Find the inspiration you need to win more customers with these sales promotion ideas.
Sales Promotion Ideas That Attract More Customers
Types of Sales Promotion
Are you looking for sales promotion ideas for retail or for the services you offer? Here are 13 popular sales promotion tactics that retailers and businesses use to boost their revenue:
1. Branded Giveaways or Promotional Products
Aside from the word “sale,” another word that attracts customers is “freebie.”
You can make use of a branded giveaway as a freebie when customers purchase one of your products. This incentive encourages them to make a purchase and try out what you have to offer.
Another great giveaway idea is a promotional product. Instead of providing one of your products as a giveaway, use custom-made promotional items as a freebie.
Your promotional products shouldn’t just be any item — it should be relevant to your company and what you offer. If you want useful and versatile promo items, go for Promotional Drives.
2. Buy More to Save More
This deal offer lets you sell more of your stocks and helps customers spend less by buying more. You can do this by bundling your products together and offering a special discounted price for them.
You don’t necessarily have to offer a huge markdown. Find a deal that attracts customers and you can have a win-win situation with this sales promotion.
3. Buy One, Get One
This promotional tactic is similar to the last one. While the first one charges for the product bundle at a discounted price, the “buy one, get one” promo can offer the second product for free. This is often referred to as “BOGO” or BOGOF (buy one, get one free).
Everyone wants their money’s worth, so the prospect of getting more for less is indeed attractive. As with our last example, this tactic will also help you unload your stocks while still profiting from it.
If you have excess inventory, sell them along with your current products as a buy one, get one offer.
4. Cashback and Rebates
Cashback and rebates are popular among online shops and credit card companies. These are money-back incentives that consumers get for purchasing online or using their credit card.
It works by returning a certain amount of what customers spend. They can save up these cashbacks and rebates then use them for later purchases. Some retailers and companies even allow customers to transfer these into their bank account so they can withdraw them as cash.
Running a competition is an effective way to up your profile as a business. You can have only one winner, but you will still gain so much.
As part of your competition mechanics, you can encourage people to avail your products and services. You can also ask for their email address to register, which is an organic way to build your email list.
Your business, products, and services stand to gain more recognition and win more customers with this type of sales promotion.
6. Redeemable Coupons
With redeemable coupons, you can give your customers discounts and freebies. There are several ways on how you can offer this:
- Send virtual coupons to customers so they can use them in your online store
- Create an exclusive coupon offer as an email list sign-up incentive
- Give customers physical or virtual coupons as a reward for their in-store purchases
- Send coupons to win back consumers who experienced poor customer service
Through this type of sales promotion, you will keep your customers happy and loyal while still earning a profit.
7. Flash Sale
A flash sale offers customers savings for a limited time. An effective flash sale campaign creates hype and a sense of urgency, ultimately increasing sales.
This tactic is popular among businesses and consumers alike. It helps get rid of remaining stocks to make way for new ones. It also gives customers a great reason to buy — and to buy now.
If you’re planning to hold a flash sale, make sure it’s well-promoted across all your available channels. You can create hype for your event by consistently posting teasers in the days leading up to it.
Provide a great flash sale experience and customer service to encourage consumers to make repeat purchases.
8. Free Shipping or Free Product Return
Offering free shipping or free product return provides that extra reassurance to customers that a product is worth trying. This is an especially good way to nudge hesitant potential buyers in the right direction.
If you’re worried about losing out on the shipping costs, there are solutions you can consider:
- Incorporate the shipping fee in your product cost
- Subsidize the shipping fee through your product cost
You can also opt to offer free shipping or free product return only to customers who reach a certain amount in a single transaction.
9. Loyalty Points and Rewards
Giving incentives to repeat customers will help you build a loyal fanbase for your business. This is also a way for you to provide an even better customer service that will win new customers.
Set up a loyalty program where customers can opt to become a member and receive a loyalty card. Each time they buy from you, they can earn points through their card. Those points can have an equivalent amount that they can use for future purchases or for special offers.
Be creative with your loyalty program incentives to encourage more people to join.
10. Price Match Guarantee
With this, your customers can shop with confidence knowing that if they find a cheaper alternative for the product they bought from you, you will refund the difference.
The price match guarantee is a bold move for any business, but it has its own benefits depending on your goals. This is a good tactic if you want to stay ahead of your competitors. Plus, your customers won’t lose out with this kind of sales promotion.
11. Product Discounts
The word “sale” has such a magnetic appeal that draws customers in. Everyone likes a good bargain, and that’s why product discounts are popular sales promotion tactics.
You can offer discounts by the amount (ex: $50 off) or by percentage (ex: 50% off). Always go for the type of discount offer that will attract buyers.
As much as people love availing discounted items, avoid having a constant sale on your products. It will quickly lose its excitement when people start seeing it as a norm.
12. Recurring Promos
These are the promos that recur on a regular basis, such as during holidays and special occasions. Often, customers already expect these and even anticipate them (think Black Friday and Cyber Monday).
Note that you don’t always have to offer huge deals to make your sales promotion work. You can offer a discount that works well for you and still entices buyers. Creative and appealing execution is also essential so you can stand out from your competitors.
Digital Marketer’s CEO and founder Ryan Deiss coined the term “tripwire.” The idea here is to offer customers an entry-level product so you can engage them to make repeat purchases.
The product you offer is often the entry-level version of your flagship product, and is also priced considerably lower. This encourages new buyers to try out your offer. Once they do, you can upsell them to your high-end products.
Think of it as a way to establish a new customer’s trust in you. When you’re able to nurture that, you can gain a loyal repeat buyer.
Any of these sales promotion tactics can work for your business as long as they’re aligned with your objectives. Remember that you also have to consider other factors such as your timing, inventory, pricing, and marketing.
A well-thought-out and well-executed sales promotion can surely win customers and even encourage customer loyalty.
Which of these sales promotion tactics will you try for your business? Let us know in the comments section below!