How to Promote a Sale: 6 Sales Promotion Tactics
If you’re like most people, you love a good sale. But when it comes to promoting a sale for your business, things can get a little tricky: you want to make sure you’re doing everything possible to drive traffic and boost sales, but where do you start? We’ve put together a list of 6 effective tips and tactics on how to promote a sale.
From BOGO deals to flash sales, there’s something here for everyone. So read on and learn how to promote a sale effectively!
What is a sales promotion?
A sales promotion is an attempt by a company to get people to buy their product or service. This can be done through a variety of methods, such as offering a discount, providing free products or services, or giving away coupons.
Sales promotions can take many forms, but they all have the same goal of convincing the target audience to buy a product or service.
You can announce sales and promotions over a variety of mediums, including email and social media marketing. You can also promote your sales with pay-per-click advertising.
Sales promotions are an effective way to increase sales, boost customer satisfaction, and heighten brand awareness. By using imagery, copy, and logic that appeals to the needs, values, and emotions of your target audience, you can create an offer that will encourage them to purchase your products or services.
Types of retail sales promotions
Which type of promotion is best for your store? Here’s a list of retail sales promotions and their performance.
1. Percentage discounts
A percentage off deal (e.g. The percentage off deal (e.g. “20% off” or “50% off”) is one the most popular and effective types of sales promotions.
Mike Catania, Chief Technology Officer at PromotionCode.org, stated that “hands down, the most popular style deal is n% discount on anything.” “We have tracked coupon and offer usage for nine years so we know what deals convert the best .”
Mike suggests that a storewide discount is the best way to implement this offer. “A 5% discount across the entire store, with few exceptions,” Mike says, will generate more attention and sales than a 60% clearance.
Krista Fabregas, a retail analyst at FitSmallBusiness.com, is also a fan of percentage discounts and says that they produce one of the highest conversions for discount promotions.
“Profit-testing percent-off sales is easy. If net profit numbers don’t hold for a 20% discount we can move it to 15% and still sell more than if you offered a flat amount like “$5 Off.” Interestingly, even though “$5 Off” may have the greater savings after doing all the math, the percent promotion tends to convert better .”
2. “xx dollars off”
This promotion is an alternative to “percent off” deals. It involves a flat dollar amount discount on items (e.g. $5 off or $20 off).
It is difficult to determine if this offer is better than percentage discounts. Studies and tests have shown mixed results.
Krista from FitSmallBusiness discovered that percentage discounts are more effective than dollar amounts deals. Craig Simpson, an entrepreneur, cites a study that found that a $50 coupon was more effective than a 15% discount.
This shows us that the “right answer” depends on your price points and customers as well as the perceived value of what you offer.
Craig writes that what matters to customers is “their initial impression” of what sounds like an attractive deal. He continues with the following examples (emphasis on added):
Let’s suppose your product is a very inexpensive one, such as a supplement that sells for $25 per bottle and lasts for a month. An offer of 40% off would be better than a $10 discount, even though the real value of both offers is equal.
A $50 discount on a more expensive product like a piece of exercise equipment, which normally sells at $350, would be better than a 15% discount. The $50 discount sounds like a lot. For most people, it may seem too difficult to figure out what 15% of $350 looks like.
We recommend that you do the math and consider the psychological aspects of your promotion to determine the best type to implement.
BOGO (Buy One, Get One) is another popular promotion. You can apply this promotion in two ways: Buy one, get one or get the second item % off.
BOGO is often used to move inventory. If you have a lot of stock you want to get rid of, this promotion might be a good choice.
What about consumer response? Krista states that BOGOs can be difficult to convert, especially online span>
“Customers can be frustrated by BOGO-half-off deals as they always discount the lower price. BOGO-half off can result in lower revenues as customers search for cheaper BOGO pairs. BOGO-free is more profitable than the BOGO half-off .”
Multi-buy promotions, i.e. “2 for 1” is another option if your goal is to clear your inventory. Multi-buys are only as successful as the products they sell.
Krista says, “When considering multiples-type promotions, first consider whether the product can be used as a set, or is it a near-commodity like wine or socks.” Multiple discounts may work in this case. They don’t work otherwise.
Beloved Shirts is a great example of multi-buys at work. You’ll notice that they offer two types of discounts: “Buy 2 and Get 1 50% Off” and “Buy 3 and Get 1 Free.”
5. Multi-save promotions and conditional promotions
Multi-save offers include:
- Save on the entire sale by buying now
- Save on the entire sale by spending.
- Save on certain items by buying them online
- Save on certain items by shopping online.
- Pay a fixed price when you buy.
On the other hand, conditional promotions include:
- Get one or more items free of charge or at a discount when you buy and receive another.
- Spend money and get one or two items free or at a discount.
- Earn loyalty by buying.
- Earn loyalty by spending.
These promotions increase sales without necessarily lowering your revenues or hampering your basket values. These promotions encourage shoppers to look at more products than just what’s on clearance.
6. Shipping Free
Free shipping is a great promotion for eCommerce sites.
Remember that free shipping is not guaranteed. Some businesses find it very effective. Krista says that free shipping is a great way to increase conversions.
Others may not agree. PromotionCode.org’s Mike considers free shipping “a little wildcard span.
He says that free shipping offers have the lowest marketing success rate (as reported to us by our community), but the most use attempts. There are many reasons this could happen, but the most important is when the offer is shared and the person sharing it had a qualified order while subsequent users didn’t. Merchants can avoid confusion by attaching conditions .”
Mike suggests that instead of offering free shipping for select orders, he recommends that you offer free shipping for all $100 orders.
7. Before you buy
Ecommerce merchants are increasingly using this promotion. Online sellers know that the number one barrier to conversions is that customers can’t touch or feel the products before they buy. Ecommerce stores are increasingly implementing “try before buying” initiatives to address this problem.
It is exactly what it sounds like. Customers can ship the product to their home for free (typically, they only pay shipping costs), so they can try it on and see how it works. The trial period is usually between a few weeks and a month. If the customer doesn’t return the item to the seller within that time, they will be charged the full amount.
It could be worth your time to test before you buy if you are an online retailer. Yes, there are risks involved in this offer. There is a possibility that too many people will return the product, and you may end up with unwanted merchandise that you cannot sell. This is why you should only use this offer on products with a high satisfaction rating.
Customers who are satisfied with your merchandise will be more likely than others to continue using it.
The cosmetics brand IL MAKIAGE shows the importance of a company allowing customers to try before they buy. IL MAKIAGE offers a quiz that allows customers to choose the right foundation for them. This increases the chance of customers liking the product.
Once they find the perfect match, shoppers have the option to “try before they buy”, which gives them 14 days to test the product. They can return the product if they aren’t satisfied with their purchase within 14 days. They can keep the foundation if they are satisfied with it and IL MAKIAGE won’t charge them for the full amount.
8. Buy with Gift
This promotion is exactly as it sounds: customers receive a freebie for qualifying purchases. This offer is great for retailers who have excess stock or want to increase conversions.
Ulta gave away a free crossbody bag and travel spray for every $40 purchase.
How to Promote A Sale: Sales promotion ideas and examples to increase sales
Here are 15 examples of successful promotions, along with how they helped achieve different business and marketing goals.
We’ll talk about how to increase sales, encourage repeat business, and increase brand awareness.
1. Google My Business offer posts
You can use these posts to engage with your customers and promote your business. Google My Business offers you the ability to create four different types of social posts: Offers, Updates, Events, and Products. You can use these posts to engage with your customers and promote your business.
Google My Business offers posts are a great way to let your customers know about any deals or promotions you may be running. This post type allows you to include all the details of your offer right on your Business Profile, making it easy for customers to find and take advantage of your deals.
A Google My Business promotion not only boosts your conversions but can also drive more traffic to your website.
Google My Business promotions allow you to reach customers who find your business on Google Maps and Search—which is often when they have the highest intent.
Google My Business promotions are a great way to reach potential customers who are searching for your business on Google Maps or Search. These promotions can be especially effective when customers are searching with high intent, as they are more likely to be interested in what you have to offer.
2. Free samples
Offering free samples to customers is still one of the best sales promotion examples out there, even though many businesses have temporarily suspended this strategy during COVID-19. This promotion tactic introduces consumers to products they may not have considered before and often cordially encourages them to make a purchase.
Offering free samples is a great way to introduce customers to new products, and can often encourage them to make a purchase. Businesses like Costco and Whole Foods use this strategy to great effect, offering consumers a chance to try out products without having to commit to buying them. This can be a great way to boost sales and get people interested in your product.
If you have a product that you’re trying to sell, giving out samples is a great way to get people interested!
This method works well with both food and products like lotions and perfumes that people can try before they buy.
3. Buy one, get one free promotions
BOGO deals are a great way to move inventory, attract new customers, and boost sales. By offering two products at a reduced price, you create a sense of urgency that can encourage customers to buy now. Plus, BOGO deals are a great way to clear out old inventory or promote new products.
A buy-one-get-one promotion, or “BOGO”, is when a retailer offers customers one product for free when they purchase another. This is also called “self-liquidation” because, when done correctly, it clears inventory.
You can take advantage of buy one, get one free promotions without spending any extra money. These types of promotions are designed to increase revenue, so they can be beneficial for both you and the store.
Let’s say you sell a product for $10. If you offer 50% off, you’d make $2 from just one person buying at the discounted rate.
However, running a BOGO discount means you can sell one item at full price and only pay the cost for one item. In the end, you’d be earning $4. With more people buying that product as a result of your promo, your profits would soar.
The great thing is that these promotions rarely cost anything. In fact, they’re designed to increase revenue.
The best thing about these promotions is that they usually don’t cost anything and they’re meant to increase revenue.
BOGO deals can be used by service-based businesses to attract new customers.
If you’re looking to fill your schedule or attract new clients, consider offering a buy one, get one free promotion. This is a great way to increase business during a slow season.
If you’re a service-based business, then you know that time is money. So why not offer a promotion where your customers can buy one service and get another one free? This is a great way to attract new business, and it’s also a great way to show your existing customers how much you appreciate their business.
4. Cashback promotions
Consumers often feel better about spending money when they feel like they’re getting something back. It’s like getting a discount and then having more money to spend on other things.
When you give back to your customers in the form of cashback promotions, it usually results in more loyalty and business from them. This is because it’s a win-win situation for both you and your customers; they get money back on what they spend, and you get repeat business.
5. Lifestyle discounts
Lifestyle discounts are those that apply to a particular profession, age group, or demographic. They are commonly available for teachers, students, veterans, and seniors.
While you can advertise these offers year-round, there are holidays and times of the year that are dedicated to certain groups, so try advertising then.
For example, September is a great time for back-to-school discount offers, while August is home to National Senior Citizen’s Day.
It’s important to be aware of monthly marketing themes so that you can plan your promos accordingly and make the most of them!
6. Flash sales and discounts
A flash sale is a perfect way to get your customers excited about your products and encourage them to buy now. If you have an online business, flash sales are one of the most effective sales promotion strategies you can use.
One way to do a sale like this is to do one flash sale per year.
Option 1: You could do a flash sale each month on a set schedule so that people are anticipating the event and prepared to make purchases on short notice.
Option 2: You could hold a monthly sale where people can get discounts on certain items.
Utilize social media platforms and email marketing campaigns to announce sales in advance. This will allow customers to be prepared to make purchases on short notice. Creating a branded hashtag is also a great way to get your audience excited about the sale
There you have it! 6 effective tips on how to promote a sale sales promotion ideas. So get out there and start driving traffic (and sales!) to your business. With these sales promotion ideas, you will make the best sales possible. Good luck!