Making promotions throughout the year is an implicit tactic in many businesses, it sounds simple: lower a product, offer an incentive for the purchase of several units of the same product through savings, create value baskets or special kits.
However, it is not always “so easy” to create successful promotions. On many occasions, the offer does not achieve the desired objective and sales still have not risen with such promotions, adding the impact on the profitability of the business and its commercial margins due to said offers. Or even worse, the promotion doesn’t even encourage the customer.
Next, I want to share some secrets on how to create successful promotions and what to avoid so that they are not a disaster, okay?
Learning to Create Successful Promotions
Most promotions are based on reduced prices or discounts, although it is also common to make offers in which the incentive is a gift, an accessory or a larger quantity of product at the same price.
Careful! A product with a discount whose price has been previously inflated is not a sale. Inflating a price to present an artificial discount represents a very high risk of causing the customer to feel cheated. This situation would increase the risk of losing credibility and, therefore, of losing the client.
He also considers that, on the other hand, presenting all prices as promotions does not work either. When everything is presented as an offer, the feeling of opportunity loses power and credibility. You must know when to use them and for which products.
Secrets to Creating Successful Promotions
Let’s get to it, I share the elements that you should consider since you have decided the objective of your promotions according to the life cycle of your products or your business itself.
1. Choose a product that has rotation.
Choosing offers on low-movement products can be a valid strategy if the offers on these products attract visitors who may also buy other items. This strategy, called the “hook-price strategy”, is widely used by hypermarkets, which know that, once the customer is attracted, there is a good chance that they will do the rest of the shopping there.
2. Choose a product package.
Creating product packages is very attractive for small businesses, especially if product turnover is low. Take care to create congruent packages of use or benefit.
3. Put limits on the offer.
It is essential to put limits on your promotions, the offers seek to accelerate sales. Limits can be in terms of date or number of units creating a sense of urgency.
4. Promote suitable products in a timely manner.
Even if they are offers, it is difficult for a seasonal product to be attractive outside of it, such as a swimsuit in winter. On the other hand, in offers based on purchase volume it is essential that the amount of final product is reasonable to be made in a single purchase, consumer products being more appropriate than daily.
5. Adapt the promotion to the characteristics of the product.
This recommendation focuses more on food products and refers to volume purchases, for example, 3×2 offers. These types of offers will be more successful in products with high consumption, high expiration dates or those that can be frozen.
6. Convey the benefits clearly.
If the offer consists of a price drop, the initial and final price must be clearly visible. The same should be done in the case that the offer consists of a discount percentage, since this will avoid the client having to do mental calculations.
7. Explain the reason for the promotion.
When making offers it is interesting to explain the reason why a product is offered at advantageous conditions, to avoid harming other similar products with a normal price. Some of the most common reasons for making an offer are: end of season, last units, change of exhibition, change of model, etc.
8. Take care how you convey the message.
The design of your posters, banners or brochures in which you communicate the offer will contribute to making it more credible and with a greater impact. Take care to invest in good advertising materials so that your promotions work. Please! Do not use only a cardboard and a marker to communicate your offers, if you do not give importance to your customers either. You should even place the products on offer in striking spaces in your local business, or if they are services in your offices and website.
9. Present your promotions on all channels.
Take advantage of your promotions to sell more, but also to make noise about your business in all your channels and social networks. Do not forget to also decorate your windows properly so that they stand out from the outside and inside.
10. Keep a detailed record of your promotions. What is not measured cannot be improved, so do not forget to keep an annual record of all your promotions and their results, so that you can learn what works best, in what month, with what terms, etc. And take care not to repeat mistakes and improve your successes.
Mistakes in your promotions that can scare away your customers
Hide the offers. Some shops and businesses place their promotions in inconspicuous places on their premises or websites, making them unattractive. When your promotion is good, you should dedicate a good place to it on your counter or showcase to make it more credible.
Communicate the promotion at the wrong time. You must do it with enough time so that your clients or prospects know it and can take advantage of it, otherwise they could feel cheated. You must let them know that they can take advantage of it soon.
Overcharging for extras. Many businesses make strong promotions and then try to recover by charging more for extra services, it happens a lot in the tourism sector, be careful not to do this as people feel cheated and do not buy, but you can also leave with a bad image of your business .
Not writing the terms of the offer well. For a promotion to work properly for you, you must clearly establish its conditions, and communicate them from the beginning to avoid problems, such as lack of stock, accumulation with other promotions, shipments, extras, etc. Above all, if you are going to communicate it in print media, that everything is well stipulated.
Do not remove promotional material once the offer has ended. Even if inadvertently, the customer may feel cheated when trying to take advantage of the offer and find that it is not available.
Are you ready to create successful promotions? I hope these ideas are useful for your business and help you define what is best for you this year.
Success and health… Yeah!