1. Cart abandonment promotions
69.57% of shoppers abandon their carts on average. A typical online retailer loses roughly 75% of its sales due to online cart abandonment. Sending abandoned cart promotions is a wise way to increase sales as a result.
In actuality, you can keep track of when visitors leave their shopping carts on your website and then send them a follow-up email with a coupon or discount to encourage them to complete their purchase. You have a good probability of getting these purchases back because the cart abandonment email open rate is 43.76% and the CTR is 8.76.
2. Affiliate links for influencers
To execute a successful sales promotion, team up with an influencer and take use of their connections to the community.
The influencers that audiences follow are likely to drive a sale since they have audiences who trust their judgement and ideas. The influencers you collaborate with can provide a special code or affiliate link that grants viewers a discount if they use it to make a purchase to provide further motivation.
3. On-site Event Giveaways
Without asking anything in return, save freebies to draw new attendees to your conference booth, cheer up a regular customer, or make a prospect feel extra special during an in-person visit. A promotion you offer as swag is intended to cultivate goodwill, interest, and loyalty.
4. Localized Offers
Depending on where your consumers reside, you can provide them discounts on your goods and services. You may, for instance, provide particular deals to clients who frequent particular stores.
5. Reward for feedback
Customer feedback is essential for a company’s performance, and you may attract customers to provide it by pairing it with a sales offer. For instance, once a customer makes a purchase, you may give them 10% off their subsequent purchase in exchange for their participation in a customer satisfaction survey. Customers may then be encouraged to make a subsequent purchase with a discount.
6. Discounts for partnerships
You can give clients who are also customers of your partners discount codes if you collaborate closely with other companies, and the reverse is also true. Customers are likely to believe that you are a worthwhile partner to conduct business with since they trust the companies they buy from, and an additional discount can encourage a purchase since you are their established partner.
7. Time-saving features and extra services
Use a good incentive that emphasises time savings or extra services. Without lowering the value of your good or service, this sweetens the deal. For instance, if a prospect signs by Friday, you might provide them free access to an additional 15 hours of onboarding assistance. Or you could provide a free setup for their new account so they can get started right away without having to wait for implementation.
Even a complimentary six-month checkup can entice potential customers who are hesitant to sign the contract. Give away free tranquilly in exchange for your customers’ confidence and business.
8. Seasonal advertising
On particular occasions, many businesses offer specials to encourage purchases. To encourage individuals to make a purchase for certain holidays, you may, for instance, provide birthday discounts, holiday discounts, etc.
9. Promotions for referrals
You can offer a discount on their first purchase from you by providing your current customers with a referral code to share with someone they know. The owner of the referral code will also receive a reward, which may encourage them to suggest you to others if they stand to gain something in return.
10. Cashback Offers
A portion of the money clients spend with you after each purchase is returned when you offer cashback. Customers receive a discount from you even though you only learn about it after the fact, which may encourage them to spend more money because they know that part of it will be reimbursed.
11. Discounts in the off-season
You are aware of your slow times, which may be in December in Australia or July in Phoenix. An effective strategy to move deals forward during these slow times may be a sales promotion.
To meet quota requirements and for accounting purposes, you can schedule your deals to begin on the first of the month. They control a rolling 60-day cycle once they reach 120% of their monthly goal.
They are prepared for such slow months and always have agreements in the works thanks to this.
12. Promotions for donations
Consumers are more likely than ever to desire to support businesses that show a commitment to social responsibility, and it plays a significant role in their decisions to do business with a company.
Customers value when businesses support social issues, thus holding a campaign where you donate a portion of your income to a nonprofit organisation may have an impact on sales. However, if employing this strategy, be sure to be sincere in your commitments, as clients will detect slip-ups and won’t hesitate to move on, or even call you out.
13. Deals For Customers Who Fit Best
Customers who are on the verge of choosing your product should be offered specials. Also, be truthful about whether they would be a good fit for your business.
Promote to prospects who are actively working toward a close, conversing with you and negotiating with you, and seriously considering using your good or service in their company. You’ll make fewer compromises as a result, and the final reward will be greater.
14. Repeat Business
Recurring sales take place on a regular basis, such every two years. Customers anxiously anticipate the sale period since you don’t constantly run promotions and discounts, allowing them to buy before the clock runs out. Customers might also spend more money to buy more of their preferred products at a discount compared to other times of the year.
Source: promotion strategy , promotional strategies