A sales promotion is a marketing strategy which is designed specifically to lure and excite a customer to have an interest and to take actions like purchasing or requesting for more information. A sales promotion is generally brought to people’s eyes for a short period of time so that it could create a sense of urgency. There are many types of ways for sales promotion such as coupons, discounts, free trial periods, etc. Sales promotions can offer an edge to the owner of a budding or a small business.
Luring Customers With Reduced Price And Discounts
New customers can be attracted in by offering them a reduced price for a limited period of time. This helps them to turn away from the company’s competitors and in the end, turns them into regular customers. For instance, if one owns a small electronics shop and its competitors are big retailers, he can offer a discount on a popular phone model for a limited period of time to attract customers. Being polite and serving your customers well will increase your chances of having them come back to your shop.
Creates an opportunity for communication
Communication is an essential aspect in the line of business. It helps build good relationships with customers that might show an interest in your sales promotion.
Gaining The Favour Of A Community
By investing some funds for a good cause helps create a good name for your company. Suppose your city requires a new park for children. You can donate a portion of customer purchases for the cause to create a win-win situation to lure customers who’ll come to you for your contribution to a good purpose.
It Creates a platform to create a chain of opportunity
Try the tactic of making a large and attractive advertisement on a product which will give the customer money on their next purchase. This will get them to buy the product to try to get money off of the next one, hence buying both the items.
Lure in Regular Customers To Make Repeat Purchases
Use reward points for regular customers to get them interested in some special treatment. Encourage their loyalty which will assure that those customers stay for a long time and you can also gain new customers who are excited for the promising gift, hence making them regular customers. For instance, if you own a coffee shop, reward your regular customers by putting their names in a bowl. After making a say, ten purchases, redeem them with a card for special discounts or use the lottery to give them a bumper prize to attract a more extensive customer line.
Give Away Free Samples
People have always been interested in free stuff. Use this technique to entice potential customers. Giving out free products or services helps customers try them out for the first time, which might ultimately lead them to buy the products. For example, if you own a cheese store, give out samples for people to try for free to get them interested. If you have started a gym, give put free trial membership to get people to give it a try.