Boost sales with promotional strategies to increase sales ✨
Boost sales with promotional strategies to increase sales ✨
Sales Promotion is one of the popular marketing strategies that stores or companies use to boost sales in a short period of time. But the selection of promotions to be used Or the time period presented, there are many factors that must be considered. Today, KKP Advice Center has recommendations before launching promotions. along with a sample of a great promotion
🔹 Advice before organizing a promotion
Things you should know before starting a promotion What you need to consider whether you are organizing a promotion through offline or online channels The following details are the ones you need to focus on.
1. Use statistical data for consideration You can do this by looking at the sales of your products to see when the products are selling well or when they are falling. There is a need to add promotions to help, including looking at market trends statistics from external agencies both in Thailand and abroad that are reliable.
2. Customer behavior and motivation in making purchase decisions No matter how much you use the promotion "discount, exchange, giveaway" But if you give your customers something they don't want in this case, it may not benefit your sales. which finding information from customers, such as observing the buying behavior of customers as an element Finding more information from employees who are close to your customers will also help you gain insights into what leads them to make decisions. buy for own use or buy it for someone else if we know these factors We will be able to do promotions that are more satisfying.
3. Plan communication channels for customers. No matter how good the promotion is, but the bad media can be broken as well. If the message that will be communicated doesn't reach the customer or doesn't match the target group, it won't be recognized. Therefore, using comprehensive communication channels and choosing the right platform will help you reach the right customers and don't forget to allow time for customers to be informed in advance so they have time to make decisions.
🔹 How to organize a promotion
1. Promotion on sale of products (Sale) "Discount up to 70% in the entire store" "Buy 2 items or more, get 50% off" is known as the most popular promotion of all the shops. Entrepreneurs from small to large for organizing promotions, discounts. However, this promotion is not always an advantage. If you don't have a good plan and choose the right promotion, it may not be as successful as you'd hoped.
2. Promotion to redeem products (Redeem Offer) such as a purchase of 1,000 baht, can be exchanged for luggage "Nong Noo Chokdee, Year of the Rat" (naming it as auspicious is one technique that can call customers) at a price of 299 baht, which this kind of promotion aims to make customers buy more. However, the goods to be exchanged must be looked at as they are liked by our customers as well. And if you still can't figure it out, it might be the best-selling product. However, do not forget to calculate the cost that will be lost as well. Is it worth it to increase sales?
3. Promotion sweepstakes (Lucky Draw) or sending a sweepstakes to win prizes. It is another method that is suitable for the end of the year or the new year because in Thai society we believe in fate as the original capital. Especially when there is a change in the lunar calendar, but in spite of this, the reward must be chosen. The customer must feel that it is really his luck. There is no need for multiple awards.
4. Promotion Buy 1 Get One Free (Buy One Get One Free) or Buy 2 Get One Free (Buy Two Get One Free). This promotion, entrepreneurs should choose the right product category. such as product groups with lifetime restrictions Or it is a product that has a balance in the downtrend or is saturated to organize a promotion to drain the stock and help stimulate sales for that product.
5. Promotion of a single price product Did you know that the way to organize a one-price product promotion is the most popular among customers, members and loyal customers? Therefore, try to bring each type of product to organize promotions and sell them for one price. But keep in mind that the price of the product must be lower than usual for customers to be interested. For example, if you have a clothing store, try setting the price of 200 baht for every item, or for items such as soap or toothpaste. Try to arrange everything for 20 baht. Guarantee that customers will buy a lot of stock.
However, you should only run this promotion for certain times of the day, such as after 2pm and after 9pm, or you can limit the number of products in the promotion. Because if you sell a single price with no limit It will affect the sales on a normal day. I saw that the store sold out quickly. It does not mean that sales will skyrocket as well. So be careful when choosing products and setting prices.
6. Beep Cashback promotion, generate sales from loyal customers. Believe that every customer wants something in return when they buy a product. And from the Bangkok Post news, it was found that after Shopback (a website and cashback application for customers) was launched in Thailand in July 2017, it had sales transactions of over 100 million baht and The customer base doubles every 2 months! Interesting, isn't it?
And this is the reason why online stores E-commerce websites, banks or merchants are all turning to using Loyalty Programs to refund their customers. Because this strategy can really attract customers. It also helps to turn new customers into familiar customers. So, as the owner of a small retail store, Why don't you start turning to cashback programs to incentivize customers to come back to your store more often?
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