The fight for customer attention is very tough, and every company in the market is fighting over the chance to grab customer’s attention. The question here is- how many of them are successful in doing so? Are they achieving what they had targeted for?
For some the answer is yes, while for others it’s a big no. The reason being that the competition out there is neck-to-neck, and when it comes to sales strategies there is no holy grail or set standard procedure. However, there still are certain tips and tricks to help you increase and elevate your company’s sales.
Tips for Better Sales Strategy
- Selecting the right target audience
- Rapidly changing customer needs
- Best experience makes the sale
- Selling a solution to problems
- Devise a good sales promotion strategy
Decoding Sales Promotion
A consumer sales promotion or sales promotion is a marketing strategy often used by different brands to create awareness for their products and boost their sales. These promotional activities or campaigns are available for a limited time which creates a sense of urgency among the customer and influences them to make the purchase.
These strategies are valid for both B2B or B2C companies, the only difference is the target audience and the process of promotion. Below we have listed various sales promotion activities often used by different companies.
- Free Samples
Companies often distribute free samples when they are launching a new product in the market. This strategy offers dual benefits to the brand, first they are creating awareness about the coming product.
Secondly they are creating a trust bond with the target audience by handing them the products. These free samples encourage customers to try and even offer their feedback and reviews on the product.
- BOGO Offers
Buy one get one offer is used by various companies for one major reason, clearing out the stock of the product that has not been selling great. This is an added advantage for the customers as they are getting a good deal of two products at the price of one.
Additionally, this combo offer attracts more customers to your product and brand, eventually increasing the sales.
- Free Trails
Allowing one time, 15 days or 30 days free trial is a very common practice that we have seen usually in certain gyms, mobile applications, automobiles and OTT platforms. This allows the customers to try your product, gain some confidence and then make the purchase.
This strategy allows customers to build trust in the brand before making a purchase and offers the brand to provide the best experience to ensure the sale.
To offer clients with this service RewardPort has designed Subscription Nation. With this you can send gifts or free trials for a limited period of time 3,6, or 9 months as per your convenience.
- Free Gifts
When we shop from a particular store or brand quite often, at times we have received certain free gifts. These are loyalty programs run by the brand to reward the customer loyalty toward the particular brand.
However, at times free gifts are also distributed to customers in a random selection process. These free gifts provide a sense of recognition and bonding between the customer and the brand which ensures more purchase by the customer.
- Cashbacks
From a customer’s perspective getting a cashback because you just spent some amount of money on a purchase feels rewarding. It is exciting to receive money because you spent some money.
These cashback offers allow customers to make purchases of a certain amount which is one of the most common consumer sales promotion strategies being used by different brands.
- Contests
Often there are different contents running in stores offering certain prizes, or a discount to customers. This creates a sense of attachment with the brand as you get involved in these contents, be it in the offline store or on the websites.
These contests can be categorised as spin the wheel, scratch & win, lucky draw, or first ten customers. This consumer sales promotion strategy is built to engage the customer with the brand and feel the connection between the two.
Scratch2Win by RewardPort can be integrated into your brand for introducing the factor of gamification and offering rewards to your customers. With Scratch2Win customers can scratch the cards and will be awarded with some gifts, making it more exciting for the customers.
- Coupons
Discount coupons are one of the most common approaches to consumer promotion. On purchase of a certain product or amount, customers are given discount coupons to be availed on the next purchase. This ensures that the customer is engaged with the brand for a longer period of time.
Availing these coupons ensures customer loyalty and makes it simpler for the brand to target further consumer sales promotion strategies for such customers, offering additional benefits.
RewardPort’s My Choice of Gift is an electronic gift voucher that can be redeemed by the customer for purchasing any online products. With this customers can make purchases of products of their own choice.
- Referral Rewards
Referral bonuses or discounts are the strategies used by the majority of online stores. In this approach, there is a certain reward for the customer if they refer their friends or family members to either install and register on the store or make a certain purchase.
This also allows brands to expand their business beyond the regular customers, and spread awareness about their products and brand.
CineRewards by RewardPort offers movie vouchers for customers which can be integrated in your brand’s referral rewards and lure more customers to refer your brand to their peers. This will enhance the marketing of your brand, making it appear more customer centric and appealing to them.
- Free Shipping
Most online stores are now offering free shipping either on the purchase of a certain amount or on select items. With this consumer promotion strategy brands are encouraging their customers to make purchases from online stores.
This allows brands to mark their presence in the digital world as well, further enhancing their customer base and increasing the sales.
How can it Transform Businesses?
For any business be it B2B or B2C, without customers there is no business. Businesses are adopting various consumer promotion strategies to enhance their business, increase sales and generate more revenue. These consumer promotion techniques can vary as per the requirements of the business and target audience.
The above-listed are some of the most common consumer sales promotion strategies to be adopted. These methods have been performing well in the market and have helped businesses grow further.
With digital marketing and other social media channels being available, consumer sales promotion strategies are becoming more aggressive. Majority of the brands have an online presence and can direct their promotion strategies on these channels for better results.
Moreover, involving customers in a digital channel becomes easy as the customers are present online most of the time and can be easily involved in the promotion activities.
Consumer Promotion Activities by RewardPort
RewardPort is a leading loyalty solution provider in the industry, with various solutions available from consumer promotion to loyalty solutions. Embedding these consumer promotion activities becomes easier with RewardPort because of the experienced team it consists of and the diverse portfolio of customers.
RewardPort is the right partner for you if you are looking to involve consumer promotion techniques for your marketing strategy.
Frequently Asked Questions
1. What are examples of consumer sales promotions?
Consumer sales promotions examples consists of the following points:
BOGO offers, Discount coupons, free gifts, vouchers, cashbacks, etc.
2. What are the objectives of consumer promotion?
Objective of consumer promotion is to generate brand awareness, create more brand recognition and expand the customer base.
3. What are the techniques of consumer product promotion?
It depends on different brands what strategies they would like to use for consumer promotion activities. Some brands like to give BOGO offers, cashbacks, discount coupons, vouchers, etc.
