Black Friday is tomorrow! Have you organized your sales yet? This is the perfect season to offer a sale, it is the gift-giving season making Holiday promotions successful. It is also an excellent time for you to sell more products and reward your loyal customers. It doesn’t have to be a huge sale, but enticing your customers with a small incentive could just nudge them in a favorable direction. You can get creative with your sale and make it fun. Advice about Sales
One thing about offering Sales is to limit the number of times you offer one. If you do them too often, your customers will expect this norm, which would hurt your business in the long run plus you will end up attracting the wrong kind of customers. On the other hand, having sales once in a while helps you move products and show customer appreciation. So limiting your sales to 2 to 3 times a year is more than enough. I personally only have 1 or 2 a year. Another thing I want you to beware of is the length of your sale and your bottom line. Always make sure whatever offer you are giving makes sense for your profit margin. Do not have a deal if you are not going to benefit from it because that would be working for free, which is not a good business model to follow. Duration of Sale and Promotion The best way to have an effective promotion is to have a flash sale, which is time-sensitive, creating a sense of urgency for the customers to purchase. Flash sales usually last anywhere between 1-7 days. You can also do a count-down on your sale, putting your brand at the forefront for the duration. You can promote your sales via newsletters (which is the very effective) and social media. If you have the budget, you can also purchase FB Ads to give your promotion that extra boost. Here are a 4 options on the kind of sales you can offer: Discounted Products: This is a popular method because customers love a deal! I know I do. Before you offer a percentage off, think about your bottom line to ensure that you still profit after the discount. We are in business to make money, don’t over discount unless you are trying to clear out your inventory. Bundle Sale: This is a fun type of sale; you can offer your customers different strategies such as "buy 2 get 1 free", "buy 1 at full price, and the second one at half price". Here is another option, offer them a discount if they buy 2 or more items. This kind of sale will help you move more products because it is enticing, and your customers will love the deals. They will feel like you have made gift giving so easy for them, allowing them to kill two birds with one stone at a fair price. Free Shipping: This is enormous, think Amazon Free shipping! Right? That always closes the deal for me. Again, here is something to consider: make sure you are still making money when offering free shipping. You can also set a limit with free shipping, such as if they spend more than $39, they get free shipping. This way, you create an enticing offer, nudge your customers in the right direction, and convert more sales. Product Giveaways: This can be a good one if you have some inventory to clear out. You can give your customers a free gift if they shop with you. Offering them a freebie may just convert potential customers to try out your product. Well, I hope you will give these a try! Let me know if you have any other ideas that have worked for you in the past or let me know your choice of marketing plan for this gift-giving season. Happy Good Friday Sale, Everyone! With Creative Joy, Ting
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Ting YuenI am an artist and art marketing strategist that is passionate about creating meaningful art and courses that inspire your life, business and home. Archives
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