Just because Black Friday and Cyber Monday are over doesn't mean that you shouldn't have promotions running for your products! Here are 4 great ways to promote your business and make more sales:
A free gift with your purchase always work! Recommended – give a free gift with a dollar value purchase and make it very prominent. You'll be pleasantly surprised with how many people will work up to that dollar value to earn the FREE GIFT!
Here's an example from Victoria Secret. They are offering a free blanket with every $75 purchase. The photo is amazing, the blanket looks great …
..and if we look on their website to see how much a blanket like this would cost we find some similar ones at $59.95!
So, now we are convinced that we should spend $75 to get this free blanket that is probably at least $59.95. What this offer does is that it makes the customer feel like that have gotten such a good deal … and this good deal is too great to pass up!
Everyone loves Free Shipping! Because Free Shipping still costs you ( the business owner ), make sure your free shipping is associated with a minimum quantity order. For example “Free Shipping on all orders over $35!”
According to Wikipedia: Free shipping is a marketing tactic used primarily by online vendors and mail-order catalogs as a sales strategy to attract customers.
Free Shipping is such a remarkable tactics that it has its own day!
( Note: Image above is from Wikipedia )
Anytime is a great time to offer Free Shipping – but it's great to focus on a “reason” to have Free Shipping. For example, the end of the year sale, Christmas Sale ( any holiday ), the businesses anniversary, etc.
Taking a percentage off of a purchase is one of the most common discounts. You will look at what percentage off you can give based on 2 things.
- What is your profit margin on the product? If you don't want to lose money on the discount, please make sure that you understand your profit margins.
- How hard are you really trying to drive sales? A small percentage off ( 5% off 10% off ) is attractive but it's not going to drive a flood of sales quickly. Larger percentages off (50% off and more) drive sales quickly and get consumers excited!
Dollar Value Discount
Dollar value discounts feel like they have a very great value. My favorite example of this is the store Khols. When you purchase something from Khols they will give you Kohl's Cash. This voucher has a true dollar value and you feel like if you don't spend it you will be throwing money out the window! In order to earn Kohl's Cash, you have to spend a certain amount of money. Kohl's gets me every time! I always spend what I need to spend to earn my Kohl's cash … and I always come back to spend my Kohl's Cash!
So, what are you offering in order to drive more sales into your business? Consider one of these 4 options:
1. A Free Gift 2. Free Shipping 3. Percentage Off Discount 4. Dollar Off Discount
Have fun and make more sales!