In the modern retail world, it’s no longer enough for brands to sell their products. In order to thrive and stand out from the competition, a company needs to find ways to make its products stand out from the competition. This is where promotions come in handy – they are a cost-effective way of boosting sales, increasing brand awareness, and driving profits. However, not all promotions are made equal. Some will have more success than others. For example, some types of promotions might alienate your customers instead of appealing to them. Other promotions won’t offer you as much value as you think they will. Below are 5 ways that you can make your promotions more successful:
Run promotions with a purpose
Before planning your next promotion, you must find out why you’re running it. This will help you determine the type of promotion to run and your end goals. For example, if you want to attract new customers, you might consider running a buy one, get one free promotion. If you’re trying to encourage more people to purchase your product, you can try running a “free shipping” promotion. Whatever your reasons for running the promotion, try to keep them in mind as you’re developing it, as it will help you create a promotion that targets your goals. You might also want to consider the timing of your promotion. Timing is important because it affects how many people see your promotion and how many people take advantage of it. If you’re running a promotion during a hectic season, it might need to be noticed by your customers. On the other hand, running your promotion during a slow season might need to bring in more sales to be worth the cost. Timing your promotions with your customers’ purchasing trends will help ensure that they get the most out of their promotions.
Keep it simple
When creating your next promotion, keep it as simple as possible. Customers are more attracted to promotions with a straightforward, easy-to-understand idea. Keep your promotions simple – don’t add unnecessary rules, restrictions, and extra clauses. For example, if you’re running a special event, don’t complicate it with a bunch of different rules. If you’re offering a BOGOF promotion, don’t make your customers pay extra for one of the items if they select a certain option (such as the “build your own meal” type of menu at a restaurant). If you’re giving away free things, don’t make customers jump through hoops to get them. Keeping your promotions simple will help ensure they appeal to the widest range of customers possible. It will also make promoting those promotions far easier for you and your employees.
Reward top customers with further offers
While most customers will respond well to straightforward promotions designed to attract a wide range of people, some customers are more difficult to please. If you have a particularly picky customer base, some might be put off by your promotions. To keep these customers interested in your products, you can reward them with additional offers and discounts. You can even tailor your rewards to your top customers, for example, offering them a bigger pack of a frequently bought product for the price of a smaller one, offering increasing discounts on different spending levels or simply adding credit to their account via a point reward system for purchases during a qualifying period.
Run giveaways alongside promotions and special offers
Running giveaways alongside your promotions can help you reach more people and make your promotions more successful. However, you don’t want to throw a giveaway on your website and hope it brings in more sales. You want to carefully plan your giveaway to ensure it appeals to your customers. You can do this by targeting a specific audience with your giveaway. For example, you can run promotions that offer a free branded product with each purchase from a select range. Or you can run a “win your order” promotion for all sales over a certain amount for the duration of a weekend.
Make it memorable – create a catchy name for your promotion.
Your promotion’s name is one of the first things customers will see. That’s why it’s essential to make the name memorable and appealing. It will help them determine whether or not they are interested in taking advantage of your promotion. For example, everyone knows BOGOF is a buy one get one free offer. Look at Dominos, who have perfected their “Two for Tuesday” promotion which is a different take on the BOGOF offer – you get two pizzas for the price of one.
Being as specific as possible about the why behind your promotions will enable you to get a better promotion in place and best serve the people you want to target. This will help you to be more successful and get better results from any promotion you run.