Powerful Sales Promotion Ideas For Your Business
Driving maximum business value to boost your bottom line is a crucial aspect of every business management. In that regard, your marketing plan must be tailored to the edge. And speaking of a well-tailored marketing plan, one without ground solid sales promotion doesn’t make the cut. With that said, it goes without making sure your sales promotion scales ROI rather than waste money away. Therefore, in this post, I share with you the 10 most powerful sales promotion ideas for your business. These ideas are;
- Easy to integrate with basically any marketing plan
- Versatile and dynamic
Great, isn’t it? Let’s dive in…
Keep Tabs On Promotion Performance
Promotions don’t come easy. You put a lot of money into them. But pitting your campaigns against the competition and sending them off is never enough. The ideal thing to do is to track your campaigns’ performances and fine-tune as you go. Your campaign performance tracking tools of choice are determined by your promotion platform. If you run an ad on Google, Google Analytics is free. For social media campaigns, you have Twitter Analytics and Facebook Insights at your fingertips. Another way to track performance is by seeing how people are redeeming your promotions by giving them coupons. With all that said, it all comes down to tweaking what’s needed to be tweaked right in time before your promotion time runs out.
Zoom Upon Prospects On Your Mailing List
Your mailing list is a bank of converting leads on its own. Besides, customers existing on your mailing list are more valuable than those that are not. So, for campaigns or funnels that stream potential customers into your mailing list, let your promotions be the first thing they’ll see. Other than the general discount on your ad, send out coupons exclusive to your mail subscribers. And keep them aware of the exclusiveness of such coupons to make them feel special. Spice this up by offering incentives on the products they’ve purchased before so they can buy again. And also, do this for your vertical of newer products for sales diversification.
Time Sensitive Flash Sales
The yields of running flash sales cannot be overlooked. For one, you can sell those products that have been sitting in the warehouse for over a long period in short hours. Then again, flash sales give you more exposure/visibility through high traffic sites that are willing to push your great deals to their visitors. For startups or small businesses looking to make their brand awareness an explosion and start making sales right away, a flash sale is a working strategy. But I’ll add if you’re looking to make your flash sales more effective, create a sort of urgency to make your audience make a purchase on the stop, make your flash sales time-sensitive.
Make Straight Targets
In all that you do, never try hitting two birds with a stone or you’ll end up with none. By this, I mean your campaigns should be targeted to a specific group of the market. See what part of the market will readily take your offers. Make a breakdown of that group and evaluate a specific part of it that has the greatest potentials of making future purchases. These are the customers that will grow with your brand and they should receive the best attention such as; exclusive deals, discounts, referrals, and personalized emails. Speaking of personalized emails, it stands as a separate idea which I have explained below.
Personalization Of Product And Message
Creating a branded product for the purpose of a campaign was an idea I bounced off of Andy Shape, the president of Stran Promotional Solution. Stran has used this technique to make a successful promotion for one of their clients and even made money down the lane, so should you. The idea is to target a specific audience, create a product that is personal to them, and attach a personalized message to the product. So, for instance, you’re looking to make your brand visible to the senior citizens of the USA above age 60. You could name your campaign something like Senior Citizen. And then create a product, let’s use a sweatshirt or any other apparel most loved by the USA senior citizens. You’ll then make the apparel available for free or a low price to your target when they turn over the name of their hometown to apply. Finally, with the name of your brand on the apparel, you also inscribe the name of the campaign plus the town name of each 60-year-old. So you’ll have something like; Senior Citizen From Texas. This may be a physical, traditional promotion but it’s a way to connect with your prospect on a personal and emotional level.
Keep Sales Pipeline On Leads
Regardless of how long or how short your sales promotion funnel is, it’s ideal to put a sales pipeline on every stage. This way, you slim the chances of losing a percentage of potential customers who can’t click all the way from your first port of call, through your landing page, and down to your call to action page. To achieve this, you need a CRM software like Pipedrive to know the location of each potential customer on the promotional funnel.
Leverage Your Website
Your website or your business blog is your fanbase. It is the only place next to your mailing list that you have an existing line of potential customers that are already interested in your product. Create follow-ups on that traffic to have leads. Then convert those leads to sales with irresistible offers on the products they are interested in.
This is especially for SaaS companies and eCommerce stores. Dedicating a free insider community to your most exclusive customers give them a sense of purpose and importance. But you want to keep the community alive always. Things you should be doing include; making sure the community receives the first update on the latest offers and products, dispatching personalized greeting cards on birthdays and new births, and even offering personalized solutions.
Get Involved In The Community
Other than pushing calls and keeping tabs on leads over a distance, making physical contact with your potential customer is more effective. But this doesn’t essentially translate to having the sales team taking rounds from door to door. It is about you, being physically present in social gatherings with a traditional promotion in mind. Free shirts, hats, umbrellas or any other item with your business name and logo on it should be distributed in such events to create real-life visibility and awareness. Showing up in the community is also a way to connect with partnerships that may convert to longterm/contract sales in the long run.
The idea mostly passed around is cutting prices to attract more engagement. But it doesn’t always work that way. Besides, watching your products fly off the inventory does no good if you’re not making enough profits. The road less taken, as an option, is to increase product quality without increasing price. By highlighting the new upgrades on products or services and creating awareness for your clients, you’ll drive more sales since end-users are more about quality than they are about quantity.
Have you utilized any of the ideas shared so far in your sales promotion? Did you record a leap in ROI? What sales promotion did you figure has driven more business to your bottom line? Care to share below?