rates that are 30% greater than those of other lead sources
- 80% of consumers will test a new brand if a discount is provided
- Regardless of whether they had purchase intentions before receiving a promotional coupon, nearly two out of three consumers will make a purchase
- About 48% of customers won’t even interact with a brand if they don’t have any special offers
Bottom Line
Sales promotions are a great method to boost sales, create leads, and raise brand recognition. It’s critical to have a clear plan regarding the campaign’s scope, duration, and target audience even though each sort of promotion differs from the others and RewardPort is here to assist with all your needs. After your campaigns are finished, be sure to follow up and try to strengthen your current client relationships for long-term benefit.
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5 Superb Sales Techniques to Reach Your Consumer Faster
Everyone has something they can market, whether it’s an item, a service, or some essential information. However, gaining customers and increasing sales from that service, item, or piece of knowledge are the only ways a business can prosper. However, you can’t just sit back and hope that someone would come across your product and buy it. Sales growth is the result of carefully planned sales methods that are created and implemented. To boost sales, you must either expand the audience you sell to, improve the goods you sell, improve your messaging, or do all of the aforementioned.
1. Be methodical when creating leads
The first step is to make sure that your firm generates enough leads consistently to sustain a steady flow of business. Too many business owners are determined to put out regular fires instead of thinking about their long-term aims.
- Establish goals for how many prospects you want to have in the funnel at any one time.
- To reach those goals, schedule the number of visits you want to have each week with potential clients.
- The remaining time should be used to manage your ongoing sales efforts.
- Although it’s not always the simplest element of your job, generating leads is essential if you want to create steady sales.
2. Understand the sales cycle
Your sales cycle, which is the period of time between meeting a potential customer for the first time and closing a deal, will be determined by the type of business you’re in. This can differ significantly amongst businesses. Your sales cycle can only be increased greatly when you offer good products at the time of redemption for the customers through game vouchers and gift cards. But you need to be aware of how long it often takes you, in days, weeks, or months.
To determine how long your sales cycle is:
- List the 20 most recent closed sales you’ve had
- Note the duration of each
- Calculate the median
- Using Customer Relationship Management (CRM) technology can also help you discover your best customers, target particular demographics, and obtain a better understanding of your sales pipeline.
3. Understand numbers
Every business needs a certain number of prospects at all times just to keep up sales. Consider the usual sales cycle as well as the quantity of closed transactions you desire each month. The proportion of contacted prospects who made purchases is another important statistic to be aware of. Make the best customers through your products such as game redeem code, best loyalty programmes, redeem game voucher. With the aid of these figures, you may establish objectives for your company.
Example:
Your company wants to sell three things each month. An average sale is closed four months after the client is first contacted. You have a close ratio of 25% if one out of every four prospects your sales team contacts end up making a purchase.
In this case, you can be certain that you will close three transactions each month as long as you keep 48 active leads at any given time. It’s that easy. You will need to keep a list of 64 active prospects if you decide one day to boost your monthly production to four closed transactions, for example. With this knowledge, business owners are better equipped to provide their salespeople clear, measurable goals.
4. Active referral-seeking
Obtaining recommendations from happy customers is a general rule for any firm. Asking for a referral directly can be difficult, so one approach to avoid it is to encourage customers to mention their customers and suppliers about the products or services such as best loyalty programmes, redeem game voucher, game gift cards and others.
If a possible customer comes up during a conversation, you may ask them if it’s okay to call Tom and explain that you spoke with him. Describe yourself and say something like, “I was thinking it would be a good idea for us to gather up. Consider next Tuesday.
5. Be prepared for pushback
Be ready for typical objections, especially when conducting cold calls. Typical adverse reactions include:
I have to deal with someone else.
I’m overworked.
This is not the best time.
Send me some material first, and then we can discuss.
You will lose the prospect’s interest if you are not prepared with succinct responses. Get ready to respond by practicing your exact words in advance. It’s critical to understand their concerns before attempting to cast a more favorable perspective on them.
Conclusion
Sales promotion is one of the essential elements of the promotion mix. Keeping your needs in mind RewardPort develops a variety of sales campaigns that resonate with your target market in order to establish lasting relationships with your customers.
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8 Unique Sales Ideas Used For Promotion Across The World
Every marketer desires more leads, signups, and subscribers while spending as little money as possible. Every day, businesses and causes of all sizes compete for your attention and persuade you to buy their products, embrace a category, change your opinion of their company, support their cause, or vote for their candidate.
Some marketing and advertising campaigns have done that job more convincingly and
memorably than others over the years. Many have survived the test of time.
Competing at the Bottom of Funnel
Every company wants to steal customers from competitors, but few make it their top priority. If you have a competitor who offers a similar product but isn’t providing great results for its customers, you have an opportunity to target those people.
Flash discounts, coupons, and limited sales, this space is filled with quick-fix strategies to divert aware consumers to your brand.
Start A Referral Program
Referral marketing may be your best bet for quickly increasing your followers. Customers can promote your product for you through referral programs. It’s a simple concept, but it’s underutilized by small businesses.
To pay actors or sports figures, you don’t need the budget of a major corporation. “Real” people are often more effective influencers than celebrities.
Try To Hold Photo Contests
Photo contests are a low-cost and simple way to engage potential customers with your brand. They’re simple to enter (anyone on Facebook or Instagram can submit a photo with your specific tags), and they provide you with great user-generated content that you can reuse on other channels.
Provide the winner with a special prize or discount, and don’t forget to ask them to share something about your brand to be considered.
Imitate the Experts
Sometimes being creative entails imitating someone else. It may appear counterintuitive but doing what has already worked for someone else can greatly benefit your business. While the audience and subject matter of the content may differ from yours, it’s a good idea to look at what other brands are doing well and learn from them. Examine the headlines, content structure, and how they promote the posts.
Make Your Product A Challenge
One of the most difficult aspects of viral marketing campaigns is tying the viral content back to the company’s actual products. You can achieve two goals by going against the grain and making your product the focal point of your viral marketing campaign.
Food companies, for example, ask their customers to create the brand’s next great flavour.
To make this work for you, identify the need that your product fills and turn it into a challenge for others to fill. They’ll be forced to keep your brand at the forefront of their minds throughout the process.
Begin Your Company as An Invite-Only Platform
We want what we can’t have as consumers. If you’re just getting started, consider opening your website to an exclusive list of customers to generate interest. Consider the early days of Facebook and Pinterest.
When only one person has access. Their friends will also want access.
Make Use of Popular Hashtags
Participating in weekly hashtag themes (via Twitter), such as #FlashbackFriday or #ThrowbackThursday, can help your brand get the attention it deserves. You become an active participant in the community and have access to an audience far beyond your typical follower count.
Active and regular participation with hashtags that thousands, if not millions, of people, are already using also increases your followership and visibility.
Distribute Stickers
Stickers may appear to be a ridiculously simple way to grow your business, but they can have a significant impact. You can get a lot of eyes on your brand by giving away free stickers (or other quick, easy, and cheap marketing swag) and encouraging people to post them in public places.
Real Life Success Stories with Unique Sales Ideas
Volkswagen: Think Small
The Volkswagen Think Small campaign is widely regarded as the greatest print campaign of all time, as well as one of the most successful campaigns before the rise of television. Before their 1959 campaign, automobiles were regarded as powerful and fashionable status symbols.
Volkswagen went in the opposite direction, which turned out to be a great move because it forced car norms to be reconsidered. They enticed readers with the “think small” slogan, and once they were hooked, they drew them in with the benefits of Volkswagen.
Commercials for Apple's Mac vs. PC
Commencing in 2006, Apple produced a series of commercials that featured two people, one of whom was a Mac and the other a PC. The Mac was a young, attractive man, whereas the PC was an older gentleman who stumbled over his words.
They would simply talk about the various things they could do, with the PC always seeming to struggle to keep up with the Mac. PCs in some commercials were unable to communicate with other devices such as digital cameras. In others, the computer would repeatedly freeze or restart.
Dove: Real Beauty
Before their most successful marketing campaign, Dove was negated by numerous brands in a crowded market. They discovered that only a small percentage of the women interviewed thought they were beautiful, which prompted them to launch their campaign.
The campaign helped to broaden the narrow definition of beauty and get people involved in making women feel empowered about their appearance. The campaign was so successful that it inspired other brands to follow suit.
They took a sensitive but popular topic for their customers and created ads based on what their customers believe rather than what is true. Even though it was a simple campaign, it had a significant impact.
Lipton Green Tea
Lipton Green Tea created a shopping cart that tracks your steps, calories burned, and time spent moving at the grocery store to encourage consumers to make healthier choices while shopping.
The cart, which is aimed at people who are too busy for regular exercise, is designed to show customers how many calories they can burn just by walking around the grocery store. The hope is that if they can see how many calories they’re burning in real-time, they’ll reconsider what they put in their shopping cart.
Uber POOL
Uber’s in-house marketing team launched a guerrilla campaign in Mexico City as part of a major advertising push in Latin America, sending out a small army of drones outfitted with cheeky signs promoting Uber POOL. While stuck in rush hour traffic, drivers were confronted with small planes and their mini billboards.
Although they do not intend to replicate the stunt in other markets (because doing so in the United States or Europe would necessitate significant bureaucratic hoop-jumping), the stunt garnered significant media coverage for the car service app.
Conclusion
Coming up with an unusual advertisement can be difficult. First, you’ll need to conduct a series of creative brainstorming sessions. Then, you must ensure that your campaign is understandable and captivating to the audiences to whom you present it.
One way to see if people will truly understand and engage with your unusual campaign is to first present it to a focus group.
One of the most important components of the promotion mix is sales promotion and RewardPort creates various types of sales promotions that work with your target audience to build long-term relationships with your customers.
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Brand Loyalty in Modern Marketing: Ways to Improve It and Retain Customers
As an entrepreneur or marketer, you are probably intrigued by some brands that have a cult-like following. Their customers remain loyal to them for nearly a lifetime and make repeat purchases whenever they require that specific product or service, regardless of price. Such brands can be found in every industry and come in a variety of sizes and shapes.
Value of Brand Loyalty
Brand loyalty has proven to be extremely important in creating iconic brands and retaining customers for an extended period, even a lifetime.
The following points emphasize the significance of brand loyalty for any type of business:
• Lower acquisition costs
You must be aware that the cost of acquiring a new customer is five to seven times that of retaining an existing one. This is where brand loyalty comes in handy. An effective brand loyalty program can lower the cost of acquiring new customers by keeping existing customers loyal and enticing them to make repeat purchases.
• Retargeting and remarketing made simple
According to one recent study, businesses are only 5 to 20% likely to sell their products or services to a new prospect while they are 60 to 70% likely to sell to an existing customer.
• Increased customer trust
Customers have exceptional trust in successful brand loyalty programs because they focus on delighting and exceeding their expectations every time. This gives them a significant competitive advantage and allows them to charge a higher price for their products and services than their competitors. Despite charging a premium, they retain most of their customers and receive consistent repeat purchases.
Top Ways to Increase Brand Loyalty
Before making a purchase, modern customers scour websites and research the products they intend to purchase.
You can’t rely on traditional methods to generate loyalty when customers are 60% to 80% of the way down the funnel before speaking with anyone at your company.
At the same time, fewer customers remain loyal to a single brand.
Loyal customers are profitable customers because they are less expensive to market as they purchase more frequently. However, only 27% of initial sales become repeat customers. Companies must invest in cultivating customer loyalty.
• Begin with your employees
If you want satisfied customers, start with your employees. Customers notice and feel it when they are appreciated, valued, and included. Call your boss and co-workers. Inquire how they are doing and what you can do to assist them. Be adaptable. Be adaptable. Make communications more personal. Employees will then pass it on even if their boss is not looking! Loyalty spreads like wildfire.
• Maintain Contact Between Projects
Maintain contact with current and former customers in between projects. Customers can stay informed about your service offerings by receiving a client-focused newsletter regularly. When comparing the cost per new lead versus the cost of retention, a client discount is also a great incentive and a justified expense.
• Connectivity and functionality should be combined
The combination of brand functionality and emotional connectivity is redefining brand loyalty. Products and services must not only solve a problem but also reflect the views and preferences of the customer. Marketers who strike this balance will build stronger, more intimate relationships with brand ambassadors.
• Engage your customers
Connecting with your users aids in the development of a sense of belonging and community. To get your users excited and engaged, share your brand’s new and exciting developments, as well as news and opinions in your industry.
You can use social media to inform customers about new trends, special deals and discounts, and your company’s next steps. The more like a conversation it feels, the better.
Another way to keep your existing customers happy is to recognize their needs before they even realize they have them. Predict what your customers are likely to want using your customer behavior data, and then provide it to them.
A simple Thank You note, Happy Birthday or Happy Holidays greeting will also go a long way. Customers in any industry want to know that you care about them outside of business transactions.
• Personalize programs
When it comes to brand loyalty programs, there are numerous reward and incentive options available to keep your customers engaged and loyal. Most successful brands use a variety of options, including points programs, hybrid loyalty programs, tiered programs, fee-based loyalty programs, and others. Using a variety of loyalty programs can be extremely appealing and valuable to various customers.
• Create a distinct brand position
Nothing beats your company’s distinct brand position when it comes to increasing brand loyalty. Unique brand statements are created by strong brands to highlight their brand values, unique selling propositions (USPs), and market position.
A distinct brand position communicates what distinguishes your company and the value it adds to the lives of your customers. Create a distinct brand position that resonates with your target customers. Determine what distinguishes you from your competitors and list the strongest points of your brand that distinguishes it from the competition.
• Channel sales partners should be rewarded
The comprehensive and multi-pronged nature of the brand loyalty program is its best feature. Working with the right channel sales partners and providing them with appropriate rewards and incentives is one of the most effective ways to boost your brand equity.
A brand can benefit greatly from collaborating with the right channel partners and creating personalized and tailored rewards for them. It will encourage channel partners to prioritize one brand over others, thereby improving brand identity and equity.
Appropriately rewarding channel partners create a virtuous cycle that tends to pass the benefits on to the end customers.
• Increase loyalty by using reciprocity
Reciprocity is a social construct proven to increase loyalty. Kindness creates a sense of obligation in the recipient, who instinctively wants to repay the kindness.
There are two types of reciprocity, and both can be used to increase customer loyalty to customer service.
A surprise gift or gesture is surprise reciprocity. For example, if you send your customer free swag or tickets to a company event without warning.
Trumpeted reciprocity occurs when someone gives or does something beneficial in a way that demonstrates that they are going above and beyond. It doesn’t mean you have to document and report on everything you do, but it should be clear to the customer that what you’re doing is outside the normal scope of the working relationship. Giving your customer early access to a new product or feature is an example of this.
Conclusion
Loyalty marketing is critical for building long-term relationships with customers who spend more money with you. With loyalty scheme members generating 12 to 18% more revenue per year than the average guest shopper, it’s no surprise that loyalty marketing is so popular among brands.
Frequently Asked Questions: -
Building brand loyalty is what propels growth. Customers who become 'brand loyal' after purchasing your products will become repeat customers. They will, however, recommend you to their peers and act as ambassadors for your products in the real world.
Existing customers are much easier to sell to, brand loyalty increases the likelihood that an existing customer will try a new product; in fact, you're 60-70% more likely to sell to an existing customer than a new prospect.
Brand loyalty is not extinct. In fact, it is simply evolving, but it is more relevant than ever. The most significant change is that brand loyalty messaging is increasingly being generated by customers. Social media, reviews, and word-of-mouth can either help or hurt your brand.
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Top Sales Promotion Trends To Emerge Post Coronavirus
Any form of promotion during Covid is quite a sensitive matter. There is a very fine line between notifying your customers and annoying them. If you are planning to get in touch with your customers, then you must know that by the time your communication reaches them they must be already annoyed to the core with hundreds of emails lying unopened in their mailboxes with subjects on Covid.
So before you initiate the promotions, you might want to check out the sales promotions trends that would emerge during this pandemic.
The language of all the promotional communication ought to be sensitive and empathic. If the customers find you lacking compassion they won’t bother to engage, let alone buy your brand. Maintaining that human touch during campaigns has become more important now than ever. When informing your customers about your processes and policies during Covid, brands need to show that they are being responsible.
Creativity and joyful communication is going to play a big role during sales promotion campaigns.
With customers getting bored, locked in their houses, brands can make use of this opportunity by spreading some joy among their customers with the help of creative and engaging campaigns. This will not just help in better and easier conversions but also give a good brand recall value.
With most of the media houses and studios shut, use of social media influencers would be a great idea at this point in time. According to a survey conducted by Hammer Kopf Consumer Surveys, amid the lockdown, in India, there has been 87% increase in social media usage. Brands should utilize this trend and hire relevant and authentic influencers for the sales promotion campaigns.
Offer discounts and promotions.
BOGO (Buy one Get one) is here to stay. The purchasing power of the consumers has been immensely affected. Also it has been observed that the consumers who can afford to buy are delaying purchases. A slashed price would motivate the consumers to make the purchase without further procrastination. Along with price cuts, there can be all forms of BOGO offers.
Free samples of products or online trials of services is a great way to launch a new brand during Covid. When giving out samples, make sure that the consumers know about the safety policies that your brand is following like contactless deliveries, best practices of hygiene and so on.
Offer discounts and promotions.
BOGO (Buy one Get one) is here to stay. The purchasing power of the consumers has been immensely affected. Also it has been observed that the consumers who can afford to buy are delaying purchases. A slashed price would motivate the consumers to make the purchase without further procrastination. Along with price cuts, there can be all forms of BOGO offers.
Free samples of products or online trials of services is a great way to launch a new brand during Covid. When giving out samples, make sure that the consumers know about the safety policies that your brand is following like contactless deliveries, best practices of hygiene and so on.
Apply Targeted Promotions.
Something that your consumer needed earlier may not be required now. It is important to understand their needs and accordingly craft the promotion strategies. According to a Harvard Business study, regardless of which group consumers belong to, they prioritize consumption by sorting products and services into four categories:
- Essentials: are necessary for survival or perceived as central to well-being.
- Treats: are indulgences whose immediate purchase is considered justifiable.
- Postponables: are needed or desired items whose purchase can be reasonably put off.
- Expendables: are perceived as unnecessary or unjustifiable.
It is important for brands to classify their products or service and bundle it appropriately to have a successful campaign with a desired outcome. For example: Bundling an essential item with a treat can become quite a desired combination for a customer.
Giving out ‘At-Home reward’ coupons or gift vouchers is another unique way of sales promotion during this pandemic. Now that everybody is at home, brands should switch to rewards that can be redeemed at home, online. For example, they can give away reward coupons for online streaming channels, food delivery apps, online learning platforms, fitness apps, e-commerce websites and so on.
RewardPort specializes in loyalty marketing programs, corporate loyalty card, dealer incentive programs, dealer loyalty, channel incentive, distributor incentive program, B2B loyalty programs, customer loyalty cards & marketing partner programs. Get a free consultation today.