What kind of sales promotions are you receptive to

However, they are only as effective as the number of people who know about it and participate in them. The more you can market your promotions through all your available channels, the more likely you are to see the results you want. Endear is the ultimate retail partner and sales promotion tool. What is a Sales Promotion? Discount Promotions. Private Sales. Flash Sales. Free Gift with Purchase. How to Run a Successful Sales Promotion. Define your objective. Here are some common reasons for a promotion: You need to move lingering inventory.

One of your channels is not hitting its sales or traffic goals. You want to highlight a certain item or category. Introduce urgency. Market your promotion across channels. We can help with that. Learn More. Hear from other brands about how they're growing their sales. Case Studies. Learn how jewelry brand, gorjana, relies on the power of human connection, brick-and-mortar retail, and a strong SMS sales strategy to increase foot traffic and conversions at their physical stores.

By Leigh Sevin. Feb 18, By Dorea Novaez. Jul 23, Endear co-founder, Leigh Sevin, attends Retail Innovation Week and explains how Rebag leverages Endear to build loyalty and expand their customers' knowledge of the resale space. The same is true for sales promotion campaigns. Send customers a simple survey asking them about themselves. Offer an incentive that encourages them to take the time and share their personal information. Once you have a clear idea of who uses your product or service, identify exactly what kinds of problems your product or service is designed to solve.

Focus your sales promotion on those who are most likely to be genuinely interested. Determine exactly what you want to accomplish with your sales promotion, then add a specific number — one that is ambitious but achievable — to the goal. This will allow you to chart your success or failure, and identify aspects of your campaign you need to change or develop.

Behavioral psychologists have found human beings tend to assign greater value to things they perceive as being scarce. In a classic study , researchers had participants assign perceived value to identical cookies located in two identical jars.

The only difference between the two jars was that one had 10 cookies, while the other had only two. While there was no apparent difference between the cookies or the jars, participants assigned greater value to the jar with two cookies. This is anxiety about missing out on an exciting event or rewarding experience that other people know about.

Take advantage of these behavioral triggers by offering limited-time deals. A sales promotion — such as a gift with purchase — may seem like an attractive incentive for motivating sales, but unless that promotion is only available for a limited time or in limited quantities, customers might not respond.

But what about drawing attention to the promotion itself? For a promotion to be effective, your target audience needs to see it and understand it. Market or advertise your promotions like any other product or service. In-store signage, website, blogs, social media, email marketing campaigns, text messaging, mobile apps, media releases, brochures, and print and online advertising can all be effective ways to let prospective customers know about your sales promotion.

Visibility is key. Just be sure to account for the marketing cost of promoting your promotion. The best option for you will be the one that best fits your individual circumstances. For example, suppose your peak sales are in spring and autumn, and it is very quiet outside those months. Promotions aimed at providing greater incentives for your sales force to sell out-of-season might raise sales.

Equally, promotions aimed at customers or intermediaries at those times could also stimulate demand. Much of the cost or running a promotion will be met by having better filled staff capacity and not having to hold stock for long periods. You can use promotions if you run a service business, though it may take a little imagination to think of attractive ideas. For example, a solicitor could offer a free initial consultation in order to attract new clients.

The effectiveness of business gifts such as pens and diaries is harder to quantify. Sales promotions such as sales or money-off promotions should be capable of comparison with the same period last year or month. However, you need to take a broader view to gauge the effect on profitability - your sale may just have stocked up the buyer's larder in advance for goods they would have bought anyway.

On the other hand, customers brought to your premises by a promotion for one product may have spent more overall, by buying something else as well. To be effective, you need to understand your target market and the competitive environment, and design your sales promotion efforts to help you achieve your overall marketing objectives.

How sales promotion fits in will depend on your circumstances. For example, you can use sales promotion to:. Sales promotions can be particularly useful as a way of providing a short-term boost to sales during slow periods, or clearing out older stock when your refresh your product portfolio. Your marketing plan should highlight expected peaks and troughs of sales activity - for example, a pre-Christmas rush or a February slump. Sales promotion, used intelligently, should be used to iron out these distortions to make best use of management and staff time, plant and resources, and to even out cash flow.

If sales are already meeting expectations, then sales promotion may just waste your time and money. But when a new rival appears on the scene or a new product is launched, you need to promote to avoid losing sales and market share.