On the one hand, they serve to increase sales and this is always positive. On the other hand, they reduce profit margins, which is not always pleasant.
- Is it interesting to regularly offer sales promotions?
- Which are the best?
- Can we do any promotion at any price?
In this post, we explain the benefits you can reap from sales promotions, what the best strategies are, and what you need to weigh to see if they have been useful.
What is a sales promotion?
A sales promotion involves stimulating the purchase of a product in the short term through various strategies. But be careful, don’t confuse promotion and advertising. If the advertisement offers reasons for buying a product, the sales promotion offers multiple brewdog discount code to “buy now”. The objective is to increase the one-time value for the buyer and create a feeling of opportunity in him to encourage him to buy.
But is it really necessary?
You may be thinking: ” the products in my e-commerce are already selling very well, do I need to do promotions?”
Why offer promotions on online stores?
Imagine walking into a store and seeing something you like. After a first glance, you will see how much it costs. There is no doubt about that! Price is one of the most important (if not the most) factors when making the decision to buy. But if this is the case in a physical store, it is even more so on the internet.
Think that 65% of buyers spend at least 16 minutes comparing between different pages. It is indeed easier, with just a few clicks, to see several shops than if you were to do it on foot! And to become the winning option, facing the competition … you will have to go through promotions Because, in addition to being the helping hand that will decide your customer to buy, promotions are extremely useful to achieve other objectives :
Gain visibility: the beginnings are not easy and promotions are a good stimulus to start.
Generate traffic : even if they don’t buy in the end, the visitors who come to our page will know our brand and we will boost our SEO .
Capturing leads : There are special promotions that you can only access if you sign up on the blog.
Stimulate demand : not only new customers but also old customers who no longer visit our page.
New launches : to promote new products on our online store. For example, the novelties of a season.
Ultimately, to continue to be competitive against the competition, an on-line store cannot avoid sales promotions.
ideas to boost your e-commerce products.
Use them with great care.
1. Vouchers with a countdown
When we instill a sense of urgency, the conversion is increased tenfold. If we have a voucher with no expiry date, we will not be in a hurry to buy, but if it is associated with a countdown, it is not the same.
2. Ventas flash
This is another way of making the urgency felt and stimulating purchases.
We can proceed in 2 ways:
- Limited time : “only until 10 p.m., get a 15% reduction”.
- Limited items : “Free shipping on first 50 sales”.
The important thing is to announce it well in advance. If it’s too early, they’ll forget, but if it’s just before, they won’t miss the opportunity.
3. Price blocks
It is a question here of carrying out the strategy described previously a little further, by combining time limit and product. For example: the first 15 units at 40% reduction, the next 25 at 60%…
The offer is more interesting for each block and all this according to a given duration.
4. Prioritize seniority
It is calculated that attracting a new customer costs 10 times more than keeping an existing one . As soon as the barrier of the first purchase is passed, everything is easier. It is for this reason that we will try to take advantage of a loyalty strategy. For the next purchase, you can offer free shipping, personalized welcome, etc.
5. Change of season
Take advantage of the end of summer or the arrival of spring to offer products at reduced prices, not only is it interesting to increase your sales but also….
- get rid of your stock.
- You get new customers to pass the first purchase barrier.
- You are making yourself known as a brand.