The Ultimate Guide to Promotional Strategies

Promotion is an essential part of any successful business strategy. Learn about different promotional strategies such as coupon delivery systems, temporary price reductions through discounts and more.

The Ultimate Guide to Promotional Strategies
Promotion is an essential part of any successful business strategy. It helps to attract new customers, increase sales, and build customer loyalty. There are many different types of promotional strategies that businesses can use to reach their goals. Some of the most common include coupon or voucher delivery, temporary price reductions, sampling, gift offers, flash sales, and more. For more ways to use your verified Google Business profile to promote your business, check out these 13 essential Google My Business optimizations.

Companies that provide promotional products increase their chances of gaining new customers by 83%. A great sales promotion idea could focus specifically on repeat customers. Encouraging repeat business is easier and more cost-effective than attracting new customers. In fact, a 5% increase in customer retention leads to more than a 25% increase in profits, on average.

Email is an excellent vehicle for this communication, as research shows that 49% of people would like to receive weekly mass email campaigns from their favorite brands. By segmenting your list, you can ensure that you only send them the most relevant offers. Free trials are a great way to get a potential customer to test your product or service without risk or commitment on their part. In practice, retailers can offer free samples at the point of purchase, and B2B or B2C services can offer a free trial or demonstration of their products or services so that their potential customers and prospects can test the product.

Sales promotions that use free shipping and returns can help remove one of the obstacles that cause people to abandon their cart. If you are a B2B or SaaS brand, the last obstacle to buying could be your customer's resistance to the challenge of changing providers. A referral program helps reward people who send business their way. A recent report by Kantar Media showed that 93% of respondents trust recommendations from friends and family more than advertising (only 38%).

So, having a referral program is a great way to take advantage of the word of mouth conversations that are already taking place. There are many different ways to use limited-time offers in your emails and on your site, and here are three of their best examples. Unlike many online stores that use discount codes, Pura Vida knows the influence of limited-time offers on undecided visitors. That's why they add a countdown timer to their pop-up and invite you to make a quick decision by boosting urgency.

However, only a few combine free shipping with limited-time offers. A brilliant sales promotion technique that generates enthusiasm among consumers is daily deals. If you want to use daily deals as part of your sales promotion strategy, try combining them with your Christmas campaigns. In this advent calendar popup, Creativ Company asks you to open a new door every day to reveal the offer of the day, for 24 days until Christmas.

While advent calendars are a way to spark curiosity with your sales campaigns, mystery offers help attract your potential customers throughout the year. With cross-selling campaigns, you can convert users who are at the decision stage of your sales funnel with a higher order value. However, how you frame your cross-selling campaigns is the most critical step in this type of sales promotion. While “buy 2, get 1 free” is the book's oldest sales promotion tactic, kikki, K successfully executes it in their emails.

If you don't want to give away your products, free shipping is your best incentive option. And it works just as well in cross-selling campaigns. The company highlights the exclusivity and urgency of the agreement by saying that the sale is “only 3 days” and “online only”. Lifestyle discounts are incentives to increase the attractiveness of a particular lifestyle.

These discounts are usually offered to veterans, seniors, teachers, or students. They are also offered to people who have certain types of health conditions. For example, many fitness centers offer discounts for people suffering from obesity, diabetes or high blood pressure. Considering the value of word of mouth advertising, lifestyle discounts can be very beneficial to your business.

Birthday campaigns are an example of sales promotion aimed at arousing customer loyalty. Personalized campaigns are extremely important for building a loyal audience, ready to recommend your services and keep coming back with new orders. You can take advantage of live chat or emails to personalize messages with birthday incentives such as coupon codes with an exclusive discount or a gift card with an amount to spend on your store.

An example of a promotion is a sale where you receive two boxes of cereal for the price of one.

Promotional strategies are an effective way for businesses to reach their goals and increase sales and customer loyalty. By using coupon delivery systems, temporary price reductions through discounts, sampling gifts offers and flash sales businesses can reach more customers and increase their profits.

For more information about promotional strategies click here for promoters.


National Operations Manager @ Isilumko Activate