Create targeted efforts
Sales promotions should not be aimed toward random demographics. Your best bet would be to target already established customers that have shown interest in your brand and its products. Stimulate business by introducing the customers to new product lines and services that might interest them. If they decide to buy different items than they usually do, you can consider your sales promotion a success.
However, achieving this effect will require a targeted sales promotion plan. Ask yourself what is the most important part of your targeted effort. Do you want consumers to purchase larger volumes of new products or do you want more frequent purchases? Lapsed consumers might return with the reveal of new products and services, but they will require a different kind of strategy to attract. If it’s a seasonal promotion, you need to take into account whether or not this consumer demographic has previously purchased during this season.
Once you’ve carefully examined all of the variables that might influence your promotion, you can better target your sales plan to cater to consumers.
Plan out different incentives
Incentives are the best way to motivate prospective consumers. When someone is on the fence about purchasing your products, a small push is all it takes to get them to do business. Incentives need to be diverse and cleverly planned out in order to be effective.
Ask yourself: how much can our business afford to lose? For many businesses, new consumers outweigh the cost of a good sales promotion. If you offer twenty percent off of regular prices, most consumers won't see it as much of a sale. Offering seventy percent off will easily turn heads. However, you don't want to put your business in the red with any kind of new promotion.
There are simple and more efficient ways to get people to sign up for your products and services. Coupons are a great example. They give the illusion of a higher discount, despite providing the same numbers as a twenty percent off sticker. Give your coupons away through E-mail and regular mail campaigns. Better yet, you can consult your business partners and offer coupons from their websites. This will strengthen your business relationship and give you access to new demographics of consumers.
Free samples have a similarly positive response. If your product is something that can be quickly sampled, it can allow you to give consumers a good first impression. This might be just what is needed to convince them to try your product.
Form your campaign
A good advertising campaign is the key to any sales promotion. You want to reach a wide variety of individuals to get your message across. This means utilizing various platforms to reach your target demographic.
While internet advertising is all the rage right now, physical models are still considered the golden standard. Consider the positive effects of billboards and sales promotion banners. They aren’t all that expensive to maintain, but they reach a huge audience if they are placed correctly. When positioned at a busy street or intersection, you can be sure that tens of thousands of people will run into them every single day. Plus, people are more likely to trust physical advertisements, as they are often made by local businesses. Online advertisements have oversaturated websites and are considered annoyances.
This doesn’t mean that online methods shouldn’t be utilized. E-mail promotions are a great way to reach your already established consumer base and connect with potential new consumers. Personalized advertisements go a long way, and they strengthen your brand image in the eyes of consumers.
The right kind of sales promotion plan will attract new prospects with ease. As long as you know your target demographic and how to reach them, your plan should be able to sway them towards your new sale. Keep some of these concepts in your mind when forming the plan and you will reach your desired business goals.
Alexis is a Sydney-based part-time lifestyle writer and a full-time mom of two. Her words carry the richness of her travelling and parenting adventures, offer advice and inspiration to those who desire to improve their lives. Outside of the office, she takes pleasure in spending precious time with her youngsters and absorbing the happiness they constantly radiate.